CAD/PSX/23-07-001 06 July 2023
Executive Director/HOD | The General Manager |
Offsite-II Department | Administrative Block |
Supervision Division | Pakistan Stock Exchange Limited |
Securities & Exchange Commission of Pakistan | Stock Exchange Building |
63, NIC Building, Jinnah Avenue, Blue Area | Stock Exchange Road |
Islamabad | Karachi |
Subject: Clarification on shareholding of K-Electric Limited
Dear Sir,
In accordance with Section 96 and Section 131 of the Securities Act, 2015 and Clause 5.6.2 of the Rule Book of Pakistan Stock Exchange Limited, we hereby convey the following:
We have learned of the information circulating in the section of the media relating to shareholding of K-Electric Limited (the Company).
On behalf of the Board of Directors, the Company wishes to communicate that there has been no change in the structure of the Board, The Board members continue to represent the shareholders with a concentrated focus on the growth trajectory of the Company in an evolving power sector steadily transitioning towards an open market era.
The majority (66.40%) of the shares of Company, listed on Pakistan Stock Exchange, are owned by KES Power Limited - a consortium of investors including Al-Jomaih Power Limited of Saudi Arabia, National Industries Group of Kuwait and Infrastructure & Growth Capital Fund (IGCF). The Government of Pakistan also maintains a shareholding (24.36%) in the Company.
Moreover, any changes in the shareholding pattern of the Company will be disclosed in line with the stipulated Regulations that govern public listed companies in Pakistan.
A disclosure form as required pursuant to SRO 143(I)/2012 dated December 05, 2012 read with Section 96 and 131 of the Securities Act, 2015 is enclosed as Annexure A.
You are requested to disseminate the information to the Member of the Exchange accordingly.
Yours truly,
Rizwan Pesnani
Chief Risk Officer & Company Secretary
Encl.:As above
K-Electric Limited
39-B KE House Sunset Boulevard, DHA- Phase 2, Karachi, Pakistan
DISCLOSURE FORM
IN TERMS OF SECTION 96 AND 131 OF THE SECURITIES ACT, 2015
Name of Company: | K-Electric Limited (KE) |
Date of Report: | 06 July 2023 |
Name of Company as | |
specified in its Memorandum: | K-Electric Limited |
Company's registered office: | KE House, 39/B, Sunset Boulevard |
Phase II, Defence Housing Authority, Karachi | |
Contact information: | Rizwan Pesnani, Chief Risk Officer & Company Secretary |
Disclosure of inside information by listed company:
We have learned of the information circulating in the section of the media relating to shareholding of K-Electric Limited (the Company).
On behalf of the Board of Directors, the Company wishes to communicate that there has been no change in the structure of the Board, The Board members continue to represent the shareholders with a concentrated focus on the growth trajectory of the Company in an evolving power sector steadily transitioning towards an open market era.
The majority (66.40%) of the shares of Company, listed on Pakistan Stock Exchange, are owned by KES Power Limited - a consortium of investors including Al-Jomaih Power Limited of Saudi Arabia, National Industries Group of Kuwait and Infrastructure & Growth Capital Fund (IGCF). The Government of Pakistan also maintains a shareholding (24.36%) in the Company.
Moreover, any changes in the shareholding pattern of the Company will be disclosed in line with the stipulated Regulations that govern public listed companies in Pakistan.
For and on behalf of
K-Electric Limited
Rizwan Pesnani
Chief Risk Officer & Company Secretary
K-Electric Limited
39-B KE House Sunset Boulevard, DHA- Phase 2, Karachi, Pakistan
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K-Electric Ltd. published this content on 06 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2023 10:11:25 UTC.