K Electric : Majority owners of offshore holding company of K-Electric seek direct stake in K-Electric
July 13, 2023 at 06:05 am EDT
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CAD/PSX/23-07-002 13 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: Majority owners of offshore holding company of K-Electric seek direct stake in K-Electric
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 been informed that IGCF SPV 21 Limited, which is the majority shareholder of KES Power Limited, the holding company of K-Electric Limited (KE), has sought to have direct stake in KE. The communication received by KE in this regard is attached.
This is for the information of investors and market participants.
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:
13 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 been informed that IGCF SPV 21 Limited, which is the majority shareholder of KES Power Limited, the holding company of K-Electric Limited (KE), has sought to have direct stake in KE. The communication received by KE in this regard is attached.
This is for the information of investors and market participants.
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 13 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2023 10:04:09 UTC.
K-Electric Limited is a Pakistan-based company, which is principally engaged in the generation, transmission, and distribution of electric energy to industrial and other consumers. Its segments include Generation, Transmission and Distribution. The Company supplies power to all residential, commercial, industrial, and agricultural areas that fall under the city's ambit and beyond, serving over 2.5 million customers across Karachi, Dhabeji and Gharo in Sindh, and Uthal, Vinder and Bela in Balochistan. It produces electricity from its own generation units with installed capacity of about 1875 megawatts (MW) and in addition, it has arrangements with external power producers for around 1680 MW, which include 1100 MW from the national grid. Its transmission system consists of approximately 1354 kilometers of 220 kilovolts (kV), 132kV and 66kV lines, with 71 grid stations, 20 auto transformers and 181 power transformers. Its distribution network spans across 6,500 square kilometers.
K-ELECTRIC LIMITED 
