--------- -------------- ------------- ----------------- -------------- ------------ --------
As at 1 April
2014 289 287,191 18,000 12,580 10 (14,249) 303,821
Refund of share
application
money - - (1,502) - - - (1,502)
Equity-settled
share based
payment - - - - 58 58
--------- -------------- ------------- ----------------- -------------- ------------ --------
Transaction with
owners - - (1,502) - 58 - (1,444)
Loss for the
period - - - - - (2,128) (2,128)
Other
comprehensive
income
Foreign currency
translation
differences - - - (1,811) - - (1,811)
--------- -------------- ------------- ----------------- -------------- ------------ --------
Total
comprehensive
income /
(expense)
for the period - - - (1,811) - (2,128) (3,939)
--------- -------------- ------------- ----------------- -------------- ------------ --------
Balance as at 30
September 2014 289 287,191 16,498 10,769 68 (16,377) 298,438
----------------- --------- -------------- ------------- ----------------- -------------- ------------ --------
(See accompanying notes to interim condensed Consolidated and
Company financial statements)
INTERIM CONSOLIDATED AND COMPANY STATEMENT OF CASH FLOWS
for the six months ended 30 September 2014
(All amount in thousands of US $, unless otherwise stated)
Consolidated Company
------------------------------ ------------------------------
30 September 30 September 30 September 30 September
2014 2013 2014 2013
-------------- -------------- -------------- --------------
Cash inflow / (outflow) from operating
activities
Loss before tax (69,034) (115,247) (2,128) (2,600)
Adjustment
Depreciation and amortization 29,723 18,656 - -
Finance cost 102,248 167,793 1,575 1,975
Finance income (9,037) (28,757) - -
Provision and impairment of trade
receivable and other financial
assets. 33 4,159 - 326
(Profit) / loss on sale of fixed
assets, net 212 (408) - -
others 112 237 58 -
Change in
Trade receivables and unbilled
revenue (12,849) (20,886) - -
Inventories (2,429) (13,423) - -
Other assets (2,090) (28,104) (214) 195
Trade payables and other liabilities 4,182 31,069 (65) (68)
Provisions and employee benefit
liability (35) (263) - -
Cash generated from /(used in)
operating activities 41,036 14,826 (774) (172)
Taxes paid, net (2,330) (1,588) - -
-------------- -------------- -------------- --------------
Net cash provided by / (used in)
operating activities 38,706 13,238 (774) (172)
Cash inflow / (outflow) from investing
activities
Movement in restricted cash, net (16,781) 76,244 - -
Purchase of property, plant and
equipment and other noncurrent
assets (234,785) (133,593) - -
Proceeds from sale of property,
plant and equipment 38,914 772 - -
Purchase of financial assets (32,738) (12,458) (34,758) (5,009)
Proceeds from sale of financial
assets 32,266 30,107 - -
Dividend received 93 70 - -
Finance income received 7,881 17,012 - -
Net cash flow used in investing
activities (205,150) (21,846) (34,758) (5,009)
Cash inflow / (outflow) from financing
activities
Proceeds from borrowings 721,780 659,799 39,882 6,064
Repayment of borrowings (421,630) (504,306) - -
Finance costs paid (202,933) (145,840) (2,447) (1,161)
Payment of derivative liability (2,451) (1,271) - -
Net proceeds from issue of shares
and share application money in
subsidiary to non-controlling interest 64,976 446 - -
Refund of share application money (3,285) - (1,502) -
Net cash flow provided by financing
activities 156,457 8,828 35,933 4,903
-------------- -------------- -------------- --------------
Effect of exchange rate changes (6,758) (20,148) 784 -
Net increase/(decrease) in cash
and cash equivalent (16,745) (19,928) 1,185 (278)
Cash and cash equivalents at the
beginning of the period 55,934 43,834 173 287
Cash and cash equivalents at the
end of the period (note 6) 39,189 23,906 1,358 9
-------------- -------------- -------------- --------------
(See accompanying notes to the interim condensed Consolidated
and Company financial statements)
NOTES TO INTERIM CONDENSED CONSOLIDATED AND COMPANY FINANCIAL
STATEMENTS
for the six months ended 30 September 2014
1. Corporate information
1.1. General information
KSK Power Ventur plc ('the Company' or 'KPVP' or 'KSK' or
'Parent'), a limited liability corporation, is the Group's parent
Company and is incorporated and domiciled in the Isle of Man. The
address of the Company's Registered Office, which is also principal
place of business, is Fort Anne, Douglas, Isle of Man, IM1 5PD. The
Company's equity shares are listed on the Standard List on the
official list of the London Stock Exchange.
The financial statements were authorised for issue by the Board
of Directors on 27 November 2014.
1.2. Statement of compliance /responsibility statement
a. the condensed set of financial statements contained in this
document has been prepared in accordance with International
Accounting Standard 34 ("IAS 34"), "Interim Financial Reporting" as
adopted by European Union ('EU');
b. the Interim management report contained in this document
includes a fair review of the information required by the Financial
Conduct Authority's Disclosure and Transparency Rules ("DTR")
4.2.7R (being an indication of important events that have occurred
during the first six months of the financial year and their impact
on the condensed set of financial statements; and a description of
the principal risks and uncertainties for the remaining six months
of the year);
c. this document includes a fair review of the information
required by DTR 4.2.8R (disclosure of related party transactions
and changes therein);
d. the interim condensed Consolidated and Company financial
statements should be read in conjunction with the annual financial
statements for the year ended 31 March 2014, which have been
prepared in accordance with IFRSs.
e. The financial information set out in these financial
statements does not constitute statutory accounts. The financial
statement is unaudited but has been reviewed by KPMG Audit LLC and
their report is set out at the end of this document.
1.3. Financial period
Ksk Power Ventur (LSE:KSK)
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Ksk Power Ventur (LSE:KSK)
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