Here's my attempt...Just change the file constants.

 Code:
$SO = SETOPTION("NoMacrosInStrings", "ON")
$SO = SETOPTION("NoVarsInStrings", "ON")
BREAK ON

$file = @ScriptDir+"\file.txt"
$newfile = @ScriptDir+"\file2.txt"
$handle = FreeFileHandle()

$sitearray = loadfile($file,@crlf)

If Open($handle,$newfile,5)=0 AND Ubound($sitearray)>=0
   For $x=0 to UBound($sitearray)
      $field = Split($sitearray[$x]," ")[0]
      If InSTR($field,"K") AND Len($field)
         $newline = $sitearray[$x]+" "+$sitearray[$x+1]
         $nul = WriteLine($handle,$newline+@CRLF)
      EndIf
   Next
   $nul = Close($handle)
Endif

Function loadfile($file, optional $array, $Uni)
	DIM $fso,$f,$fs
	if $uni $uni = $uni-3 else $uni = -2 endif
	if not $uni $uni = -2 endif
	$fso = CreateObject("Scripting.FileSystemObject")
	$f = $fso.GetFile($file)
	If @ERROR Exit 2 EndIf
	$fs = $f.OpenAsTextStream(1,$uni)
	if not $array
		$loadfile = $fs.Read($f.size)
	else
		$loadfile = Split($fs.Read($f.size),$array)
	endif
	Exit @ERROR 
EndFunction