REG - Mast Energy Dvlpmts. - Director Loan & PDMR Share Sale

Mast Energy DevelopmentsAnnouncement

15/12/2023 07:00

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RNS Number : 9028W  Mast Energy Developments PLC  15 December 2023

Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

LEI :213800HFVHGJ9YGO9F71

Share code on the LSE: MAST

ISIN: GB00BMBSCV12

('MED' or 'the Company')

 

Dated: 15 December 2023

Mast Energy Developments PLC ('MED' or the 'Company')

 

Director Loan & PDMR Share Sale

 

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and
operator in the rapidly growing flexible power market, is pleased to announce
that Paulus Fillippus Venter, a non-executive director and significant
shareholder of the Company, has provided MED with a director loan amounting to
£81,329 (the 'Director Loan'). The proceeds of the Director Loan will be used
for MED's working capital requirements. In order to fund the Director Loan,
Mr. Venter has sold 14,000,000 MED shares (the 'Loan Shares') of his total
beneficial holdings of 17,708,538 MED shares. The key terms of the Director
Loan are as follows:

 

·    No fixed term of repayment, with a repayment longstop date of 12
months (from the date of the Director Loan) (the 'Longstop Date');

·    Interest shall accrue and be paid on the principal amount of the
Director Loan outstanding at 7% per annum; and

·    The repayment will be by the issuance of the same number of Loan
Shares (as Mr. Venter has lost equity number, not equity value, by the
Director Loan), subject to the Company complying with its statutory
obligations and shareholder authorities (incl. headroom).

 

As Mr. Venter is a Person Discharging Managerial Responsibility ('PDMR') under
the Company's Share Dealing Policy Code, he has obtained consent from the
Company for the sale of the Loan Shares, which was completed on 13 December
2023. Mr Venter has also notified the Financial Conduct Authority ('FCA') in
the prescribed manner by submitting the details shown on the Dealing
Notification Form below.

 

The Director Loan is a related party transaction under DTR 7.3.3R and the
Company has complied with its obligations under DTR 7.3.4R and DTR 7.3.14G.

 

Following this transaction, Mr. Venter and his related parties will have a
beneficial interest of 1.41% in the Company's issued share capital.

 

Pieter Krügel, CEO of MED, commented: "We are very pleased that Mr. Venter
was willing and able to provide MED with a director loan, which shows his
ongoing commitment to and support of the business. This loan will ensure that
MED's short-term working capital requirements are met while we wait for the JV
investment to be completed, as per our recent announcements."

 

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY
ASSOCIATED PERSONS

 

 

          Details of the person discharging managerial responsibilities/person closely

        associated
   1.
 a)       Name:

                                                    Paulus Fillippus Venter
    2.    Reason for the notification
 a)       Position/status:                          Non-executive Director -PDMR
 b)       Initial notification/Amendment:           Initial
   3.     Details of the issuer, emission allowance market participant, auction
          platform, auctioneer or auction monitor
 a)       Name:                                     Mast Energy Developments PLC
 b)       LEI:                                      213800HFVHGJ9YGO9F71
    4.    Details of the transaction(s): section to be repeated for (i) each type of
          instrument; (ii) each type of transaction; (iii) each date; and (iv) each
          place where transactions have been conducted
 a)       Description of the financial instrument,  Ordinary Shares of £0.001 each

           type of instrument:                      GB00BMBSCV12 / MAST

          Identification code
 b)       Nature of the transaction:                Sale of Securities
 c)       Price(s) and volume(s):                   Price(s)     Volume(s)
                                                    £0.0058642    14,000,000

 

 

 

 d)       Aggregated information:                   N/A

          ·      Aggregated volume:

          ·      Price:
 e)       Date of the transaction:                  13 December 2023
 f)       Place of the transaction:                 London Stock Exchange

 

 

 

 

 

d)

Aggregated information:

·      Aggregated volume:

·      Price:

N/A

e)

Date of the transaction:

13 December 2023

f)

Place of the transaction:

London Stock Exchange

 

**ENDS**

 

This announcement contains inside information for the purposes of the UK
version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ('UK MAR'). Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

For further information, please visit www.med.energy (http://www.med.energy)
or contact:

 

 Pieter Krügel                 Info@med.energy (mailto:Info@med.energy)                              Mast Energy          CEO

                                                                                                     Developments PLC
 Jon Belliss                   +44 (0)20 7399 9425                                                   Novum Securities     Corporate Broker
 Zainab Slemang van Rijmenant  zainab@lifacommunications.com (mailto:zainab@lifacommunications.com)  Lifa Communications  Investor & Media Relations Advisor

 

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