REG - Mast Energy Dvlpmts. - MED Binding JVA Completion Update

Mast Energy DevelopmentsAnnouncement

02/01/2024 07:00

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RNS Number : 3338Y  Mast Energy Developments PLC  02 January 2024

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: 2 January 2024

 

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

 

MED Binding Joint Venture Agreement Completion Update

 

Mast Energy Developments PLC, the UK-based multi-asset owner, developer and
operator in the rapidly growing flexible power market, announces further to
its previous RNS dated 22 December 2023, based on the most recent written
assurance from Proventure as well as its funders, Proventure will initiate
transfer of a first £1m payment to the Project SPV by no later than 4pm
US-time on 29 December 2023. Due to the aforementioned deadline being after
close of business UK-time on the 29(th) of December 2023 and given the recent
New Year's Day banking holiday long weekend MED has to date not received any
formal update from Proventure regarding the status of the aforementioned
payment. The Company has now formally engaged with Proventure on this matter,
given that today was the first opportunity to do so and is awaiting their
response. A further update will be provided to the market as soon as possible.

 

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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