REG - Mast Energy Dvlpmts. - Notice of General Meeting Results

Mast Energy DevelopmentsAnnouncement

08/07/2025 12:30

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RNS Number : 2074Q  Mast Energy Developments PLC  08 July 2025

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')

 

8 July 2025

 

Mast Energy Developments PLC

 

Results of General Meeting

 

Mast Energy Developments PLC ("MED" or "the Company") the UK-based
multi-asset owner, developer, and operator in the rapidly growing Flexible
Generation Power market, announces the results of voting at its General
Meeting ("GM") held today.

 

Proxies were received by shareholders holding 31.14% of the shares in MED
(426,354,067 shares issued and outstanding).  All resolutions were passed.

 

Pieter Krügel, MED CEO, commented: "We are delighted that the Company's
shareholders support our plan to complete the Equity Fundraise, by approving
the capital reorganisation which is a key condition to closing. With this
condition now satisfied, the only remaining key condition is the approval and
publication of the Supplemental Prospectus, which we expect to happen shortly.
Following the successful satisfaction of the conditions to the Equity
Fundraise, we expect the transaction to complete shortly thereafter. We are
looking forward to updating the market with further positive news in this
regard over the coming days."

 

 

The proxy voting details at the GM are shown on the table below:

 Resolution #  *Summary Resolution                                                             Votes cast For &           Votes cast                   Votes Withheld

                                                                                               With Discretion            Against
                                                                                               Number        %            Number       %       Number
 ORDINARY RESOLUTIONS
 1.            That the Director Share Scheme be approved.

                                                                                               128,745,261   97.21        3,695,873    2.79    343,829
 2.            To approve sub-division & re-classification of Company share capital

                                                                                               115,680,866   87.17        17,027,309   12.83   76,788
 3.            To approve consolidation of Company share capital                                             87.82        16,169,013   12.18   85,431

                                                                                               116,530,519

 4.            THAT the Directors be, and they are hereby generally and unconditionally        128,336,645   97.25        3,629,943    2.75    818,375
               authorised to exercise all powers of the Company to allot relevant securities

 SPECIAL RESOLUTIONS
 5.            The New Articles of Association be adopted                                      115,844,696   88.10        15,650,326   11.90   1,289,941
 6.            THAT the Directors be, and they are hereby empowered pursuant to Section 570
               of the Act to allot equity securities approved under Resolution 4, as if

               Section 561(1) of the Act did not exist                                         127,156,127   96.70        4,342,795    3.30    1,206,041
 * The full text of the Resolutions can be found on the Notice of GM on the MED
 website at: https://www.med.energy/companydocuments
 (https://www.med.energy/companydocuments)

 

Admission of Consolidated Share Capital

 

Following the passing of all resolutions at today's GM and pending receipt of
stamped approval of the Prospectus by the FCA expected shortly, the Company
will immediately make application to the LSE and FCA for the newly
consolidated share capital to be re-admitted to the LSE which is expected to
occur on or around 14 July 2025. Application will be made for the admission of
10,658,851 new Ordinary Shares of par value £0.001 each (the "Admission").
The updated expected timetable of events from here is shown on the table
below.

 

EXPECTED TIMETABLE OF EVENTS

 

 Event                                                                           Expected time and date
 Announcement of results of the General Meeting                                  8 July 2025 (This Announcement)
 Record Date for Capital Reorganisation                                           6.00 p.m. on 11 July 2025
 Latest Time and date for dealing in Existing Ordinary Shares                    6.00 p.m.  on 11 July 2025
 Expected date of Publication of Supplemental Prospectus                         9 July 2025
 Expected date of Admission of New Ordinary Shares to LSE                        14 July 2025
 Expected date CREST accounts are to be credited with New Ordinary Shares in     14 July 2025
 uncertificated form
 Dispatch of definitive certificate for New Ordinary Shares (in certificated        no later than 31 July 2025
 form)

 

 

The Company will update shareholders by RNS announcement, should there be any
changes to the above timetable.

 

The ISIN for the New Ordinary Shares will be GB00BNG90H86 (SEDOL: BNG90H8) and
the

LSE TICKER will remain as: MAST.

Share Information

 

 Number of Existing Ordinary Shares in issue at the Last Practicable Date.    426,354,067
 Total expected number of New Ordinary Shares in issue following the Capital  10,658,851
 Reorganisation.

Total Voting Rights

Application will be made to the London Stock Exchange for admission of the
10,658,851 New Ordinary Shares to trading on LSE ("Admission"). It is expected
that Admission will become effective and dealings in the New Ordinary Shares
will commence at 8.00 a.m. on or around 14 July 2025.

 

Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 10,658,851 with voting rights. This figure may be
used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's share capital pursuant to  the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Capitalised terms used in this announcement have the same meaning as those
given to them in the 16 June 2025 RNS announcement (Notice of General Meeting)
unless otherwise defined.

 

 

 

Stay up to date with MED's latest news and updates by joining our emailing
list and social media channels, as follows:

 

MED emailing list - https://www.med.energy/contact
(https://www.med.energy/contact)

MED LinkedIn page -
https://uk.linkedin.com/company/mast-energy-developments-plc
(https://uk.linkedin.com/company/mast-energy-developments-plc)

MED X (formerly Twitter) handle - @mastplc

 

 

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.

 

 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
 Guy Wheatley, CFA  +44 (0)74 9398 9014                       Fortified Securities  Corporate Broker

 

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