REG - Mast Energy Dvlpmts. - Shares issue

Mast Energy DevelopmentsAnnouncement

22/05/2023 15:00

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RNS Number : 2348A  Mast Energy Developments PLC  22 May 2023

Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

Share code on the LSE: MAST

ISIN: GB00BMBSCV12

('MED' or 'the Company')

 

Dated: 22 May 2023

 

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

 

Shares issue

 

Mast Energy Developments PLC, the UK-based multi-asset owner, developer, and
operator in the rapidly growing flexible power market has today allotted
11,666,890 new MED shares of £0.001 each (the "Conversion Shares") following
receipt of conversion notices from the institutional lender group under the
terms of the recent reprofiling agreement (the "Reprofiling Agreement") on the
balance of its outstanding loan facilities announced on its RNS of 17 May
2023.

 

The shares are being issued in respect of £34,662.125 in accrued interest and
£50,000 in principal payment (total of £84,663.125) at an exercise price of
£0.0072567 per Conversion Share in accordance with the terms of the
Reprofiling Agreement.

 

Application will be made for the Conversion Shares to be admitted to the
Standard List segment of the Official List and to trading on the main market
of the London Stock Exchange plc ("Admission"). It is expected that Admission
will become effective and dealings in the Fee Shares will commence at 8.00am
on, or around, 26 May 2023.

 

Following Admission, the total issued share capital of the Company will
consist of 229,119,619 ordinary shares in issue and this figure may be used by
shareholders as the denominator for the calculations to determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules. The
shareholding of MED's largest shareholder, Kibo Mining (Cyprus) Limited will
reduce from 57.86% to 54.91% following Admission.

 

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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