UK's Mast Energy Developments surges on signing funding agreement with RiverFort

Quantum Data Energy

28/02/2024 09:40

** Shares of power generation co Mast Energy Developments
 MASTM.L  up 64.3% at 0.58p, top pct gainer across London stocks
    ** Co signs funding agreement with an initial facility of up
to 4 mln stg ($5.1 mln) with RiverFort Global Opportunities PCC
    ** Co to receive initial advance of 450,000 stg from
RiverFort following execution of the agreement
    ** Co also decides to terminate the joint venture agreement
with Proventure with immediate effect
    ** Nearly 80 mln shares traded, compared to 30-day avg of
7.8 mln
    ** As of last close, stock down 79.8% in last 12 months

($1 = 0.7912 pounds)

 (Reporting by Zainab Saifuddin Saifee in Bengaluru)
 ((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))