Mast Energy Developments PLC MED Binding JVA Completion Update (2868N)
2023年9月22日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMMAST
RNS Number : 2868N
Mast Energy Developments PLC
22 September 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 September 2023
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 that further to its previous announcements dated
12 July 2023, 4 August 2023, and 1 September 2023 respectively, it
has further extended the completion long-stop date for the first
definitive and binding Joint Venture Agreement ('JVA'). Completion
is now expected around mid-October 2023. The further extension is
required to allow the JV investor consortium to complete the
compulsory statutory process, as set out in the announcement of 1
September 2023. This process and timelines associated therewith
remains beyond the control of the Company and the JV investor who
remains fully committed to see this completed at the earliest
possible date.
Although MED is continuing to work with the investor consortium,
and the board have full confidence that the transaction will be
completed, unless or until the first definitive and binding Joint
Venture Agreement ('JVA') has been completed, Seira Capital Ltd
('Seira') remains contractually bound under the JVA, and remains in
breach of its obligations thereto. Should the investor consortium
fail to complete the transaction around the latest completion
extension date, MED will consider all its options, including but
not limited to commencing legal proceedings against Seira and
affected parties, as well as alternative investment
opportunities.
Pieter Krügel, CEO of MED, commented: "We remain confident that
the investor consortium will be able to complete the transaction
and the board have also received written reassurance from the
investor consortium in this regard."
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 or
contact:
Pieter Krügel Info@med.energy Mast Energy CEO
Developments
PLC
Jon Belliss +44 (0)20 7399 9425 Novum Securities Corporate Broker
------------------------------ -------------------- -----------------
Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor &
van Rijmenant Media Relations
Advisor
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END
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