Mast Energy Developments PLC Director Loan & PDMR Share Sale (9028W)
15 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMMAST
RNS Number : 9028W
Mast Energy Developments PLC
15 December 2023
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: 15 December 2023
Mast Energy Developments PLC ('MED' or the 'Company')
Director Loan & PDMR Share Sale
Mast Energy Developments PLC, the UK-based multi-asset owner,
developer and operator in the rapidly growing flexible power
market, is pleased to announce that Paulus Fillippus Venter, a
non-executive director and significant shareholder of the Company,
has provided MED with a director loan amounting to GBP81,329 (the
'Director Loan'). The proceeds of the Director Loan will be used
for MED's working capital requirements. In order to fund the
Director Loan, Mr. Venter has sold 14,000,000 MED shares (the 'Loan
Shares') of his total beneficial holdings of 17,708,538 MED shares.
The key terms of the Director Loan are as follows:
-- No fixed term of repayment, with a repayment longstop date of
12 months (from the date of the Director Loan) (the 'Longstop
Date');
-- Interest shall accrue and be paid on the principal amount of
the Director Loan outstanding at 7% per annum; and
-- The repayment will be by the issuance of the same number of
Loan Shares (as Mr. Venter has lost equity number, not equity
value, by the Director Loan), subject to the Company complying with
its statutory obligations and shareholder authorities (incl.
headroom).
As Mr. Venter is a Person Discharging Managerial Responsibility
('PDMR') under the Company's Share Dealing Policy Code, he has
obtained consent from the Company for the sale of the Loan Shares,
which was completed on 13 December 2023. Mr Venter has also
notified the Financial Conduct Authority ('FCA') in the prescribed
manner by submitting the details shown on the Dealing Notification
Form below.
The Director Loan is a related party transaction under DTR
7.3.3R and the Company has complied with its obligations under DTR
7.3.4R and DTR 7.3.14G.
Following this transaction, Mr. Venter and his related parties
will have a beneficial interest of 1.41% in the Company's issued
share capital.
Pieter Krügel, CEO of MED, commented: "We are very pleased that
Mr. Venter was willing and able to provide MED with a director
loan, which shows his ongoing commitment to and support of the
business. This loan will ensure that MED's short-term working
capital requirements are met while we wait for the JV investment to
be completed, as per our recent announcements."
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND
THEIR CLOSELY ASSOCIATED PERSONS
Details of the person discharging managerial responsibilities/person
1. closely associated
a) Name:
Paulus Fillippus Venter
----------------------------------------- -----------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------------
a) Position/status: Non-executive Director
-PDMR
----------------------------------------- -----------------------------------------
b) Initial notification/Amendment: Initial
----------------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name: Mast Energy Developments
PLC
----------------------------------------- -----------------------------------------
b) LEI: 213800HFVHGJ9YGO9F71
----------------------------------------- -----------------------------------------
4. Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
------------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary Shares of GBP0.001
type of instrument: each
Identification code GB00BMBSCV12 / MAST
----------------------------------------- -----------------------------------------
b) Nature of the transaction: Sale of Securities
----------------------------------------- -----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
GBP0.0058642 14,000,000
----------
----------------------------------------- -----------------------------------------
d) Aggregated information: N/A
* Aggregated volume:
* Price:
----------------------------------------- -----------------------------------------
e) Date of the transaction: 13 December 2023
----------------------------------------- -----------------------------------------
f) Place of the transaction: London Stock Exchange
----------------------------------------- -----------------------------------------
**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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