(Alliance News) - Mast Energy Developments PLC said Tuesday it is considering various options after Proventure Holdings (UK) Ltd failed to "remedy" its "material breach" of the joint venture agreement. Read More
Mast Energy Developments PLC said on Tuesday its Chief Executive Officer Pieter Krugel will partially settle GBP325,000 loan with RiverFort Global Opportunities PLC, the institutional lender, under a "reprofiling agreement". Read More
(Alliance News) - Mast Energy Developments PLC on Tuesday reported that its annual loss worsened after its 9-megawatt Pyebridge flexible power generation plant ran into technical and market related challenges. Read More
Mast Energy Developments PLC - developer of reserve power generation plants - Receives official confirmation that its 9-megawatt Pyebridge flexible power plant has passed its "satisfactory performance days" requirements under its current existing T-1 capacity market contract. This means that Pyebridge will retain the current capacity market contract's associated annual gross profit margin income of GP308,000, which is paid and received monthly in arrears. Read More
Mast Energy Developments PLC - developer of reserve power generation plants - Says phase one work programme at its 9-megawatt Pyebridge flexible power generation plant in Derbyshire, England is completed ahead of schedule. Plans to start second phase work programme shortly. Says the phase two will be performed in separate consecutive tranches and is expected to take around six to eight weeks per generator set. Notes the cost of the second phase will be funded under the new funding agreement it recently announced. Mast Energy signed an initial funding facility up to GBP4.0 million with RiverFort Global Opportunities PCC Ltd, earmarked for Pyebridge. Read More
Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Signs a funding agreement, with an initial funding facility up to GBP4.0 million, with RiverFort Global Opportunities PCC Ltd. RiverFort owns around 12% stake in in Kibo and Mast. Says initial funding will be used to lift its Pyebridge 9-megawatt flexible power generation asset out of care and maintenance. Says further funding of up to GBP4 million will be used to fund Pyebridge's overhaul work programme in order to achieve full generation. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday. Read More
(Alliance News) - Mast Energy Developments PLC on Monday said its partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement. Read More
(Alliance News) - Mast Energy Developments PLC on Tuesday said partner Proventure Holdings (UK) Ltd missed the latest deadline to make a partial initial interim payment required under their joint venture agreement. Read More
(Alliance News) - Mast Energy Developments PLC on Friday said it gave partner Proventure Holdings (UK) Ltd more time to make the initial interim payment of GBP2 million required under their joint venture agreement. Read More
Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Announces that Paulus Fillippus Venter, a non-executive director and significant shareholder, has provided MED with a director loan amounting to GBP81,329. The proceeds of the loan will be used for MED's working capital requirements. In order to fund the loan, Venter has sold 14.0 million shares of his total holding of 17.7 million. No fixed term of repayment while interest shall accrue at 7% per annum. Read More
(Alliance News) - Mast Energy Developments PLC on Monday said it has received "sufficient" verbal and written confirmation from joint venture partner Proventure Holdings (UK) Ltd, and other funders that the initial interim payment of GBP2 million will be paid between this coming Friday and Wednesday next week, subject to signature of definitive agreements. Read More
(Alliance News) - Mast Energy Developments PLC shares fell on Friday as it and Kibo Energy PLC said joint venture partner Proventure Holdings (UK) Ltd has failed to make payments needed to complete the deal. Read More
(Alliance News) - Mast Energy Developments PLC said it had extended the date for Proventure Holdings (UK) Ltd to make initial payment of GBP2.0 million to between November 15 and November 30. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells a portion of shares it received from its subsidiary Mast Energy Developments PLC. Disposes of 20.3 million shares, netting GBP259,845. Says it will use the cash for its on-going working capital needs, and to reduce its bridge loan facility with RiverFort Global Opportunities PCC Ltd. The share sale comes after Mast Energy early this month issued 31.6 million new shares to Kibo to partially settle a loan. The share payment amounted to GBP469,000. Kibo now owns 48% of Mast Energy, down from 56%. Read More
(Alliance News) - Mast Energy Developments PLC said on Monday it had signed a "replacement first definitive and binding joint venture agreement" with Proventure Holdings (UK) Ltd. Read More
Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its subsidiary Mast Energy Developments PLC has issued 31.6 million new shares to Kibo to partially settle a loan. The payment in the form of shares amounts to GBP469,000. Says the remaining outstanding shareholder loan owed by MED is now GBP762,535. Following the partial settlement, Kibo will hold 147.8 million shares, or 56.02% interest, in MED. Read More
(Alliance News) - Kibo Energy PLC on Friday reported its first-half loss narrowed as the renewable energy group continued to face a liquidity crunch. Read More
(Alliance News) - Kibo Energy PLC on Friday said its subsidiary Mast Energy Developments PLC has extended the completion long-stop date for its first joint venture agreement. Read More
(Alliance News) - Mast Energy Developments PLC on Friday said it has further extended the completion long-stop date for its joint venture agreement with an institutional investor-led consortium led by Seira Capital Ltd. Read More