Business
First Day of Dealings
First Day of Dealings.
About this update from Quantum Data Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3394V\n Mast Energy Developments PLC\n 14 April 2021\n \n \n \n \n Mast Energy Developments PLC \n \n \n (Incorporated in England and Wales) \n \n \n (Registration Number: 12886458)\n \n \n Share code on the LSE: MAST\n \n \n ISIN: GB00BMBSCV12\n \n \n (\"MED\" or \"the Company\")\n \n \n \n \n \n 14 April 2021\n \n \n Mast Energy Developments plc (\"MED\" or \"the Company\")\n \n \n First Day of Dealings\n \n \n \n \n \n Mast Energy Developments plc, a UK-based \n multi-asset operator in the rapidly growing Reserve Power market\n , is \n pleased to announce that \n at 08.00 today its ordinary shares commenced trading on the Official List for listed securities of the London Stock Exchange plc ('LSE') under the ticker MAST ('Admission'). As part of the Admission process, the Company has raised 5.54 million through a placing of 47,150,000 Ordinary Shares (representing 25% of the Company's issued share capital on Admission) at 12.5 pence each to institutional and retail investors, with a market capitalisation of circa £23 million on Admission. On Admission, the Company will have 188,564,036 Ordinary Shares in issue.\n \n \n \n \n Overview\n \n · \n Raised 5.54 million to support the Company's aggressive expansion plans.\n \n \n · First projects in the UK Reserve Power market to come on stream imminently and generate revenue.\n \n · Defined development plan to advance strategy with several acquisitions in the pipeline.\n \n · Highly experienced team with requisite technical capabilities and commercial expertise needed to develop the projects and fast-track growth strategy.\n \n \n \n \n \n Louis Coetzee, Non-Executive Chairman said,\n \n \n \n \"We are delighted to commence trading on the London Stock Exchange; this is a key milestone in our strategy to become a leading supplier of flexible energy to the UK market. Given the UK's rising reliance on intermittent renewable energy, the need for flexible energy to support the grid during peak times is increasing and this is where our projects step in to provide the balance of power to maintain stability in the national grid. To that end, we already have \n \n an offtake agreement in place for all the energy we can produce for the next 15 years. Having raised £5.54 mill...