Business
Results for the 15 month period ended 31 Dec 2021
Results for the 15 month period ended 31 Dec 2021.
About this update from Quantum Data Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6765G\n Mast Energy Developments PLC\n 31 March 2022\n \n \n \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 \n \n \n \n \n Results for the fifteen-month period ended 31 December 2021\n \n \n \n \n \n \n \n \n \n \n Dated 31 March 2022\n \n \n \n \n \n MAST Energy Developments PLC ('MAST' or the 'Company') (LSE: MAST), the LSE listed and UK-based multi-asset operator in the rapidly growing Reserve Power market, is pleased to announce its audited results for the fifteen-months ended 31 December 2021. A condensed set of financial statements accompanies this announcement below while the Company's full Annual Report and Financial Statements can be found at the following link on the Company's website \n \n \n https://med.energy/wp-content/uploads/2022/03/ANNUAL_REPORT_AND_FINANCIAL_STATEMENTS FOR_THE_15_FIFTEEN_MONTH_PERIOD_ENDED_31_DECEMBER_2021.pdf\n \n \n \n \n \n \n \n The Company's Notice of Annual General Meeting will be announced separately in due course.\n \n \n \n \n \n MAST Energy Developments PLC acquired the entire issued share capital of Sloane Developments Limited (the Sloane Sub-Group) with effect from 14 September 2020. Due to the relative size of the acquired operations of the Sloane Sub-Group the acquisition is seen as a capital re-organisation for financial reporting purposes. \n \n \n \n \n \n The acquisition has been recognised utilising the common control accounting principles under the predecessor valuation method, which requires the financial information of the acquired Sloane Sub-Group to be disclosed for comparative purposes as MAST Energy Developments plc has no historic trading activities. \n \n \n \n \n \n Further information relating to the accounting treatment of the Sloane SubGroup acquisition is included under the notes to the financial results.\n \n \n \n \n \n Overview of key events during the period up to the date of this report\n \n \n \n \n \n · \n Successful IPO and funding of £5.54 million raised in April 2021\n \n \n \n · \n Acquisition of two reserve power project during period comprising the...