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LONDON - Mast Energy Developments PLC (LSE:MAST), a UK-based company operating in the Flexible Generation Power market, announced on Wednesday that the Financial Conduct Authority has approved its prospectus, fulfilling the final key condition for its planned equity fundraise.
The prospectus, which follows announcements made on May 23 and July 8, has been published electronically and will be available on the company’s website. A copy has also been submitted to the National Storage Mechanism.
"We are delighted that the FCA has approved our Prospectus, which satisfies the final key condition to the Equity Fundraise," said Pieter Krügel, MED CEO, in the press release statement. He noted that the company’s board, management and advisors "worked around the clock" in recent weeks to finalize the document.
With all key conditions now met, the company expects the equity fundraise to complete shortly, with further market updates anticipated in the coming days.
Mast Energy Developments describes itself as a multi-asset owner, developer, and operator in the Flexible Generation Power market. The company is listed on the London Stock Exchange (LON:LSEG) under the ticker MAST.
The company has not disclosed the size or terms of the equity fundraise in this announcement. Novum Securities and Fortified Securities are serving as corporate brokers for the company.
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