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LONDON - Mast Energy Developments PLC (LSE:MAST), a UK-based flexible power generation company, announced Tuesday it has received notices for the exercise of warrants for 1.5 million ordinary shares at 4 pence per share.
The warrants were issued as part of an equity fundraise announced on July 11, 2025, according to a company press release.
The company will apply for admission of the new shares to trading on the London Stock Exchange, with trading expected to commence on August 28. The shares will rank equally with existing ordinary shares.
Following the admission, Mast Energy’s issued share capital will consist of 14,748,927 ordinary shares with voting rights. The company confirmed it holds no shares in treasury.
The warrant exercise will affect ownership percentages of significant shareholders. Paul Venter, the company’s non-executive director and chairman, will see his beneficial holding decrease from 14.79% to 13.28% of the issued share capital. Similarly, Riverfort Global Opportunities PCC Ltd’s holding will change from 12.87% to 11.56%.
Mast Energy Developments describes itself as a multi-asset owner, developer, and operator in the flexible generation power market. The company did not disclose how the proceeds from the warrant exercise would be used.
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