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LONDON - Mast Energy Developments PLC (LSE:MAST) announced it will hold a General Meeting on July 8, 2025, seeking shareholder approval for a proposed share consolidation and to create necessary share headroom for its previously announced equity fundraise.
The meeting will take place at noon at the company’s registered office in London. The notice of GM has been dispatched to shareholders and uploaded to the company’s website.
According to the announcement, the company is making progress finalizing a Supplementary Prospectus with the Financial Conduct Authority, which requires approval and publication to complete the equity fundraise. If shareholders approve the resolutions and the FCA approves the prospectus before the meeting date, the company expects to close the fundraising around July 9, 2025.
Pieter Krügel, MED CEO, stated that completion of the equity fundraise would "significantly improve and strengthen the Company’s balance sheet, and enable the acceleration of our goal to achieve a 300+ MW portfolio."
Mast Energy Developments describes itself as a multi-asset owner, developer, and operator in the UK’s flexible power market. The announcement was made based on a company press release statement.
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