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Pin to quick picksMast Energy. Share News (MAST)

Share Price Information for Mast Energy. (MAST)

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Share Price: 0.20
Bid: 0.19
Ask: 0.20
Change: -0.02 (-9.09%)
Spread: 0.01 (5.263%)
Open: 0.215
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Low: 0.20
Prev. Close: 0.22
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AIM WINNERS & LOSERS: CMO battles construction sector headwinds

Mon, 08th Jan 2024 10:20

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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Celebrus Technologies PLC, up 8.6% at 233.51p, 12-month range 155p-242p. The data management platform celebrates several new contract wins in its third quarter ended December 31. The first is a three-year deal with a European retailer of experience gifts, which intends to use the Celebrus Cloud platform to "help drive better engagement with customers [and] build compliant marketing profiles about those customers". This is a new customer. The second is with an existing "global" banking customer, which has renewed its multi-million dollar annual licence for a further three years. The third is with a UK bank, which has signed on for the full Celebrus platform in a three-year multi-million dollar contract. The fourth contract is with a new customer in the US healthcare sector. Says the four contracts reinforce its confidence in meeting market expectations for financial 2024.

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AIM - LOSERS

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CMO Group PLC, down 13% at 24p, 12-month range 15.45p-29p. The online building materials retailer warns "ongoing economic challenges" to the construction sector will hamper annual results. Sales for 2023 are expected to be broadly in line with expectations at around GBP71.5 million. This represents a 14% drop from revenue of GBP83.1 million in 2022. Adjusted earnings before interest, tax, depreciation and amortisation is expected to be around GBP1.0 million for the full year, halved from GBP2.1 million. CMO attributes these results to an ongoing discretionary consumer spending lull, leading to below average order volume in late 2023. Will release annual results in early May. "With macroeconomic headwinds continuing to impact the construction sector, we proceed with caution for the outlook for full year 2024, but remain confident in our model and strategy to take the business forward, and our ability to deliver profitable progress," says CEO Dean Murray.

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Kibo Energy PLC, down 6.7% at 0.035p, 12-month range 0.04p-0.15p. Says subsidiary Mast Energy Developments PLC's partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement. Mast is in "advanced" discussions over an alternative source of short-term funding to ensure that any further delays regarding the joint venture agreement "will not unduly" hurt Mast's ability to meet its working capital needs. Proventure failed to transfer of the first GBP1 million payment by no later than December 29. A second payment of GBP1 million is scheduled be transferred by no later than this coming Thursday. The original deadline the interim payment of GBP2.0 million was November 10. Kibo is a Galway, Ireland-based company with energy projects in Africa and UK. It owns 48% of Mast Energy, whose shares are down 16% to 0.40p.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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21 May 2024 08:45

Kibo unit Mast Energy mulling options against joint venture partners

(Alliance News) - Mast Energy Developments PLC said Tuesday it is considering various options after Proventure Holdings (UK) Ltd failed to "remedy" its "material breach" of the joint venture agreement.

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7 May 2024 09:20

Mast Energy shares tumble after new share plan and loan deal

Mast Energy Developments PLC said on Tuesday its Chief Executive Officer Pieter Krugel will partially settle GBP325,000 loan with RiverFort Global Opportunities PLC, the institutional lender, under a "reprofiling agreement".

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30 Apr 2024 10:53

Mast Energy annual loss widens on Pyebridge plant setback, high costs

(Alliance News) - Mast Energy Developments PLC on Tuesday reported that its annual loss worsened after its 9-megawatt Pyebridge flexible power generation plant ran into technical and market related challenges.

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26 Apr 2024 08:30

IN BRIEF: Kibo unit Mast Energy passes satisfactory performance test

Mast Energy Developments PLC - developer of reserve power generation plants - Receives official confirmation that its 9-megawatt Pyebridge flexible power plant has passed its "satisfactory performance days" requirements under its current existing T-1 capacity market contract. This means that Pyebridge will retain the current capacity market contract's associated annual gross profit margin income of GP308,000, which is paid and received monthly in arrears.

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11 Apr 2024 08:28

IN BRIEF: Mast Energy finishes phase one work at Pyebridge plant in UK

Mast Energy Developments PLC - developer of reserve power generation plants - Says phase one work programme at its 9-megawatt Pyebridge flexible power generation plant in Derbyshire, England is completed ahead of schedule. Plans to start second phase work programme shortly. Says the phase two will be performed in separate consecutive tranches and is expected to take around six to eight weeks per generator set. Notes the cost of the second phase will be funded under the new funding agreement it recently announced. Mast Energy signed an initial funding facility up to GBP4.0 million with RiverFort Global Opportunities PCC Ltd, earmarked for Pyebridge.

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28 Feb 2024 10:44

IN BRIEF: Kibo unit Mast Energy inks new GBP4 million funding deal

Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Signs a funding agreement, with an initial funding facility up to GBP4.0 million, with RiverFort Global Opportunities PCC Ltd. RiverFort owns around 12% stake in in Kibo and Mast. Says initial funding will be used to lift its Pyebridge 9-megawatt flexible power generation asset out of care and maintenance. Says further funding of up to GBP4 million will be used to fund Pyebridge's overhaul work programme in order to achieve full generation.

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8 Jan 2024 07:48

Kibo and Mast Energy still await Proventure joint-venture payment

(Alliance News) - Mast Energy Developments PLC on Monday said its partner Proventure Holdings (UK) Ltd still has not made a partial initial interim payment required under their joint venture agreement.

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2 Jan 2024 07:38

Joint-venture partner Proventure misses Mast Energy payment again

(Alliance News) - Mast Energy Developments PLC on Tuesday said partner Proventure Holdings (UK) Ltd missed the latest deadline to make a partial initial interim payment required under their joint venture agreement.

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22 Dec 2023 09:08

Kibo unit Mast Energy extends deadline for JV payment after assurances

(Alliance News) - Mast Energy Developments PLC on Friday said it gave partner Proventure Holdings (UK) Ltd more time to make the initial interim payment of GBP2 million required under their joint venture agreement.

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15 Dec 2023 21:39

IN BRIEF: Mast Energy Developments shareholder provides loan

Mast Energy Developments PLC - London-based subsidiary of Kibo Energy PLC, a Galway, Ireland-based company with energy projects in Africa and the UK - Announces that Paulus Fillippus Venter, a non-executive director and significant shareholder, has provided MED with a director loan amounting to GBP81,329. The proceeds of the loan will be used for MED's working capital requirements. In order to fund the loan, Venter has sold 14.0 million shares of his total holding of 17.7 million. No fixed term of repayment while interest shall accrue at 7% per annum.

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11 Dec 2023 08:14

Mast Energy gets confirmation of GBP2 million initial JV payment

(Alliance News) - Mast Energy Developments PLC on Monday said it has received "sufficient" verbal and written confirmation from joint venture partner Proventure Holdings (UK) Ltd, and other funders that the initial interim payment of GBP2 million will be paid between this coming Friday and Wednesday next week, subject to signature of definitive agreements.

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1 Dec 2023 10:46

Mast Energy "very disappointed" as Proventure skips JV payments

(Alliance News) - Mast Energy Developments PLC shares fell on Friday as it and Kibo Energy PLC said joint venture partner Proventure Holdings (UK) Ltd has failed to make payments needed to complete the deal.

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13 Nov 2023 12:14

Mast Energy says Proventure delays GBP2.0 million initial payment

(Alliance News) - Mast Energy Developments PLC said it had extended the date for Proventure Holdings (UK) Ltd to make initial payment of GBP2.0 million to between November 15 and November 30.

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