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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: 0.135
Bid: 0.13
Ask: 0.14
Change: 0.00 (0.00%)
Spread: 0.01 (7.692%)
Open: 0.135
High: 0.135
Low: 0.135
Prev. Close: 0.135
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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.

More News
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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26 Oct 2023 09:08

IN BRIEF: Kibo Energy sells portion shares received from UK unit Mast

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Sells a portion of shares it received from its subsidiary Mast Energy Developments PLC. Disposes of 20.3 million shares, netting GBP259,845. Says it will use the cash for its on-going working capital needs, and to reduce its bridge loan facility with RiverFort Global Opportunities PCC Ltd. The share sale comes after Mast Energy early this month issued 31.6 million new shares to Kibo to partially settle a loan. The share payment amounted to GBP469,000. Kibo now owns 48% of Mast Energy, down from 56%.

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23 Oct 2023 11:45

Mast Energy signs definitive joint venture pact with Proventure

(Alliance News) - Mast Energy Developments PLC said on Monday it had signed a "replacement first definitive and binding joint venture agreement" with Proventure Holdings (UK) Ltd.

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5 Oct 2023 11:07

IN BRIEF: Mast Energy offers new shares to partially settle Kibo loan

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its subsidiary Mast Energy Developments PLC has issued 31.6 million new shares to Kibo to partially settle a loan. The payment in the form of shares amounts to GBP469,000. Says the remaining outstanding shareholder loan owed by MED is now GBP762,535. Following the partial settlement, Kibo will hold 147.8 million shares, or 56.02% interest, in MED.

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29 Sep 2023 09:15

Kibo Energy interim loss narrows, but still faces liquidity crunch

(Alliance News) - Kibo Energy PLC on Friday reported its first-half loss narrowed as the renewable energy group continued to face a liquidity crunch.

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22 Sep 2023 12:10

Kibo and Mast Energy shares fall as long-stop date extended again

(Alliance News) - Kibo Energy PLC on Friday said its subsidiary Mast Energy Developments PLC has extended the completion long-stop date for its first joint venture agreement.

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1 Sep 2023 12:16

Mast Energy further extends joint venture agreement completion date

(Alliance News) - Mast Energy Developments PLC on Friday said it has further extended the completion long-stop date for its joint venture agreement with an institutional investor-led consortium led by Seira Capital Ltd.

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25 Aug 2023 10:46

Mast Energy half-year results hurt by higher expenses

(Alliance News) - Mast Energy Developments PLC on Friday said its interim loss widened on higher costs, while revenue fell.

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4 Aug 2023 07:53

IN BRIEF: Mast Energy extends completion date for joint venture deal

Mast Energy Developments PLC - London-based company which operates reserve power generation plants in the UK - Extends the completion long-stop date for the first definitive and binding joint venture agreement due to "exceptional circumstances". The revised date is now expected around August 31. Mast Energy is a subsidiary of Kibo Energy PLC.

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29 Jun 2023 08:29

Kibo Energy faces liquidity crunch after posting another annual loss

(Alliance News) - Kibo Energy PLC on Thursday it has sought funding to address a liquidity crunch, as the company continued to post a loss in 2022.

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30 May 2023 15:45

UK shareholder meetings calendar - next 7 days

Wednesday 31 May 
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Aferian PLCAGM
Bakkavor Group PLCAGM
Balanced Commercial Property Trust LtdAGM
Bodycote PLCAGM
CleanTech Lithium PLCAGM
Dianomi PLCAGM
DigitalBox PLCAGM
Emmerson PLCAGM
International Public Partnerships LtdAGM
Predator Oil & Gas Holdings PLCAGM
Rotala PLCAGM
RTC Group PLCAGM
Thungela Resources LtdAGM
TruSpine Technologies PLCGM re director appointment and removal
Xaar PLCAGM
Thursday 1 June 
Ecofin US Renewables Infrastructure Trust PLCAGM
Middlefield Canadian Income PCCAGM
Northcoders Group PLCAGM
PageGroup PLCAGM
Rurelec PLCGM re Argentinian interest sale to Verafont, Basic Energy, & Esteban Reynal
Tanfield Group PLCAGM
Friday 2 June 
Cap-XX LtdGM re fundraising
Conduity Capital PLCGM re future direction of the company
Kibo Energy PLCEGM re renewal of director authorisations to issue shares
Mirriad Advertising PLCGM re new ordinary shared admitted to trading on AIM
Monday 5 June 
EnQuest PLCAGM
Tuesday 6 June 
Billington Holdings PLCAGM
Mast Energy Developments PLCAGM
NB Global Monthly Income Fund LtdAGM
Tasty PLCAGM
WANdisco PLCGM re new shares authorisation and fundraise
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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22 May 2023 18:16

IN BRIEF: Mast Energy allots shares to institutional investors

Mast Energy Developments PLC - London-based company which operates reserve power generation plants in the UK - Allots 11.7 million new shares following receipt of conversion notices from the institutional lender group under the terms of the recent reprofiling agreement on the balance of its outstanding loan facilities announced last week Wednesday.

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18 May 2023 12:12

Mast Energy Developments shares jump after joint venture announcement

(Alliance News) - Shares in Mast Energy Developments soared by over 50% on Thursday after it agreed to a joint venture to create a 50 megawatt portfolio of gas peaker plants.

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28 Apr 2023 13:19

Mast Energy shares fall after cash crunch warning, dragging down Kibo

(Alliance News) - Mast Energy Developments PLC said on Friday its annual loss widened and warned that it might not be able to meet its debt obligations due to a cash crunch.

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27 Feb 2023 12:45

IN BRIEF: Kibo's Mast Energy wins new capacity market contracts in UK

Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says investee Mast Energy Developments PLC's nine-megawatt Pyebridge synchronous gas-powered flexible generation facility has obtained new capacity market contracts at "considerably" higher values following auction. Says new contracts will significantly enhance the facility's revenue profile and profitability.

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