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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By Jeremy Cutler, Alliance News reporter
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