RE: Truce12 Feb 2024 08:44
Deltalo……….I will just remind you of a few of the JV plans just incase your vision has been clouded by trying to make a quick profit.
“ Back in July, Mast Energy finalised a joint venture agreement with an institutional investor-led consortium led by Seira Capital Ltd. But the principal of Seira Capital was involved in a tragic road accident early in August, prompting a revision of the long-stop date of the agreement.
Mast Energy said in August it had received the full co-operation of the investor consortium and had already agreed on how the revised completion long-stop date can be met.
In terms of this agreement, Mast Energy said on Monday Proventure is required to make an initial interim payment of GBP2.0 million to the joint venture special purpose vehicle to be received no later than November 10.
The London-based developer of reserve power generations plants expects the completion long-stop date for the joint venture agreement, as well as the payment of the balance of the investment amounting to GBP3.9 million, by no later than November 30.”