Member Info for Bigwil7

From Proactive:

Mast Energy Developments is targeting the development and operation of flexible power plants to service the Reserve Power generation market and balance out the national grid at critical times. Its business strategy is to acquire and develop a portfolio of small-scale power generation assets. Various “shovel ready” sites have already been identified in the UK, capable of sustaining gas fired power generators and ancillary structures from 20MW upwards. Financial modelling indicates projected IRRs of 13-16% and NPVs of GBP16-19 million for the initial assets.

The final paragraph wouldn't fit on the page but carries equal importance:

· MED and RiverFort have agreed on an allocation budget for drawdown funds and will cooperate on restructuring the liabilities of MED and Pyebridge to ensure the on-going viability of the MED Group by reducing short term creditors.

Provides a level of comfort in terms of their ongoing recovery and going concern issues.

One can get a better understanding from the 28/02/24 RNS (although some the paragraphs are difficult to follow). It looks as though RiverFort will convert any balance on their investment into Preference shares.

· Further funding up to the commitment amount of up to £4m which will predominantly be used to fund the Site's overhaul work programme in order to achieve full generation, efficiency and profitability potential, as well as the further development of MED's other existing sites and additional sites in the future.

· MED and RiverFort in renewed discussions with a number of debt providers including Close Brothers to complement RiverFort's funding for MED's projects' capex requirements. This is part of an approach to create a scalable financing framework anchored by RiverFort.

· Drawdowns under the Investment will have a term of 24 months and attract an annual interest rate of 12% rolled up and paid at maturity.

· Any outstanding balances are to be repaid in cash on the Maturity Date (excluding any balances converted pursuant to the Equity Rights (as described below)).

· MED to act as guarantor to Pyebridge for the re-payment of drawdowns under the Investment on an unsecured basis.

· RiverFort will hold senior security over the assets of Pyebridge while there remains an outstanding balance on the Investment, save to the extent that this will be released by RiverFort to facilitate project finance on a secured basis.

· RiverFort will have the right to convert the outstanding balance on the Investment to Preference Shares in Pyebridge once it exceeds £1million of outstanding balance pursuant to the Investment. The conversion into Preference Shares will represent 12.5% of the issued share capital (on a fully diluted basis). This can be increased up to 20% of the issued share capital (on a fully diluted basis) by the conversion of outstanding balances during the term of the Investment up to £2,000,000 ("Equity Rights"). The Equity Rights will:

Provide a preferential return on all income or capital distributions with 12.5% representing 50% of all distributions with the balance due to the ordinary shares in Pyebridge, such percentage increasing with further investment and transformation into Preference Shares;

o Provide a preferential return on capital risk representing the value of the Investment converted into the Equity Rights prior to distribution to the shareholders of Pyebridge;

o Provide a right to appoint up to 2 directors and an observer to the board of Pyebridge;

o Include veto and consent rights customary with an investment of the nature of the Investment (including approval of any material disposals or investments by Pyebridge); and

o Not include any fixed returns, coupons or other guaranteed returns.

Cheeseburger88 FWIW my estimate of breakeven is £1.6M but does depend on what the project costs come out at. Anyway the way I have worked it out is :

Admin £600K, Depreciation £180K, Project costs £500K, Finance costs £325K Total £1.6M

And I estimate they should do that from revenue for 3 Gensets up and running at Pyebridge and a year's revenue fro Hindlip site, as follows:

Pyebridge Revenue (3 Gensets @ £745Kpa) £2.235M and Hindlip Revenue £2.07M total £4.305M Gross profit 30% £1.292M plus capacity contract £360K Equals £1.651M.

So they could manage breakeven with 8.1MW at Pyebridge and 7.5MW at Hindlip site total 15.6MW.

My estimate only so DYOR!

And they are aiming at 300MW which should make MED very profitable (if they achieve those figures)

Web-site looks good although I was rather hoping for details of a new acquisition via RiverFort or Powerbridge!

Could it be:

(RNS dated 1st July 2024)

Potential Acquisition

MED is in advanced discussions regarding the potential acquisition (the "Potential Acquisition") of an existing operational 10MW flexible power generation site located in south-western England. The main rationale behind acquiring an existing operational site is to achieve a lower investment cost per installed MW and a shorter timeline to revenue generation compared to a new-build. The Potential Acquisition will be subject to, inter alia final due diligence, contract, funding, and the usual various clearances and approvals associated with a transaction of this nature. Discussions have been positive, and MED is confident that the Potential Acquisition will be successful, but it can't guarantee on what terms or on what timeline the Potential Acquisition will occur.

Or similar............

RNS dated 13/01/25:

Pieter Krügel, MED CEO, commented: "We are delighted with the ongoing positive progress and performance of Pyebridge since the start of the refurbishment programme a few months ago. With the refurbishment and commissioning of the 2nd 2.7MW genset completed, we have effectively doubled the Pyebridge site's generation capacity."

"Further, we are excited about the recently announced new Growth Capital Partnership with Powertree. We are already working toward the definitive wider funding agreement to support and enhance the Growth Capital Partnership, which we expect to execute during Q1 2025."

"The new Growth Capital Partnership with Powertree will complement the Project Finance Framework Agreement recently entered into with RiverFort. The combined support of RiverFort and Powertree will bolster and fast-track MED's strategy to build a portfolio of 300+ MWs, to be the first and leading publicly listed flexible power generation company in the UK."

Must be an acquisition - a ready to go site with a capacity of 8MW should help to keep the momentum going and a doubling of the share price if not more.

Buying so far today outweighs selling by two to one. Buying 19M so far selling 9M.

At what point do the mm's start the games to replace depleted reserves??

Four mm's on the bid looking to buy.

When the herd get wind in this there will be no shares available.............

MM's running for cover, soon be a shortage of stock and the price will rise even higher.

Even more interesting as there were a couple of additional buys at the close, means there will be less to sell tomorrow and putting two and two together to make five, possibly the reason why you couldn't buy any online Mrinvestor55??

Lets hope you are correct normbeef on 2.8p. The revenue / gross profit nos. stack up if MED 's capacity increases to 64MW .

( I believe)Cantor's sell early on 9,666,667 shares gave the mm's the ammunition today. Buys ended up at 25.5M and sells 22.5M but without the 9,666,667 they would have only been 12.5M and the share price would have been alot better imv. Still, they have no more to sell so tomorrow might be even more interesting.............

And that looks to me that Cantor Fitzgerald are now out, but only imv.

More than one 1,000,000 buyer imv

"Mr 1,000,000" straight in at the start!!

This is just the beginning - a taster of the potential, the reality about to unfold and explode out of the blocks................!!

By the end of this year MED are looking to expand (with the financial help of RiverFort and Powertree) their capacity from 5.65MW to at least 60MW. Revenue £1.63M pa to Revenue £18.43M pa, Gross profit £488K pa to £5.53M pa.

That is why "Mr 1,000,000 shares" was buying in force today ending up with at least 11,000,000 for today alone...........

"The new Growth Capital Partnership with Powertree will complement the Project Finance Framework Agreement recently entered into with RiverFort. The combined support of RiverFort and Powertree will bolster and fast-track MED's strategy to build a portfolio of 300+ MWs, to be the first and leading publicly listed flexible power generation company in the UK."

Shortage of shares will drive this up...............

Forgot to mention the other main holder HBOS Investment Fund managers who were more or less unchanged up 1M shares with 79.2 M held. Presumably these are investors holding tight but no idea who they are. Apart from David's companies there are no additional holdings as far as I can see of any substance so would be surprised if there are many to sell in the coming weeks. Most holding on to see what develops.............

Only 426M shares held giving a Market Cap of about £750K - Seems far too low to me.............

FWIW Trader@USbrokerdesk on X keeps tipping MED for better things.

The shareholdings on Simply Wall St website were updated on Dec 2nd. They still have KIbo holding not one but two holdings of 19.5% (Kibo Energy and Kibo Mining (Cyprus) Ltd) both are wrong as RiverFort own the 19.5% ( bought from Kibo last year).

Apart from that obvious error the main holders Close Asset Management ltd reduced their holding by 10.78M to 30.24M and Peel Hunt reduced theirs by 11.47M to 23.7M and Cantor Fitzgerald reduced their holding by 9.85M to 10.67M. First Equity ltd increased their holding from Nil to 9.85M.

There are fewer and fewer shares to go around so add a shortage to the mix and whooosh up will go the share price...............