REG - Mast Energy Dvlpmts. - Clarification of Pyebridge Trading Update

Mast Energy DevelopmentsAnnouncement

31/10/2022 13:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221031:nRSe7751Ea&default-theme=true

RNS Number : 7751E  Mast Energy Developments PLC  31 October 2022

Mast Energy Developments PLC

(Incorporated in England and Wales)

(Registration Number: 12886458)

Share code on the LSE: MAST

ISIN: GB00BMBSCV12

("MED" or "the Company")

 

31 October 2022

 

Mast Energy Developments PLC ("MED" or "the Company")

 

 Clarification of Pyebridge Trading Update

 

Mast Energy Developments PLC, the UK-based multi-asset owner and operator in
the rapidly growing Reserve Power market wish to announce the correction of a
typing error with regards to the most recent trading update (see RNS 3310D
dated 19 October 2022) of its current flagship producing asset, the 9 MW
Pyebridge Synchronous Gas-powered Flexible Generation Facility (the "Site" or
"Pyebridge").

 

In the aforementioned RNS, the Total Electricity Generation Output and Average
Electricity Generation Sales Price achieved per MWh sold for the month of
August 2022 were erroneously stated as "c. 1,420 MWh" and "c. £619"
respectively and should have read c. 486 MWh and c. £646. For the avoidance
of doubt, all other information and numbers stated in the aforementioned RNS
remains unchanged and correct, most notably the Electricity Generation Sales
Revenue for the month of August 2022 of "c. £314,000". Both the corrected
Total Electricity Generation Output and Average Electricity Generation Sales
Price achieved per MWh sold for the month of August 2022, are significantly
higher, compared to the associated monthly average achieved during the 6-month
period March to August 2022, being c. 380 MWh and c. £370. MED's revenue and
profit margin guidance also remains as stated in the RNS of 19 October 2022.

 

ENDS

This announcement contains inside information for the purposes of the UK
version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR"). Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

For further information please visit www.med.energy (http://www.med.energy) or
contact:

 

  Pieter Krügel                          info@med.energy                                                       Mast Energy Developments Plc  CEO
  Jonathan Critchley & Keith Swann       +44 (0)20 3869 6080                                                   Clear Capital Markets         Joint Broker
  Zainab Slemang van Rijmenant           zainab@lifacommunications.com (mailto:zainab@lifacommunications.com)  Lifa Communications           Investor and Media

                                                                                                                                             Relations Advisor

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUASORURUROAA