Druces LLP have advised MAST Energy Developments Plc (MAST), UK-based multi-asset owner, developer, and operator in the rapidly growing flexible generation power market on its recent £5 million fundraising which has the potential to rise from £5m to £15m in aggregate. The transaction marks a significant milestone in the development and progression of MAST in the sector.
Druces advised on all aspects of the fundraise including the share reorganisation, prospectus, subscription, warrant exercises and loan conversions. The £5m equity fundraise was arranged by Fortified Securities as broker and has the potential to increase to £15m subject to the exercise of warrants. This enhances MAST’s access to the capital markets and positions it strongly for future growth.
The fundraising supports and accelerates MAST’s development of additional reserve power assets, strengthen its operating platform, secure further flexgen sites, and support its role in balancing the UK’s energy grid.
The Druces team was led by Mark Lamph (Senior Associate) which included Kajal Sachania (Senior Associate), Jack Dervyn (Partner and Head of Capital Markets), David Jahoda (Senior Counsel).
Pieter Krügel, CEO of MAST, shared:
We are electrified by the transaction completed today, which has the potential to bring in up to £15 million in gross proceeds. This funding will not only see the Company’s balance sheet essentially debt free, but also provide it with a war chest to secure further flexgen sites, both within our existing projects and others we may look to develop or acquire. The UK energy market is buoyant and there are significant opportunities which MED will look to capitalise on. We would like to thank the Druces team for their continued support and assistance.
Mark Lamph, Senior Associate, commented:
Delighted to have successfully closed the deal with Mast Energy Developments PLC. This marks a significant step forward in supporting their ambitions to grow their portfolio of transitionary energy assets. Exciting times lie ahead for Pieter Krügel and his team as they gear up for a busy few months. Thanks to MAST for their ongoing confidence and partnership with Druces as well as the team at Fortified Securities. This deal reinforces Druces’ Capital Market teams’ expertise for capital markets transactions, and energy businesses seeking trusted legal advice. Our Capital Markets and Corporate Finance team works closely with clients at every stage of their growth journey, combining deep sector knowledge with pragmatic, commercial legal solutions.
If you require specialist advice, please contact our Partner & Head of Capital Markets Jack Dervyn at j.dervyn@druces.com or complete the form below.
