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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mustang Energy Plc | MUST | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 30.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 30.60 | 30.60 |
| Industry Sector |
|---|
| NONEQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 01/5/2024 07:24 by begorrah88 From the annual reportA draft prospectus was filed with the Financial Conduct Authority (FCA) and it is in the FCA review process. It is currently expected that should the Proposed Acquisition proceed to completion, subject to FCA approval the prospectus will be published during Q2 2024. Then... To cover backs & ensure the Gallegos band wagon can keep rolling Going Concern On 23 November 2023 the company issued £200,000 10 per cent. unsecured convertible loan notes (the “November 2023 CLNs”), the proceeds from the November 2023 CLNs were used to satisfy trade creditors and future working capital. The November 2023 CLNs mature on the 31 May 2024 and convert automatically on Readmission at a conversion price of 6 pence. On 4 April 2024 the Company executed subscription agreements with 3 investors to issue a total of £200,000 unsecured convertible loan notes (the “April 2024 CLNs”). The April 2024 CLNs will bear no interest and subscription by the investors shall be conditional on (i) the approval of the Company’s shareholders of the Proposed Transaction; and (ii) the approval of Cykel’s shareholders of the Proposed Transaction. The April 2024 CLNs will mature on the 31 May 2024 and convert automatically on Readmission at a conversion price of 6 pence. Under the terms of the November 2023 CLNs Instrument, the November 2023 CLNs are automatically convertible into new Mustang Energy Shares if Readmission occurs on or before the Maturity Date. If Readmission occurs on or before the Maturity Date, the Directors, having assessed cash flow forecasts prepared for a period of at least 12 months, are of the opinion that the Company will have adequate working capital to meet the overhead costs of the enlarged group and given that upon Readmission the proposed acquisition would be unconditional. If Readmission does not occur by the Maturity Date the Company will need to raise additional funds through the issuance of debt or equity to pay overhead costs for the next 12 months from the date of approval of these financial statements. This will be to fund redemption of the November 2023 CLNs, due diligence costs for any new acquisition, publication of a new prospectus and readmission of the entire issued Mustang Energy Shares to trading. The directors are confident that sufficient funds will be raised in this scenario. This line made me laugh - Key Performance Indicators (KPI) The sole KPI for the company has been to source a suitable acquisition target. As at the date of this report this KPI has been met with the acquisition of a 22.1% equity interest in VRFB-H in April 2021. It does look as though they recognised the shame of them all having their snouts in the trough until the Enerox deal finally collapsed last year and stopped taking money out [as each of the other directors were paying themselves £2k pm for just being a director! & the chairman was taking £2.5k pm in addition to DG taking £10k pm]. Set out below are the emoluments of the Directors for the year ended 31 December 2022 (GBP): Director Salary and fees Taxable benefits Annual bonus and long term benefits Pension related benefits Share based payments Total £ £ £ £ £ £ Alan Broome, AM 30,000 - - - - 30,000 Dean Gallegos 120,000 - - - - 120,000 Peter Wale 24,000 - - - - 24,000 Simon Holden 24,000 - - - - 24,000 Jacqueline Yee 24,000 - - - - 24,000 Total 222,000 - - - - 222,000 Given the limited cash position of the company all payments to non-executive directors were waived in March 2023 and all payments to the Managing Director were waived in June 2023. This was the last date of approval of the directors’ remuneration policy by the company. |
Posted at 08/4/2024 11:48 by begorrah88 So 6p admission price if DG ever gets around to getting this moving forward.Today's update could just as well be ensuring his income continues for the foreseeable future whilst he announces the next set of delays.'3 investors' divvying up £200k, which based on the RTO numbers, represents 20% of MUST total value! |
Posted at 08/2/2024 17:33 by ukaliptus Impossible to predict what's happeningBoth companies have their own strategies Unknown to the investors - with sparce information I'm content with my 7p per share outlay Not sure why - but sense that any real return is a long way away 🫤😟 |
Posted at 04/1/2024 17:31 by megaman2 Yes she had access to Asian investors just another nail in the coffin now . |
Posted at 04/8/2023 09:39 by megaman2 Bmn investor meet new CEO just notes Garnett control and inevitable bmnn dilution ..suggesting the Garnett dilution terms kick in meaning no mustRefused to comment on must cln or must .. Not focused on be carve out Very much sounded like must is dead |
Posted at 23/6/2023 05:23 by megaman2 Fortune said in the post rns interview prospectus shortly..As you say bmn likely need to dispose of must asap.. Terms require approval of prospectus by Month and commitment if $15 milk funding Garnett can take control and don't have to reverse into must .. A 49 % reversal into must won't be as appealing to investors with split unconnected equity . 6 working days for approval or it's a massive balls up. If they do manage to list share price will get smashed as bmn need to raise money and selling it's cellcube shares are the obvious first option . |
Posted at 02/5/2023 12:55 by vanadiumx "a clear path forward to continue to progress our readmission application with the FCA, which is well advanced, and our discussions with potential investors. I would like to thank our noteholders and shareholders for their understanding and patience to get to this point." - shareholders have no choice but to be patient! Some indication of a relisting date would be appreciated. |
Posted at 12/4/2023 08:58 by begorrah88 MUST is proposing to raise a minimum of US$15,000,000 through the issue of new ordinary shares (the "Fundraise") to new, and potentially existing, investors.Wonder how many 'existing investors' will be keen to trust MUST with any more of their money after having had their original investments kidnapped for [so far] a minimum of 2years+ ? |
Posted at 06/4/2023 13:30 by dontay Flow battery sector responds: We can meet specs for 513MW South Africa tender.April 6, 2023The downstream arm of vanadium producer Bushveld Minerals and other industry sources have responded to yesterday's Energy-Storage.news article about flow battery technology's suitability for a tender in South Africa.In comments provided to Energy-Storage.news published yesterday, consultancies Clean Horizon and Harmattan Renewables said that the technical requirements of a recent 513MW/2GWh battery storage tender in South Africa would prevent flow batteries from participating. Specifically, they cited the round-trip efficiency (RTE) at the point of interconnection of 70%.A spokesperson for Bushveld Energy, the downstream energy storage arm of Bushveld Minerals, provided a written response to Energy-Storage.news: |
Posted at 10/11/2022 05:32 by megaman2 A poster on LSE claiming they have information that must are awaiting info from FCA before rns ....these dates the company are issuing as extensions are just nonsense and meaningless.I still think be might reverse in here must and acacia probably just want the enerox side they are probably telling mikhail to take a hike and find his own funding he is no doubt claiming be distribution side is worth zillions .....anyway more delays doubt this will happen this year if at all...if they do come up with some other dates we know they are meaningless for investors . If they delay it long enough a year or 2 might be the next bull run...it's been c 19 months ....isn't using a spac due to its ease and speed of listing ...not with these parties involved it isn't .. It's been 8 months since the litigation was defended...still not completed...it's the target company who do most of the work and we know who is behind that ...which explains the delay could be a long wait ... |
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