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MUST Mustang Energy Plc

0.00 (0.0%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mustang Energy Plc LSE:MUST London Ordinary Share GB00BJ9MHH56 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 30.60 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs -559k -0.0544 -5.63 3.15M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 30.60 GBX

Mustang Energy (MUST) Latest News

Mustang Energy (MUST) Discussions and Chat

Mustang Energy Forums and Chat

Date Time Title Posts
05/12/202308:33Mustang Energy MUST - SPAC/Shell Main Market listed1,066

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Posted at 20/11/2023 14:30 by begorrah88
So Gallegos is now not providing material information in his market updates!I don't imagine BMN's decision to have nothing to do with MUST happened between 7.30am & 10.30amIf MUST was trading it would probably have to be suspended on that omission alone.Gallegos, & all concerned sailing very close to the wind on legalities here.Stinks
Posted at 20/11/2023 07:39 by begorrah88
'albeit subject to the continued suspension of trading of the Ordinary Shares.'You really do have to laugh at that line as it makes everything else absolutely irrelevant.They also have the cheek to include the line 'for further information contact......' when every MUST shareholder knows they do no respond to any enquiries whatsoever.
Posted at 06/11/2023 07:12 by begorrah88
No hanging around at Pineapple

Days after pulling out of their previous plan they are straight on the case with a new one.

Not like the shambling chancers at Must who continue to hide and will not update the market until every single other party has told them they are not part of any deal and announced it to their own shareholders [we may never hear as Garnett don't have to tell any markets and the FCA say MUST are not governed by them, MUST own website says they do not have to comply other than voluntary adoption of 'guidelines' so there will be no pressure on them from anywhere]

Shame on you MUST
Posted at 30/10/2023 07:18 by begorrah88
So Pineapple have ended their intended RTO and announced it [the second time they have done this while MUST have been in hibernation] and have another plan/target already in sight.

'Ordinarily, on termination of such discussions, the Company would request that its ordinary shares be restored to listing. However, the Directors of the Company are actively considering another potential acquisition opportunity in the renewables sector which would constitute an RTO and have therefore requested that the Company's shares remain suspended for the time being.'

Whereas Gallegos is waiting for Bushveld to confirm, in a RNS, that they are not involving MUST at all in their dealings with Garnet, before he will finally accept - and more importantly update the market - that he can no longer wait for any crumbs off the Garnet table and he has massively failed. Not just in his goal of the RTO but in the way he has treated shareholders by his appalling lack of communications & the 'mistruths' about the FCA holding the process up.
Posted at 26/9/2023 06:41 by megaman2
Bmn Rns"As a result of Mustang not being readmitted to trading by 31 July 2023, shareholder Garnet exercised its option to increase its shareholding in CellCube to 60% and committed to invest a further US$3.25 million to support the company in the short term. As a result of these events, alternative options are being considered for Bushveld Energy."

Alternative "options" doesn't say they are re-negotiating to reverse into must .

Cellcube needs money asap and vfrbhs 40 %® is diluted if they can't stump up the dough...surely Garnett are going to call for more money asap..

This doesn't say to me continuing with must . This stock still being suspended is a disgrace by the FCa . They are failing to protect shareholder and regulate the market .
Posted at 04/8/2023 08:39 by megaman2
Bmn investor meet new CEO just notes Garnett control and inevitable bmnn dilution ..suggesting the Garnett dilution terms kick in meaning no must

Refused 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 04:23 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 29/11/2022 17:54 by megaman2
By the time they raise some money there is going to be 200 mill plus shares in issue ..

20 p share price will be £40 mill with 200 mill shares ...valuing cellcube at £80 mill...

Invinity is only c £25 mill mkt cap....lots of unknowns here still ..but surely cellcube needs significant money's in talks considering building this factory in Australia and funding 50 % plus lights on money and developing its new compact vfrb ..must need another $30 mill minimum .invinity has already burnt through most of $90 mill....

It's hard to see how cellcube mkt cap at this time should be worth more than invinity ..Especially because of court case and the proposition of buying into must which only holds c 50 % of cellcube .....if it's only worth c £25 mill you can throw some figures out there for an share price of 5p-6 a comparison to invinity ....they need to tell some story to look for anything higher as their internal valuations are exactly that ..
Posted at 27/5/2022 07:32 by megaman2
Thnx for news unfortunately kibo energy is not really a big player that one would hang your hat on delivering big results .it's basically a new venture for them at the lower value end of the market. If they deliver great but bushveld energy has been claiming 200 MWh by 2020 and has been promising to deliver Installations In the near future since 2017 and has so far delivered zero. We don't know if that's their incompetence or just lack of market for vfrbs in the west . Neither cellcube or invinty seem to be delivering the volume of contracts forecast and consequentially the invinty share price is at an all time low from flotation mkt cap £75 mill and that's after a recent big fund raise . Talk is as talk until contracts start rolling in. A market cap of £75 mil for cellcube puts must share price at about 22 per share by my reckoning I'm open to being disagreed with there . Be delighted if it re-lists at 200 million market cap like invinity floated at but maybe that's now a fantasy .
Posted at 03/6/2021 07:22 by jev1
Primorus is pleased to announce it has invested US$2.5 million in Mustang Energy PLC ("MUST"), a special purpose acquisition company whose shares are listed on the Official List and traded on the Standard Segment of the London Stock Exchange's main market for listed securities (the "Standard List"), having purchased 50 convertible loan notes of a nominal value of US$50,000 each ("CLNs"). The issue of the CLNs forms part of a wider transaction pursuant to which MUST has raised a total of US$8 million ("Fundraise") by the issue of 160 convertible loan notes ("MUST Loan Notes") with a maturity date of 31 December 2021 ("Maturity Date"). The MUST Loan Notes attract interest at a rate of 10 per cent. per annum. MUST was formed to undertake an acquisition of a target company or business or asset(s) with operations in the energy or natural resources sectors.

The Fundraise has enabled MUST to acquire a 22.1 per cent. interest in VRFB Holdings Limited ("VRFBH") for a total consideration of approximately US$7.5 million ("Acquisition"). VRFBH has a 50 per cent. interest in Enerox Holdings Limited ("EHL") which owns the entire issued share capital in Enerox GmbH ("Enerox"). The Acquisition forms part of a total US$30 million fundraising by a consortium of investors in EHL ("EHL Capital Raise").

Enerox is an Austrian-based vanadium redox flow battery ("vrfb") manufacturer, which has invested more than 20 years of research and development into its CellCube energy storage system. The Enerox directors believe its vanadium-based technology to be known to be state-of-the-art in the battery market, and more than 130 systems/23 MWh have already been deployed across five continents. The EHL Capital Raise is intended to fund growth capital required to scale up Enerox's vrfb production capacity to 30MW (120-240MWh) in annual production capacity by 2022 as its pipeline grows.

The Fundraise and the Acquisition constitutes a reverse takeover of MUST, and its shares have been suspended from trading with effect from today pending the publication of a prospectus and certain approvals being obtained from MUST's shareholders, following which MUST will seek the readmission of its enlarged issued share capital to the Standard List ("Readmission"). Readmission is subject to MUST meeting the eligibility requirements of the Financial Conduct Authority.

Subject to Readmission occurring on or prior to the Maturity Date (such date being the "Conversion Date"), Primorus will receive new shares in the capital of MUST calculated by dividing the nominal value (and accrued interest, if applicable) of the CLNs (using the average US$/GBPGBP closing exchange rate as shown on Bloomberg over the five trading days prior to conversion) by 20 pence ("MUST Conversion Shares"). The closing mid-market price of MUST on 26 April was 30.6 pence per share. Accrued interest at the Conversion Date may, at the sole election of MUST, be converted into MUST Conversion Shares or redeemed for cash. Further, Primorus will receive warrants to subscribe for new shares in the capital of MUST (one warrant being issued for each two MUST Conversion Shares held by Primorus), exercisable at a price per share of 30 pence ("Warrants"). The Warrants have an expiry period of three years from the Conversion Date.
Mustang Energy share price data is direct from the London Stock Exchange

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