Dukemount Capital Plc

5th October 2022

Dukemount Capital Plc

 ("Dukemount" or the "Company")

Completion of the sale of two RTB energy generation sites with a total output of 10MW

Dukemount, the property management and long dated income specialist, announces that HSKB Limited ("HSKB"), in which it holds a 50% interest, has successfully completed the sale of two special purpose companies, to Mast Energy Developments Plc, for an aggregate sale price of £350,000.00.  Each company contains an 11kV gas peaking facility, which are ready to build, with full planning permission and grid access.

The proceeds of the sale have been used to repay a portion of the sums owing to the lenders as detailed in the announcement of 15 September 2021.

Paul Gazzard  CEO, comments "this process is one we unfortunately have had no choice but to pursue despite having the funding in place to construct these assets, the regulatory environment that evolved for DKE, as a standard listed company, during the transaction to buy and then fund the construction of them meant we were left with no option but dispose of these assets.  We have set about searching for a new target company and business to pursue as we repurpose Dukemount. This process will commence and be undertaken at speed and we hope to update the market soon on the next steps for Dukemount.

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

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