LONDON, UK: Dukemount Capital, the property management and long dated income specialist, announced that HSKB Limited, 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.

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 Capital.

This process will commence and be undertaken at speed and we hope to update the market soon on the next steps for Dukemount Capital.