Jack Diamonds
09 Jan 2016
Re: +4M traded by lunchtime today.............. Looks like L&G have been reshuffling their Portfolio for the New Year judging by the recent RNS.A significant Shareholding is anything above 3% so 188,831,524 * 3% = 5,664,945. As they had 7,250,000 they have sold at least 1,585,054 shares since 01 Apr 2015.I guess the question is, have they finished selling or are they out completely?Jack 08 Jan 2016The Company has been advised by Legal & General Group Plc (L&G) that it no longer has a significant shareholding in Minoan.The number of Ordinary Shares in issue has increased from 145,923,865 when L&G first acquired shares in the Company to the current total of 188,831,524.01 April 2015The beneficial shareholding of Legal & General Group Plc remains unchanged at 7,250,000 Ordinary Shares but, as a result of the share issues announced on 24 March 2015, this now represents 3.89% of the total 186,309,204 Ordinary Shares currently in issue.
Jack Diamonds
06 Jan 2016
+4M traded by lunchtime today............. .......bit of price action this morning above 9p is nice to see.Crete Post reiterating the last RNS but nothing new.......as yet !!Jack[link]
si derman
04 Jan 2016
Re: Happy New Year Be nice if we could break through this two year down trend. [link] looking for at least a four bagger on PD. I'd be happy with that. GL for 2016, Si.
Jack Diamonds
30 Dec 2015
£12.5M for 25%........ The JV agreement signed in Oct 2012 gave Candia Investments the option to purchase a further 25% of the Project for £12.5M. Admittedly this was some 3+ years ago, when the Candia took 10% for a £2M investment. Clearly if they take up the option of the additional 25% that would put a seed level valuation on the Project at 2 to 3 times today's Market Cap. That excludes the core travel business which has been consolidating and growing over recent years. I think it was a good move to advance their decision making process, as only the BOD should have a clear vision of what other potential JV partners would be prepared to offer. Can't wait to get the PD signed, so that Project participation and valuation can be established. Look like 2016 will be good after all........JackThe terms of the Joint Venture ("JV"
announced on 20 June 2012 have been amended to take account of changed planning procedures. The right of the JV partners to increase their stake in the Project by 25% at a cost of £12.5 million will now be triggered by the issuance of the PD.
Jack Diamonds
30 Dec 2015
Happy New Year .........things look to be moving along and the old JV partner is being stirred to make a descision pronto on PD signing. Hopefully Mr Day has been extremely busy for the last 12 months!!Happy New Year to all ShareholdersJack30 December 2015MINOAN GROUP PLC(the "Company", "Minoan" or the "Group" Changes to JV Agreement and OptionsFollowing its announcement on 20 October 2015, the Company has been advised that the process for approving the presidential decree ("PD", which resembles an outline planning consent, is now reaching its final stages.The terms of the Joint Venture ("JV" announced on 20 June 2012 have been amended to take account of changed planning procedures. The right of the JV partners to increase their stake in the Project by 25% at a cost of £12.5 million will now be triggered by the issuance of the PD.Recognising the changes in planning procedures in this manner has the effect of bringing forward the date on which the JV partners have to decide whether to purchase the additional stake. This will provide greater visibility during discussions with other potential partners, which can now take place at a substantially earlier date.OptionsAs announced on 26 April 2012, Options to purchase a maximum of 3,607,692 Ordinary Shares in Minoan at 1p per share were granted to certain directors in the Group, and a former director, in exchange for the waiver of outstanding salaries of £469,000, based on a share price of 14p per share less the option exercise price of 1p. As recommended by the Remuneration Committee, the expiry date of these Options has been extended from 31 December 2015 to 31 December 2016.
hubla
30 Dec 2015
Re: RNS Update Minoan now need to push on please dont let negotiations drag on and the share price drift back down, this should be in the 20's
si derman
30 Dec 2015
RNS Update Just sign the damned thing already, jeeze.
Jack Diamonds
16 Dec 2015
Will Santa deliver in 2016............? Well it took an amazing 5 months to update Shareholders on last years results. The RNS of 31 March 2015 sounded positive and full of promise. Shareholders would have warmed with Christmas glee that Dec 2015 could have produced a result. The Greek bail out crisis hit us hard, and the Crete project took another back seat. Nearly there we are informed in Oct 2015!! You would have thought that this type of project is just what the Greeks need. Investment, Employment and income stream from so called high end tourists. I guess we are where we are. Mr Day spending the last 9 months assisting with creating value with 3rd Parties.Will we have to wait until March 2016 for a further update from the Company. Let's hope 2016 brings home the bacon for long suffering Shareholders. We wait.........JackHIGHLIGHTS · Substantial progress has been made in both of the Group's divisions during the year under review, the major benefits of which will be felt in the current year · Total transaction value and gross profit for the Travel and Leisure ("T&L" division for the new financial year are cumulatively ahead year-on-year in excess of 15% · Gross profit for the year ended 31 October 2014 was up approximately 10% from £5,196,000 to £5,680,000. · Plenum of the Greek Council of State has unanimously approved the terms of the Presidential Decree in respect of the Group's Project in Crete (the "Project" · Final steps will be for the Presidential Decree to be signed by the relevant Ministers and President of the Greek Republic · Discussions with joint venture partners and others have been ongoing and are expected to accelerate following the issuance of the Presidential Decree · Group well-positioned to reap the benefits of the excellent progress made in securing final approval for the Project and of the buoyant trading performance of the T&L divisionMinoan Chairman, Christopher Egleton commented: "Significant advances were made across both divisions over the past financial year leaving the Group in an enhanced position to further expand its operations and bring to fruition its Crete Project. The T&L division's acquisition and brand integration strategy are driving a strong trading performance, underpinned by margin growth, which is boosting gross profit and provides a strong platform for planned further expansion to transform the division into a robust international leisure and travel business. The Group has never been closer to realising its ambitions in respect of the Project. The issuance of the Presidential Decree will not only generate immediate value but will also allow the Group to implement its plans to develop an environmentally respectful, world-class tourist resort. This should have a long-term positive impact and would be a significant asset for the Greek tourist industry, which the new Government has championed as a key part of the economy. Given these developments, the Group looks forward to realising the benefits of the substantial progress made, both through an improved trading performance and in terms of boosting shareholder value."
Jack Diamonds
18 Nov 2015
Share Issue......... So we have a Supplier that is happy to take Shares at 9p for the £104k owed. No funds were raised and we got slightly diluted.........I guess it shows confidence from the Supplier as they now need to off load the shares to get their cash back. Clearly the Company feels it doesn't need cash at this point otherwise they would have a fund raise by issuing Shares for cash. Interesting tactics and the lack of news continues...............
si derman
30 Oct 2015
Re: Yawn Racing away at almost tectonic speed. But, little by little is fine by me.GLA, Si.
dont shoot u dont score
30 Oct 2015
Re: Yawn cooking on gas my friends, any day now
tatttie
21 Oct 2015
Yawn If you can remember, last November there was great excitement awaiting the final approval.
si derman
20 Oct 2015
Re: RNS - Greek Update And so, we continue to wait. But one day....GLA, Si.
Jack Diamonds
20 Oct 2015
RNS - Greek Update Looks like we are starting to get some traction with Government. Watch this space, as we hopefully get some pace back in the SP. Year end next Friday........will be good to see some news on the Travel business. Has income picked up and was the booking systems issue resolved satisfactory?2016 forecasts were reported to be "as expected". Is this still the case Or have targets for 2016 been revised?JackMINOAN GROUP PLC(the "Company" or "Minoan" Greek UpdateThe Company notes the recent rise in its share price and of certain comments both in the UK and in the Greek press.Following the signing of the new "Bail Out" agreement in Greece and the subsequent election on 20 September 2015, which enhanced the Government's position, the turbulence of the last six months has lessened and the country appears to be entering a period of greater stability with the new Government now in place. As announced on 18 March 2015, the draft presidential decree ("PD" in respect of the Company's project in Crete (the "Project" was unanimously approved by the Plenum of the Greek Council of State and all that remains for its final approval is for it to be endorsed by the Government prior to being issued by the President of the Greek State.Since the election there have been numerous statements, interviews and speeches by various ministers and the Prime Minister proclaiming the need for new investments in Greece.The process for approving the PD is part of previously announced changes to planning procedures, which were put in place to speed up and simplify the previous extremely complex rules and to give investors greater certainty and security. The process for the issuance of the PD requires it to be endorsed by the relevant Ministers prior to being issued by the President of the Greek Republic. The Company understands that this process is now under way.The Company looks forward to providing shareholders with further updates in due course.
supeman1
20 Oct 2015
it was at a stupid low price
