Minoan Group Live Discussion

supeman1 20 Oct 2015

up she goes

supeman1 20 Oct 2015

something going on?

Jack Diamonds 10 Oct 2015

Directors Interests................ Due to the delay in the Greece Govt getting back into full swing, all Shareholders need to sit tight (if they continue to believe the story)......Clearly, Shareholders that are also Directors are doing just that, including Mr Day with his 5.82%. Although we should not forget all the other Directors who swapped outstanding fees for options. For example, on 18 December 2013, £463k was divided by 10p to calculate the number of 1p Options to swap for the £463k.The last set of Statutory Accounts showed roughly 11.5 Million 1p Options. These are not give away's but Directors Fees converted to Options at their risk, as they believed the story. This was summed up by Christopher Egleton, Who commented:“The Directors have stated repeatedly their belief in the Group’s eventual success and their commitment to providing value for shareholders and have once again demonstrated this belief and confidence in the Group by taking equity in the Company in exchange for the majority of outstanding fees/salaries currently due to them”.A long time waiting, I agree, but all Directors are in with their hard earned cash. It's just a question of when the Govt/President get around to signing the PD.........Best wishesJack========== ========== ========== ========== ========== ========== =========The beneficial shareholding of Mr N Day is now 10,851,630 Ordinary Shares in the Company, which represents 5.82% of the total 186,309,204 Ordinary Shares currently in issue.========== ========== ========== ========== ========== ========== =========18 December 2013Minoan Group Plc(“Minoan”, the “Group”, or the “Company”Directors’ Share Acquisitions and Grant of OptionsThe directors of Minoan Group Plc, and certain directors of subsidiary companies within the Group, are reinforcing their confidence in the Company and its eventual success by acquiring equity and receiving share options in exchange for fees and salaries due to them totaling £699,000.In particular, the Directors have decided to acquire equity and options in exchange for their fees and salaries for the following reasons: to demonstrate their ongoing commitment to, and belief in, the future of both the Group’s project in Crete and its expanding travel and leisure business; and notwithstanding the new loan facility announced on 17 October 2013, to free up additional working capital for other purposes.In addition, for the same reasons, certain third parties have come to agreement with the Company to receive payments for services rendered by way of shares in the Company or share options as set out below.Shares issued in lieu of services providedOutstanding fees of £236,000 will be settled by the issuance of 2,360,000 ordinary shares of 1p each in the Company (“Ordinary Shares” at 10p per share, subject to admission to AIM.Included in the above are 1,935,000 Ordinary Shares being issued to Simmons International Limited, a company which provides Mr C W Egleton’s services to Minoan and in which he is a minority shareholder, and 425,000 to Mr J C Watts, a subsidiary company director.The Board has also decided to satisfy certain existing liabilities by the issue of Ordinary Shares to other third party service providers and consultants. As a consequence, a total of a further 1,449,000 Ordinary Shares will be issued at 10p per share, subject to admission to AIM.Options granted to Minoan and subsidiary company directorsOutstanding salaries due to Minoan Directors and subsidiary company directors of £463,000, will be waived by those directors in exchange for the granting of options to subscribe for a maximum of 5,144,444 Ordinary Shares (“Options”. The number of Options has been calculated based on a share price of 10p per share.Christopher Egleton, Chairman of Minoan commented:“The Directors have stated repeatedly their belief in the Group’s eventual success and their commitment to providing value for shareh

Jack Diamonds 21 Sep 2015

Good to hear....... .......what International Property Consultants and Valuers think of Greek tourism and investments. Looks like Greek Tourism continues to shine........and health Investor interest from Global playersHow do they know "the complex is expected to be operating in 2017" (see last para below)Back to the sunbed......JackTourism is one of the few sectors of the Greek national economy that is competitive at a global level. Despite the lingering economic challenges, tourism sector has shown a remarkable strength in 2014, a record year in tourism. Greece’s unique geographical characteristics, in combination with its highly developed and still fast developing transportation infrastructure and also the development and modernization of more specific tourist facilities, are expected to contribute to its development as a major tourist destination in Europe and as an international transportation hub of European proportions.According to the most recent data published by the World Tourism Organization (WTO), in 2014 Greece was in 15th place as regards of the number of international tourist arrivals, showing the third highest increase (+22.7%) among the fifty major tourist destinations in the world. 2014 closed with 24.5 million international tourist arrivals and 13.44 billion euros tourist receipts. Based on the initial forecast of the Association of Greek Tourist Enterprises (SETE), 2015 would be a new year record for the Greek tourism, with a target of 25 million international tourist arrivals (2.5 million from the cruise sector) and over 14 billion euros receipts. At the beginning of 2015, there were great expectations regarding the number of German tourists that would visit Greece and especially Crete, since the big German tour operators had increased their special offers and TUI initially intended to provide 10% more air seats for Greece relatively to 2014.Airports - ArrivalsBased on the data given so far, during 2015, a large number of tourists are expected to arrive at the airports of Heraklion and Chania, giving a boost to the tourist sector in Crete. After 30 years and namely at the end of April, the 1st British Airways flight landed at the airport of Heraklion after taking off from Gatwick airport in London. The airline has planned four flights per week and an extra flight during July and August. Furthermore, at the end of May, the German airline Lufthansa has begun after 20 years its flights from Munich to Heraklion. Finally, the low-cost airline Ryanair has significantly increased the number of domestic and international flights to Chania, the airline TUIfly has added three new flights from Stuttgart, Dusseldorf and Hannover to Chania and one from Vienna to Heraklion, while the Swedish airline Finnair has added to its weekly program two flights from Helsinki to Heraklion and six flights from Helsinki to Chania.June 2015 was a record month for the airport of Chania regarding the number of arrivals, due to the significant increase (25.25%) in the arrivals from Athens and Thessaloniki, while internationals arrivals remained at the record levels of last year. During the 1st semester of 2015, international arrivals numbered 838.260 at the airport of Heraklion (- 4.3% relatively to 2014) and 340.634 at the airport of Chania (+ 1% relatively to 2014). Based on the data given by OAG Schedules Analyser for August 2015, the airport of Chania is expected to hold the 1st place and the airport of Heraklion the 7th place in whole Europe, in respect of the airports with the highest increase in the number of scheduled flights relatively to August 2014. The constantly increasing number of flights landing at the airport of Chania has made the completion of the expansion even more imperative, a project that was initially planned to be delivered at the end of 2015. InvestmentsThere is a high interest from private equity funds and world calibre operators to expand in the Greek market, enhance infrastructure

Jack Diamonds 11 Sep 2015

It's interesting.............. That despite the recent SP fall to 6.55 it didn't rattle any of the major Shareholders. P D Raby 13,773,850 7.34%N Day 10,851,630 5.78%Legal & General Group Plc 7,250,000 3.86%Mrs L A Adams 6,292,442 3.35%N Day, a Director of Loyalward since Apr 15, has a significant stake which is always good to see. Also, as recently as 20 Aug Options were being bought up at 8p. Seems impressive the show of support given a week or so later the SP dipped to 6.55In addition, Suppliers were taking these at 9pIn addition, the Convertible Loans were placed at 15.5 and 18pIn addition, the warrants were increased from 8 to 13pIt will be very interesting if Candia Investment Corporation take up their 4M @ 8p on or before they expire on 30 Sep 15. Seems to me that many Parties can see value, despite the recent falls. Are they all wrong or are they all prepared to just sit it out. We shall see.............Jack========== ========== ========== ========== ========== ========== ========== Minoan is pleased to announce that, reflecting the progress made by the Group, the exercise price in respect of Warrants to be issued under the terms of the facility agreement with Hillside International Holdings Limited (the “Lender”, previously announced on 17 October 2013, has been increased from 8p to 13p per share.========== ========== ========== ========== ========== ========== ========== ==Having now completed the loan documentation, the Company is pleased to inform shareholders that the previously announced conversion price of 15.5 pence per share will now apply to £650,000 of the above amount with the balance of up to £850,000 being converted at 18.0 pence per share.========== ========== ========== ========== ========== ========== ========== ===Minoan Group Plc is issuing, conditional upon admission to AIM, 741,875 new ordinary shares of 1p each in the Company (“Ordinary Shares” at 8 pence per share following the exercise of Options.At the request of certain suppliers of services to the Group, the Company is also issuing, conditional upon admission to AIM, 620,445 Ordinary Shares at 9 pence per share to satisfy existing liabilities.Application has been made for the total of 1,362,320 Ordinary Shares to be admitted to trading on AIM (“Admission” and it is expected that Admission will take place on 26 August 2015.

Jack Diamonds 14 Aug 2015

Eurogroup agrees to third bailout So looks like we have a deal at last. You have to laugh at Dijsselbloem Saying the deal will allow the Greek economy to grow, when it was announced today that Greek growth was .8 the highest in the EU, beating even Germany. Now we want the PD signed off but I guess the vote of confidence on Tsipras next week needs to be sorted first. It's like pulling teeth, but Mr Days shareholding keeps the interest bubbling. JackEurozone finance ministers have agreed on a new bailout deal for Greece after Athens backed the plan.European Commission President Jean-Claude Juncker said the deal sent a message "loud and clear" - Greece will stay in the eurozone.The agreement demands tax rises and more tough spending cuts in return for Greece's third bailout in five years.The deal means new loans of up to €86bn ($95bn; £61bn) will be made available over the next three years.The first tranche will be of €26bn - €10bn to recapitalise Greek banks and €16bn in several instalments, the first of which - €13bn - will be made by 20 August, when Greece must repay about €3.2bn to the European Central Bank (ECB).The deal comes at a heavy political price for Greek Prime Minister Alexis Tsipras, who has faced a rebellion in his left-wing Syriza party.More than 40 Syriza MPs voted against him when parliament decided on the bailout agreement on Friday, after all-night talks. Reports in Greece suggest he will seek a vote of confidence in parliament next week, bringing the prospect of snap elections closer.Debt relief issueAnnouncing the "comprehensive and ambitious reform package", Eurogroup chairman Jeroen Dijsselbloem said: "All the intense work of the past week has paid If implemented with determination, the deal will allow the Greek economy to return to growth."He added: "Of course there were differences, but we have managed to solve the last issues."Mr Juncker said: "The past six months have been difficult. They have tested the patience of policy-makers and they have tested the patience of our citizens even more."Together, we have looked into the abyss. But today, I am glad to say that all sides have respected their commitments."He added: "The message of today's Eurogroup is loud and clear: on this basis, Greece is and will irreversibly remain a member of the euro area."The deal rules out any "bail-in" of depositors' savings in Greek banks.Greek Finance Minister Euclid Tsakalotos said the deal "takes Greece forward in the sense that the financial system should be much more stable from now onwards. There is a promise of recapitalisation of the banks, without any of the depositors having to bail in or anything to worry about."There will have to be a series of votes in national parliaments across Europe to back the deal.The BBC's Adam Fleming in Brussels says the finance ministers also confirmed that the thorny issue of writing off some of the Greece's debts would be considered in the autumn.This has been a crucial demand of both Mr Tspiras and the International Monetary Fund.IMF managing director Christine Lagarde said the deal was "an important step forward" but stressed again that Greek debt was "unsustainable" and that relief would be needed.This could still prove to be a stumbling block to IMF participation, and Finnish Finance Minister Alexander Stubb said: "Some kind of solution will have to be found."Arriving at the 19-member Eurogroup meeting in Brussels earlier, even German Finance Minister Wolfgang Schaeuble - one of Mr Tsipras's harshest critics - said he was optimistic about a deal.

Jack Diamonds 06 Aug 2015

Crisis, what crisis? ........................say tourists flocking to Greece !Having returned from a short spell in Santorini, my daughter said "it's a wonderful place"and by the looks of things, the other 25 Million tourists would probably agree.Come on MIN, let's get the party started !!JackReuters 06 Aug 15At London's Heathrow Airport, a traveler to Greece is offered a deal by Aegean Airlines: the flight is booked solid, take a different flight and get 400 euros ($440) and a free round-trip ticket to anywhere in Europe.Some hours later in Athens, a long queue moves slowly forward to passport control, while smiling but harried officials shout out "Santorini", "Mytilene" and the names of other sun-drenched Greek destinations as they try to herd tourists quickly toward connecting flights.Greece, despite all its economic and political strife, is heaving with foreign tourists."On TV they said we can come, there was no problem," said Thibault Larhant, a tourist from Normandy, in France, who was resting at an open air cafe in Athens' Syntagma Square, cooled by a fan spraying water vapor."We came to go to the islands, for the countryside," he said, adding that he and his companion had had no problems.Nearby, another French tourist sat on the "Athens Happy Train", a road vehicle with carriages that swings visitors around the main sights in Greece's capital, such as the Acropolis."My friend loves history and culture," said Christelle Fourdinier, from Perpignon, indicating her companion.Greece's ancient sites and holiday playground islands have been little changed -- from a tourist standpoint -- by an economic crisis that led to the closure of banks and the country coming within a hair's-breadth of leaving the euro zone.It is just as well, given that tourism accounts for around a fifth of Greek economic output -- perhaps more now that the economy is shrinking again."Tourism is ... our heavy industry, it is the main economic source of income today and also the main source of jobs for many Greeks," Minister of Tourism Elena Kountoura told parliament this week."Today it offers 750,000 direct jobs, numbers that rise to 1.5 million jobs including indirect tourism-related jobs."GIVING SUPPORTHard numbers for tourist arrivals are difficult to come by because it is only just high season, but there are signs.Aegean Airlines, Greece's largest carrier, says passenger traffic was up 19 percent in July compared with the same month last year.The economy ministry, meanwhile, estimates that arrivals this year will exceed last year's record of nearly 21 million. Some estimates put it at around 25 million."If the data we have so far is accurate and continues to show this positive trend, Greek tourism will have a positive season for 2015 in relation to previous years," Kountoura said.From queues for ferries at Piraeus port to crowds milling at the changing of the pom-pommed, skirted guard at the Greek parliament in Athens, anecdotal evidence would also appear to suggest boom time.This would be a much-needed boost for the economy, albeit one offset by an expected slump in domestic tourism as cash-strapped Greeks stay at home.Some places less popular with visitors abroad are having a tough time of it. But there is little sign of hesitancy among foreigners, some of whom also benefit from a weaker euro.The foreign visitors are not directly affected by Greece's debt crisis, the poverty provoked by austerity, a jobless rate of roughly 26 percent and the capital controls imposed on banks that limit Greeks to 60 euros of cash a day.Some, though, are aware of the crisis and say they are happy their visiting is helping out.Standing next to the 11th century Orthodox church of Kapnikarea, in Athens's Monastiraki district, Claire Murray from Lancashire, England, said she and her husband were coming to Greece twice on holiday this year, in part to give support."We like it.

tatttie 03 Aug 2015

Results More jam tomorrow....

Jack Diamonds 27 Jul 2015

House Broker........ Looks like the House Broker, WH Ireland, has not updated their target of 28p (when the SP was around 15p)[link] the recent update, Interim's on Friday should not produce any surprises. However, MIN did sound confident that Govt departments would be back to "business as usual" shortly and therefore the signing of the PD was imminent (?)Whilst we wait, the sun is still shining in Greece & plenty of folks are enjoying their holidays, spending their Euro's !!

mantrova 20 Jul 2015

Re: Tipped This was a tip from Hot Stock Rockets which is a paid for subscriber service. The essence was that the yes vote would give a lift to the sp.That did happen but the sp fell back very quickly.m

Bubsy the cat 16 Jul 2015

Re: Tipped Where and by who?

mantrova 16 Jul 2015

Tipped MIN tipped as a Buy last night.

si derman 15 Jul 2015

Re: Bailout deal....... Seems to be a fair bit of money coming in from other gov's for projects. I read somewhere over the last week that Russia was pumping in loadsamoney for various projects.Sold out in May but got back in at the end last week . Time will tell.gla S

Jack Diamonds 14 Jul 2015

Bailout deal....... Interesting to see €35Bn EU Funding set aside for "Growth and New Jobs".[link] this mess settles down, it will be interesting to see whether the profitability of the Crete Project has been downgraded or advanced ?With 1,200 jobs up for grabs, I would guess there would be some EU Funds to tap into for job creation etc ?Just because the Country is struggling doesn't mean to say that all businesses are also F*****, especially in the Tourism Sector...........

Jack Diamonds 14 Jul 2015

Trading Update....a Mixed bag 14 July 2015Minoan Group Plc(the “Group”Trading UpdateThe Directors of the Group are pleased to note that the well publicised situation in Greece now appears to be moving towards resolution. The Government, elected in January this year, has been concentrating its efforts on resolving the larger issues facing the country and, understandably, this has meant a delay in the procedures leading to the signature ofthe Presidential Decree (“PD” for the Group’s project in Crete.As announced on 18 March 2015, a Plenum of the Greek Council of State (the highest Court in Greece) gave its unanimous approval of the draft PD, which was signed off by the President of the Council of State. In normal circumstances the Greek President’s signature of the PD would have followed in a few weeks.In the hope that the agreement between Greece and the EU/Members of the Eurozone will now be ratified by the Greek Parliament, the Group has been advised that normal Government procedures will resume shortly thereafter.In the meantime, the underlying performance of the Group’s travel division has continued to improve with Gross Sales up by 15% and Commissions up by 17% in the current financial year. This is despite difficulties in Aberdeen relating to the oil price, which have had a detrimental effect on the performance of our corporate travel division. This will be ameliorated going forward by the recent acquisition of other non-oil related corporate customers. As can be imagined, the long running situation in Greece and, tragically, recent events in Tunisia have also had an impact. In addition, there has been a dispute with our back office services provider relating to cash settlements, which has now been resolved.The effect of this on our profitability means that the Group’s results for the current financial year will no longer meet current market expectations but are expected to be in line with the previous year. As these items are all one-off, we do not believe they will impact upon trading in the financial year ending 31 October 2016 and accordingly we believe that market expectations for this period remain valid.Nonetheless, the Group is continuing to pursue a number of opportunities about which we will update the market and shareholders when they are concluded. The Board is confident that the Group’s travel division will bear significant fruits in the coming year.We will be publishing our Interim Results at the end of this month and will give additional updates in due course.