Minoan Group PLC Share Issue/Options (6427S)
23 December 2016 - 1:14AM
UK Regulatory
TIDMMIN
RNS Number : 6427S
Minoan Group PLC
22 December 2016
22 December 2016
MINOAN GROUP PLC
("Minoan" or the "Group")
Share Issue/Options
Share Issue
Minoan is issuing, subject to admission on AIM, 2,700,000
Ordinary Shares of 1p each at 8p (new Ordinary Shares) to settle
certain existing liabilities. Application has been made for the
2,700,000 new Ordinary Shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will be effective
from 4 January 2017. Following Admission, there will be a total of
197,350,968 Ordinary Shares in issue. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, Minoan under the FCA's Disclosure
and Transparency Rules.
Options
As shareholders will be aware from previous announcements,
certain Directors and executives have historically agreed to accept
options in lieu of their salary and other entitlements. These
options (with exercise prices of 1p and 7p per share) are due to
expire on 31 December 2016.The Remuneration Committee has decided
that it is in the best interest of the Company to extend the expiry
date to 31 December 2017.
In addition, the Remuneration Committee has also elected to
extend the expiry dates of options with exercise price of 8p and at
10p per share from 31 December 2016 to 31 December 2017. These
options were granted to satisfy certain existing commitments,
As a result, the expiry dates of the Options shown below are now
31 December 2017.
Number of Exercise
Shares Price
----------- ---------
11,252,136 1p
----------- ---------
2,575,000 7p
----------- ---------
2,500,000 8p
----------- ---------
250,000 10p
----------- ---------
Christopher Egleton, Chairman of Minoan commented on the Group's
current overall position as follows:
Whilst awaiting the decision of the Greek Council of State, your
Board has continued to examine and widen the range of strategic
options open to the Group in order to maximise shareholder value in
both the short and medium term.
I am also pleased to inform shareholders that although we are
still in the opening quarter of our current financial year, trading
in our travel business has begun the year strongly and is
comfortably ahead of the corresponding period last year.
For further information please visit www.minoangroup.com or
contact:
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
Duncan Wilson 0141 226 2930
Bill Cole 020 8253 4305
WH Ireland Limited 020 7220 1666
Adrian Hadden/Nick Prowting
Throgmorton Street Capital 020 7071 0808
Forbes Cutler
Morgan Rossiter 020 3195 3240
Richard Morgan Evans/James
Rossiter
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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