Minoan Group PLC Appeals Dismissed (0803J)
26 June 2017 - 4:00PM
UK Regulatory
TIDMMIN
RNS Number : 0803J
Minoan Group PLC
26 June 2017
MINOAN GROUP PLC
(the "Company")
Appeals Dismissed
Minoan Group Plc is pleased to announce that the Appeals
(petitions of annulment), against the Presidential Decree ("PD")
granting land use approval for its Itanos Gaia project in Crete
(the "Project") have been dismissed following the issuing of
decisions number 1704/2017 and 1705/2017 of the Greek Conseil
D'Etat.
The Company now has an un-appealable PD which, in effect, gives
outline planning consent for the Project and allows the Board to
take the steps necessary to crystallise value for all
stakeholders.
Christopher Egleton, Minoan Chairman, commented:
"As a result of the Greek Supreme Court's decision, the Company
can now accelerate the development of the Project, which will
include, inter alia; the continuation of negotiations for joint
venture arrangements with hoteliers, investors, partners and other
parties.
It also means that our long cooperation with the Foundation
Panagia Akrotiriani, the Municipality of Sitia and the local
community can begin to bring more prosperity to the area.
This decision represents the successful culmination of many
years of hard work by everyone in the Company with the patience and
support of the Company's shareholders.
I look forward to providing the market with more news in the
near future."
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/Alex Bond
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
MSCSEUFAIFWSEEM
(END) Dow Jones Newswires
June 26, 2017 02:00 ET (06:00 GMT)
Minoan (LSE:MIN)
Historical Stock Chart
From Apr 2024 to May 2024
Minoan (LSE:MIN)
Historical Stock Chart
From May 2023 to May 2024
