Minoan Group PLC Update (4147Q)
06 June 2018 - 4:00PM
UK Regulatory
TIDMMIN
RNS Number : 4147Q
Minoan Group PLC
06 June 2018
Minoan Group Plc
("Minoan" or the "Group")
Update
General
The proposed disposal of the Group's travel business is
proceeding, albeit more slowly than previously envisaged. Sales for
the 6 months to 30 April 2018 were comfortably ahead of the
previous year.
In Greece, discussions with prospective partners are continuing
and we expect to provide further updates as negotiations
progress.
Share Issue
Minoan is issuing, subject to admission on AIM, 1,220,000
ordinary shares of 1p each ("New Ordinary Shares") at 6p per share
to settle certain existing liabilities. Application has been made
for the New Ordinary Shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will be effective
from 12 June 2018.
The New Ordinary Shares are issued under current authorities.
Following Admission, there will be a total of 228,903,442 ordinary
shares of 1p each 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.
Grant of Option
The Group has granted an option to a new advisor for Greece to
subscribe for 2.5 million ordinary shares of 1p each at 8p per
share. The final subscription date for the option is 5 June
2020.
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
Duncan Wilson duncan.wilson@minoangroup.com
Bill Cole william.cole@minoangroup.com
WH Ireland Limited 020 7220 1666
Adrian Hadden/Alex Bond
Cornhill Capital Limited 020 7710 9610
Daniel Gee
Morgan Rossiter 020 3195 3240
Richard Morgan Evans/James Rossiter
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END
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