RNS Number : 7886X
Minoan Group PLC
30 June 2008
30 June 2008
MINOAN GROUP PLC
("Minoan" or "the Company")
Change of Accounting Reference Date/Greek National Land Plan
Change of Accounting Reference Date
The Board of Minoan, the AIM-quoted leisure resort developer, announces its decision to
extend the Company's accounting reference date
to 30 September 2008.
This date is a more usual one for leisure related companies. However, the main purpose is
to enable the Board to present to
shareholders, as part of its next audited financial statements, the most up to date position
of the Company. This will include the status of
the various factors relating to the Cavo Sidero Project and, in particular, the position
regarding the Appeal hearing due to be heard in
early November.
National Land Plan
The Board is also pleased to confirm that the National Land Plan has been approved by the
Greek Parliament as required by the Greek
Constitution.
In his speech to the Greek Parliament on 24 June 2008 advocating the approval of the
National Land Plan, the Greek Minister of
Environment, Land Planning and Public Works, Mr George Souflias, said: "The completion of the
National Land Plan is one of the most
important structural changes to happen in the country in recent decades."
The reformation of the Greek planning process, heralded by the approval of the National
Land Plan, includes provision for sustainable
integrated tourism developments. The Cavo Sidero Project fulfills the requirements of such
developments, being firmly based on the
principles of sustainability.
Minoan Chairman, Christopher Egleton, commented:
"The Board is delighted that this major development in the planning process has now been
approved. The National Land Plan is of great
importance to the Greek economy as a whole, particularly as it seeks to encourage major
investment in tourism."
For further information visit www.minoangroup.com or contact:
Christopher Egleton Minoan Group Plc
07808 722022
Bill Cole Minoan Group Plc
01689 897397
Jeremy Garrett-Cox/Nicola Marrin Seymour Pierce Limited
020 7107 8000
Nick Rome/Nick Farmer Bishopsgate Communications Ltd
020 7562 3350
Alan Frame Westport Communications Ltd
020 7404 7878
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUBANRWORNUAR
|