Minoan Share Discussion Threads

[microscope] 26/4/2018 22:15

New broker, new poster. I do love these coincidences. 'Smoke' - and mirrors :)

PS; only joking... I think ;)

[atlantic57] 26/4/2018 21:56

Scotty you have been a good source reliable data over many years on this one...

[daicaprice] 26/4/2018 21:41

Agree scotty, they were asked if they wanted to take part in a 6p fundraiser as existing shareholders, they said Yes put dosh up front and dripped their current holding shares into the market around 7.5p.
I am not one I may add even though I use WHI as my phone up brokers and have £70k with them, not all MIN of course.

DC

[scotty1] 26/4/2018 20:18

atlantic if anything they would have already forward sold knowing they would get them cheaper in the placing.No disrespect toolsmoker but do you actually know how the markets work?also unless you can back up your so called sources i will stick with what facts i personally know.

[atlantic57] 26/4/2018 20:06

Toolsmoker not clear on your comments.
Surely those who took part in the placing
Won’t own the shares till May.

[arthur_lame_stocks] 26/4/2018 18:43

I wonder if i'll ever be in profit here again. Ho hum.

[toolsmoker] 26/4/2018 18:03

This sale will be done by mid May hearing top end 7 mill to min. Look like most the weak placing holders sold today should move back towards 10p over next few weeks .happy to add and hold here

[justjill] 26/4/2018 17:04

The same argument could have been made more more strongly at Christmas when they made a complete shambles of things....still, doesn't answer the question.

However, surely there can't be a problem with the T+L sale....especially when there was clear recent evidence of strong performance.

Perhaps too, the signature of partner in Crete is waiting on the signature for the T+L sale, as maybe they want a "clean" investment with MIN.

As a side issue, this sort of thing just shows how meaningless the investor shows are. I mean did anyone get any inkling of this when they talked to MIN Reps at investor show? No, of course not, cos MIN couldn't say. Peeps might have bought on what they heard, yet here we are just a few days later in the big drop zone!

[wi1l] 26/4/2018 16:55

Well I thought something was up and placing was somewhere quite far at the back of my mind. Keeps them going with additional working capital but grates when I bought some at over 8p this morning, rather oblivious to all this but hindsights a wonderful thing. Still, ave just about where we ended up so STILL all to play for!

[sandcrab2] 26/4/2018 16:53

'If that is the case, why did Minoan not wait so that it could cash in on the higher price? '

Because the sale of Travel is not imminent

[atlantic57] 26/4/2018 16:52

Nigel sums it up very well.You would expect the sale of the travel side to give the shares a boost ,why do a placing now ?

He says it is still buy...

[mdvorkin] 26/4/2018 16:32

Minoan - grrrr, placing at 6pBy Nigel Somerville, the Deputy Sheriff of AIM | Thursday 26 April 2018OK, it is only half a bernie but shares in AIM-listed Minoan (MIN) had been doing better of late. Now it has done a placing at 6p (the shares were 8p yesterday), welcoming new joint broker Cornhill Capital to the Minoan Team. Apparently this is all good news and Christopher Eagleton is pleased to have raised the funds. So that's alright then. Never mind the 25% discount....We are told the cash will be used to support Minoan's efforts to capitalise on Cavo Sidero and provide working capital. Right, so it isn't supporting on-going losses then....But we are reminded that it still hasn't got final sign-off on the sale of its travel and leisure business which is "impending".My view is that the sale of T&L, if it finally completes and pays down substantially all of Minoan's debt, will give the share price a big boost. After all, if Minoan is not saddled with a cash-guzzling operation and gets rid of its debt then you have a far simpler story to tell. Valuing it would be so much easier, and so I would expect the shares to motor on upwards when the news comes.If that is the case, why did Minoan not wait so that it could cash in on the higher price? Though it sticks in the throat, I still think the shares are a buy but this - and the late publication of its FY results - does worry me a little.

[colinzeal] 26/4/2018 16:08

Board should be voted out.

[scotty1] 26/4/2018 16:04

reliable in what respect toolsmoker?did they tell you who was buying travel side?
selling under bid now.

[rspiros] 26/4/2018 15:35

just for fun :)

[toolsmoker] 26/4/2018 15:18

I very reliable source

[scotty1] 26/4/2018 15:13

Toolsmoker who told you mid May?

[waterloo01] 26/4/2018 15:04

I guess if the travel sale leaves them essentially debt free they still need cash to keep running while they focus on Sitia. As they have mentioned bringing in some more specialists into the team, I guess they can't run on empty. I hope the person/people have the right level of experience in these sorts of projects on this part of the Med. I also understand the travel sale is still happening.

[toolsmoker] 26/4/2018 14:57

Been told mid May will be sorted .bid getting stronger think it's a buy here

[sandcrab2] 26/4/2018 14:51

'didn’t see that coming with the travel business sale imminent.'

As I said above, it obviously isn't imminent

'Did they not say a while ago that they'd prefer bank debt as opposed to more equity dilution?'

Indeed they did

[waterloo01] 26/4/2018 14:29

I think that's one reason they are considering doing it plots with a number of partners across the site (one for the hotel etc).

The total spend is over some years. What Loyalward bring is the land lease and 10+ years getting permissions. The vast majority/all the money to develop will need to come from partners as agree Min don;t and are unlikely to have the funds themselves.

[glibgibon] 26/4/2018 14:18

Sale of the Travel Company removes the debt; well, most of it. Placings are the only way that the company will be able to raise funds as they have no other income stream after the sale takes place.

I can't see the company doing anything quickly, let alone agreeing a partnership or joint venture. Anyone investing in the construction of the project will be wanting Minoan to contribute and they have nothing to give. That means diluting their % holding in the project and this may conflict with the terms of the agreement with the the church. They will still be required to spend the amount originally required.


If Loyalward or a subsidiary of Loyalward proposes to sell shares representing more than one half of its share capital to a new strategic investor then the prior consent of the Foundation must be obtained. The Foundation will only withhold consent if such a sale would bring it into a direct or indirect relationship with undesirable or disreputable persons which might embarrass the Foundation and the Greek Orthodox Church e.g. persons who promote practices condemned by the Orthodox Church. No assignment of the Contract is allowed by any of the parties to any third party. Any disputes related to the Contract will be referred to arbitration in accordance with Greek law. If after ten years from activation of the Contract, Loyalward has not invested at least £250 million (in 1994 prices) in the Site, the Foundation has the right to terminate the Contract without having to pay compensation. In case of doubt, the Contract is to be interpreted in favour of the Foundation. On termination of the Contract Loyalward is obliged to give up possession of the Site in good condition.

[colinzeal] 26/4/2018 14:04

Did they not say a while ago that they'd prefer bank debt as opposed to more equity dilution? The CEO is a spiv.