Minoan Share Discussion Threads

[hugothesecond] 08/5/2018 11:35

Agree Justjill - we are now very close I expect. I think we shall see some price improvement from the placing level.

[justjill] 08/5/2018 10:52

I suspect that the signature of the partner in Crete is waiting for the signature on the sale of the T+L.

Just think that partner for Crete wants Co focused just on that alone, without all the baggage and complications of events related to T+L side.

[eric smith travel] 07/5/2018 13:07

Dart group which includes Jet 2 airline and tour operator was named in a two word post on LSE with no futher explantion

[wi1l] 06/5/2018 10:03

Have a feeling L&G owned a few quite a long time ago but by now prob diluted to next to nothing. The recent placing was to 'institutional & other investors' which may include a bit of stake building, but if you try on the open market the price would probably shoot up. A small effort at that saw the price go from 6.5p to 8p recently only to be overshadowed by the placing discounted to 6p - if anyone was stake building it would be probably via the placing route.
25% of the Co is in the hands of 4 shareholders of which 2 are directors of Loyalward the ltd co used to develop the CS project which suggests where their interest lies. But as to the remaining 74% who knows??

[arthur_lame_stocks] 05/5/2018 18:47

I have a few shares here but what worries me is the lack of institutional interest. I mean if a developer was interested why not build up a stake in the market with the price apparantly bombed out?

[wi1l] 05/5/2018 18:17

Hadn't thought of that Hugo - probably a small chance of it happening but would explain the delay.
Sitia airport expansion is handy as its not too far away from the site.

[hugothesecond] 05/5/2018 12:38

The more that there is a delay in the T/L sale highlights to me that there is a much bigger picture here. The travel side should have been sold well within the 4 months even with DD. So how about a deal that includes the T/L with planning on CS - could be any of the big travel players DTG (unlikely) or TUI (likely) or TC (possible). The later 2 of course have travel interests across Europe so CS planning would be of interest. The opening up of Sitia airport will be a big supporting element in long term access to region.

[wi1l] 05/5/2018 09:40

Mind you Min after the T&L business sold, debt free, PD for CS development and a M/C at 75% discount does appeal more!! The party interested in a substantial slice of the CS project might prefer to buy the business outright rather than have to deal with the oldies on the current bod. The potential that Min offers may well then have a better chance of being realised. Those in the recent placing must be thinking the same.

[wi1l] 05/5/2018 08:32

Must be a good price Scotty, much better anyway than the 8p I was naively buying at before the placing but that would have been good even a few months ago! All we need now is for Min to negotiate their next hurdle which must be the T&L sale, there could have been more than one prospective buyer hence the exclusivity agreement but that should have a time-limit included in the terms. Someone on lse board came up with DTG but not sure whether that was the T&L sale connection. I wish they would get on with it whoever it is. Either that or return to the status quo as that wouldn't be a disaster as the T&L business was doing well and trading profitably.

[scotty1] 03/5/2018 14:44

Well chaps i know i said i wouldn't but i have,added a few that is,not showing yet as per usual.My thoughts are hopefully those that took part in the small placing at 6p know a little more than us so buying under the placing price must be a steal,we will see :)

[pj 1] 03/5/2018 09:09

As far as UK time scales go then an agreed T&L sale has well passed, and I fear we will see a decline in share price as the Market prices in the reducing hopes a deal will be struck.

Maybe the hopeful 'suitor'' is Greek, which may explain the protracted time frame?

If a deal is not completed then its hard to justify any credibility once again to the BoD, especially with the funding and placing history where they will be open to unwanted allegations.

Anyway fingers crossed.

[colinzeal] 03/5/2018 09:08

With these cowboys in charge they probably don't even want to give it up.

[hugothesecond] 02/5/2018 17:49

I am just astounded how long the T/L deal is taking to complete.

May be now that the placing of shares has been completed today we should now see some action later this week !

Then the re-rating should happen.

[wi1l] 02/5/2018 16:01

Yes Scotty, the CS development offers a lot to the upside and at some stage the M/C should reflect this. Depends IMHO on the first deal they do with ? the interested party, hopefully they will share some detail with us, but could be the starting point for an appropriate m/c adj. But as always we wait......... patience was obviously one of Minoan's virtues.

[scotty1] 02/5/2018 08:31

wi i agree it could come at any time,as soon as the travel side deal is closed i believe news on CS will be quick to follow,at a M/C of around £13m i reckon the shares are a steal imo.

[wi1l] 01/5/2018 20:54

I don't know sandcrab but presumably they want to choose the right partners so don't want to be hasty in their decision. I read recently that there was a conman acting as a property developer caught doing the rounds on developments in Crete, so they need to be cautious with their checks on prospective partners and that takes time.

I might be wrong but I thought the PD arrived June/July 2017,which is only ten months ago. They do seem to be moving in the right direction albeit at Minoan pace. They have the services now of an agent who knows the Greek market so presumably he is part of the vetting process. They have arranged a placing which should give them the breathing space. They have commissioned the Align Research too which all helps. The pieces of the jigsaw are coming together,gradually. They also have an interested party who wants to invest in the project although not sure how that is progressing nor how much of an involvement he wants.

I personally don't mind how long they take so long as the end result benefits Minoan and it increases the share price considerably. It seems many have become disillusioned understandably when that (possibly) might be just around the next corner.

[sandcrab2] 01/5/2018 17:16

'Investors/developers should be bashing the door down for an involvement or even outright purchase.'

Well they're not though, are they

I was expecting this 2 years ago

[wi1l] 01/5/2018 17:05

There's so much land there and they are building on only a fraction of the actual site, I would have thought any developer would want to be involved early and then be in a position to further develop the rest of the site if that is possible.

[wi1l] 01/5/2018 16:58

CE must be pretty determined to pull it off and probably the longer it takes and the closer it gets the more determined he should be. Its a great opportunity, what they are calling a 'real trophy asset' due to the picturesque location. A one-off development and by now he must have considerable knowledge of the area and the detail of the building proposed in the five areas. Investors/developers should be bashing the door down for an involvement or even outright purchase.

[scotty1] 01/5/2018 16:39

micro,they could sell all the project,it is a possibility imo.

[microscope] 01/5/2018 16:32

Had a look at the note, good read, if certainly glass half full view. There are positives to be taken, improvement in situation in Greece, attractiveness of site to potential investors, and project details among them. It's good to be reminded of the potential, when all I can sometimes see in a year's time is a fairly horrendous building site!

Of course it all comes back to financing. Hence my opinion of glasshalffull. Yes the site has attractions to investors as I said, however the conclusions of 50 million euros required up front (40-60) do seem to be based on successfully selling units almost before the builders have moved in, for example.

That is going to require a highly successful marketing campaign, and while they may sell a few, buying abroad (I know from personal experience) is a pitifully painful and slow process, even with the best legal minds on the case. It's not just that though, will people buy something off a computer screen? Some will, but enough? In this case the agreements with the monastery for example, there is a mountain of small print to wade through

And even if it is their best case of 50 million, which they might be able to borrow and/or get partner(s) for, it is still a large amount for a company with no money to raise.

I would like to see signs that this project is ready to move forward at pace within months if the target mentioned in the note to be completed or very well advanced by 2020 (seems wildly optimistic to me) is a runner! Projects have such a history of going grossly over-budget and overdue.

It's exciting, but do this management have the wherewithal to pull it off?

[scotty1] 01/5/2018 16:29

Yep DC still a little peeved myself but now have a understanding of why they had to have the placing and lets face it even more undervalued than it was a couple of weeks back since the pullback,got to be some money to be made from these lvls.

[scotty1] 30/4/2018 17:18

Yep they have got it wrong philby,probably up for tomorrow.

[philby1] 30/4/2018 14:05

Wrong video being shown scotty1, definitely not Minoan.