Minoan Share Discussion Threads

[scotty1] 05/6/2018 09:26

Minoan hit an upwards weekly price breakout.
33 minutes ago -
MIN triggered a breakout alert.

Looking good for a breakout accordingly,some just cannot see the wood for the trees,may and as been a long time coming but imo the time is nigh,do the maths 🤔

[scotty1] 05/6/2018 08:05

Offer creeping up,buys at 6.4p,news could land any time,hopefully see another up day,way undervalued with the asset they have,be in before the herd arrives which they will imo 😁

[scotty1] 04/6/2018 12:37

Looks like seller cleared with that sell delayed from Friday,may see some upward movement now with a bit of buying.Tick tick.

[wi1l] 04/6/2018 12:23

And quite unexpectedly up we go!

[pj 1] 04/6/2018 12:11

hmmm

The 'lack of funding' scenario for the Purchaser certainly seems to fit. It certainly wouldn't be the first time this scenario has played out. However, for all we know, the funding may be more complicated than we know, for example, the buyer could be undertaking a number of purchases at the same time. Doubtful though.


I did find it unnerving that a paid for researcher had to reaffirm progress from a paid for article very recently. Why didn't the Company update us direct?

Maybe those here who are in regular contact with the BoD could seek more clarification? It would be extremely embarrassing for MIN if TCW's article proves correct.

By the use of his last sentence ''update it's long term suffering shareholders'' implies no shares held or the word ''us'' would have been used. Unless there is some fact behind it off course.

Very worrying at least imo

[atlantic57] 04/6/2018 11:13

The amount of time taken for due diligence is laughable for such a piddling transaction.It is self evident from the delay that something does not feel right.

The Board will have to communicate with shareholders by the end of the month of June
2018.

Minoan is a salutary lesson for any private investor , never fall in love with a stock.

Those of us who have been here for many years have been foolish, we thought the Bod would generate value for shareholders.

The only thing they have achieved consistently is generate substantial salaries for themselves.

There is still time for the Bod to pull a rabbit out of the hat.

However it is feeling increasingly like we are on the titanic and it is 2.20 am

[colinzeal] 04/6/2018 10:48

You're more likely to see Egleton strip stark b0llock naked and run down The Strand than get an RNS in the near-term.

[the covert wanderer] 04/6/2018 10:37

It would now seem logical to conclude that the Purchaser is struggling to obtain the funds to proceed with the Travel business purchase. The constant delays in updating the Market is disgraceful. Due Diligence just cannot take this amount of time, just imagine the costs that would be built up if it did. Other terms must have been agreed or Due Diligence would not have commenced which were confirmed by the use of "credible" via RNS.
Maybe the Company would care to update it's long suffering shareholders?

[wi1l] 04/6/2018 07:07

Not at all sandcrab. The DCI marketing was showing a project not so far away but as far as I can see the CS project is a development over at least 4 similar areas plus a golf course. Phase one was supposed to be a hotel/apartments/golf complex etc at Grandes Bay. Phase two was a hotel/apartments at White Sands, Porto Sidero and Crystal cove. Have a read of the recent Align research.

[sandcrab2] 04/6/2018 05:51

So the CS project at Sitia is worth just $16m ?

[wi1l] 03/6/2018 08:46

That's interesting fireplace - Probably just clutching at straws but was hoping to see similar marketing on Minoan plans for their golf course, hotel, marina etc which is a part of their development. However, it shows there's value in their development in the same area of Crete at the very least.

[fireplace22] 03/6/2018 08:38

Acording to this DCI have sold out - and it seems remarkably cheaply?


Disposal of Sitia Bay project



DCI, a leading investor in high-end residential resorts in the eastern Mediterranean, is pleased to announce that, in line with its strategy to realise value through an orderly sale of assets, it has entered on 18 January 2018 into an agreement for the disposal of its 77.8% interest in the Sitia Bay Resort project (the "Disposal"), the Group's residential resort development in Sitia, eastern Crete, to its minority partner in the project, Iktinos Hellas S.A. (the "Acquirer").

The Acquirer will purchase all of DCI's stake in Latirus Enterprises Ltd, the holding company owning around 98% of the Sitia project, for a total cash consideration of up to €15m.

[fireplace22] 03/6/2018 08:34

wi1l, Dont know what you are thinking but they seem to be independent on anything MIN is up to:

Nikki Beach
in Ermioni Argolidas and has already reached an agreement for the sale of the 78% of the
‘Sitia Bay Golf Resort’ project at the price of 17.2 million euros during Q3 2016. DCI has
already reached an agreement for the construction at Sitia of a Waldorf Astoria hotel,
which constitutes the highest quality hotel chain of ‘Hilton Hotels and Resorts’ group,
while the relevant Presidential Decree regarding the approval of the urban planning was
signed during H1 2016.

[wi1l] 03/6/2018 08:19

Might be wrong here but it would appear that Dolphin Capital are marketing something remarkably similar to what I was expecting Minoan doing in a similar area?? Google Dolphin Capital Sitia Bay Golf resort and see what you think. Seems they are ahead of the game - pity its just what I would want to see from this co.

[hugothesecond] 02/6/2018 11:45

We will probably find out re Hillside on the 30th June - just like last year !
Would not surprise me that we will be provided with an update about the T/L proposed sale on the same date.
I imagine that Hillside will then continue to fund the CS project moving forward with a revised loan agreement.

[wi1l] 02/6/2018 09:53

There should have been a date set on this exclusivity agreement atlantic. These agreements are used to try to ensure that the other party to a prospective deal negotiates solely with the client for a period of time. They aim to give the client some protection from another party outbidding him. Therefore there will be an agreed period of exclusivity and when the time is up they can deal with other interested parties (if there were any). Assume therefore that they have not yet reached the appropriate date although CE said way back on 6/4 'near future' and by 26/4 it was an 'impending sale' - a minoan translation would be helpful!! Its like buying a house being totally reliant on the honesty of someone you don't know, can go either way with little or no ability to influence the outcome. The exclusivity deal should (?) help them.

[atlantic57] 02/6/2018 08:41

Wi agreed

Can you imagine any Bod giving a third party exclusive rights to negotiate a purchase but with no time limit to complete.

[wi1l] 02/6/2018 07:56

A minoan time-out surpassing all others. And still we all have to wait for news. Was convinced that at some stage last week there would be an update at the very least but not so fortunate. However, repeating this yet again, the fact that we have not heard to the contrary means the T&L sale is still going ahead. Maybe next week...……;……..

[atlantic57] 01/6/2018 16:27

Optrade look back through RNs announcements.minon owe Hillside a large
Amount of money currently paying them
The modest rate of 10%per annum interest.

They also issue them with warrants to buy shares regularly thus causing further
Dilution.

Loan last renewed in dec 17 must be looked
At again June 18

[hugothesecond] 01/6/2018 15:15

Interesting to see you can either buy or sell at 6.2 upto 300k - there is lots of smoke and mirrors going on - latest sells could well be buys !

[optrade] 01/6/2018 15:05

its okay i know who they are

[optrade] 01/6/2018 15:03

Atlantic57 who are hillside thanks

[wi1l] 01/6/2018 12:39

Looked guaranteed to go up but in true Minoan fashion it went down!

[scotty1] 01/6/2018 12:38

MMs trying it on imo don't be fooled