Minoan Share Discussion Threads

[atlantic57] 28/6/2018 13:54

Surely it is not unreasonable to expect
An update tomorrow morning.

[fireplace22] 28/6/2018 09:53

Well I hope those ladies in the Edinburgh travel agency know where their salary is coming from after Monday?

[colinzeal] 28/6/2018 09:47

Maybe we'll be treated to tripartite of bad news tomorrow; the collapse of the T&L sale, yet more dilution and a rollover of the loan on even more unfavourable terms. There is certaintly nothing to suggest the news will be good.

[pj 1] 28/6/2018 09:29

It certainly feels to me, that they are 'taking the p*ss'

[pj 1] 28/6/2018 09:28

Very good!!

Maybe the BoD enjoy playing this 'game' with their stakeholders.

[wi1l] 28/6/2018 09:18

Rename it the Minoan Celeste - all aboard the Minoan ghost ship drifting AIM-lessly - last seen heading slowly, very very slowly towards Crete.

[colinzeal] 28/6/2018 08:34

There is just no evidence of motivation from the BoD at all...they leave everything to the very last minute. Doesn't look like it will be the news we want either.

[fireplace22] 28/6/2018 08:17

9 years is short term in the Minoan doctrine.

[acliff] 27/6/2018 20:31

possible extraordinary management incompetence
if they dont get a move on they will miss a complete property cycle, of 9 years!

[atlantic57] 27/6/2018 17:41

Well I said there was no point speculating but everyone is so I may as well join in.
Negotiations must still be continuing for the sale of the travel business as they would be duti bound to update the market if they were terminated.

I am more concerned with :

A What Price Hillside will extract for extending the loan , if it is extended.

B How many more years it will be before cs is moneterised and shareholders see some value.

[justjill] 27/6/2018 17:23

Look as one of the otions i say above. T+L sale proceeding and near end game....but short term extension on loan required as not completed to tie in with loan.

If T+L sale was off, then they would have had to say so, and not hold it as add-on to new loan agreement announcement, as it's totally unrelated (in a direct sense)

On the other hand.... tomorrow is a new day.....and we could hear about T+L sale then.

Patience required. No other company's shareholders are better equipped! :)

[waterloo01] 27/6/2018 17:16

I would very much like to be wrong here as am a holder but the silence doesn't feel like it's golden. Right to the wire which is rarely good.

[hugothesecond] 27/6/2018 15:17

interesting set of 50k buys at 1500

[scotty1] 27/6/2018 07:52

Nope,only deadly silence all the way round, it's a sit and wait and hope we don't get that after hours RNS.

[wi1l] 27/6/2018 07:24

Stangely the longer this goes on the more I feel the sale will happen - may well be overly optimistic at this stage, although no news to the contrary. Any news from your end Scotty?

[daicaprice] 26/6/2018 15:10

Waterloo I think they are finally going to nicely suprise us with your exact scenario, I will be disappointed if it is just the sale and debt payment option although it should give us a much needed boost.

DC

[pj 1] 26/6/2018 15:07

Well, 8 months ago we all had the chance to join together and at least call an EGM, if not raise a vote of no confidence, so all the moaning has to be tempered by inaction. Who would have thought a long 8 months later and no progress that the Market is aware of.

Now then, what's the long term agenda of this BoD again?

[waterloo01] 26/6/2018 15:03

JustJill, the timing of termination of talks with the party is within MIN's control, and I doubt they will want to announce that without some other news. If it doesn't close it leaves them with Hillside and the last thing anyone wants is for them to convert it as it would give them control, so if travel doesn't close, if Hillside want to play hardball then they will have to raise. If Hillside will extend they might still raise some more. It's in their blood.

Of course we might just get an RNS saying it's sold, debt payed off and Crete proposals on the table, but I doubt it.

[justjill] 26/6/2018 14:54

Waterloo - my money is on them agreeing the sale of T+L before/as part of loan ending/short rolling. otherwise why not just announce the loan roll-over and get it out of the way.

Likewise if the sale has fallen through they would have said by now - would have too.

So I think this is big news week....who knows tomorrow?

[waterloo01] 26/6/2018 14:22

So what do we recon? Travel deal fallen over? Nothing looks like it will be coming out of Crete this side of the summer hols so will Hillside roll it over or mega raise?

[hugothesecond] 25/6/2018 10:26

will look at top up at 5.2 - sure to come over the next 24 hours.

[fireplace22] 25/6/2018 10:10

Not had years to develop the project - much of the time has been waiting for pp and the subsequent appeals. They should however have had contacts/interested parties in the frame in the meantime.

[colinzeal] 25/6/2018 10:05

People keep reiterating the valuation but it's only worth what someone else is prepared to pay for it: at the moment at least, it appears no-one wants any part of it! Remember that the BoD have had years now to develop the project - at an objective level you’d have expected to hear some semblance of progress, however small, by now. Therefore, until I hear differently, I can only assume that the BoD are incapable of monetising the asset or indeed, that the asset is not as prized as we have been led to believe. A lot hinges on this week and I only hope that I am pleasantly surprised by the end of it as opposed to being continually disappointed.

[justjill] 25/6/2018 10:04

As those of us around, and long-suffering enough to know....this can, turn on a sixpence, as the old saying goes. It can turn and shoot up by a good percentage in very short order.

[nick2412] 25/6/2018 09:57

colin, it usually works the other way with the rsi so low if they complete the sale. Ultimately though we have a Company with market cap of about £12m with a travel company value just about covering debt and an asset in CS worth anywhere between a rock bottom £50m and an optimistic £100m.