Minoan Group PLC Loan Facility Extension (4142L)

TIDMMIN

RNS Number : 4142L

Minoan Group PLC

03 October 2016

3 October 2016

MINOAN GROUP PLC

(the "Group")

Loan Facility Extension

Minoan Group Plc announces the extension of the Loan Facility with Hillside International Holdings Limited ("Hillside") from 31 October 2016 to 30 June 2017.

The expiry dates of the Warrants issued in accordance with the terms of the Loan Facility have been extended by one year to the dates shown below:

 
                              Ordinary 
                               Shares 
                                of 1p       Expiry 
                                each         date 
                           -------------  --------- 
 Exercisable at 8 pence       10,000,000   17/10/18 
  per share 
 Exercisable at 8 pence        5,000,000   27/11/18 
  per share 
 Exercisable at 8 pence       10,000,000   05/02/19 
  per share 
 Exercisable at 13 pence      10,000,000   07/08/19 
  per share 
 Exercisable at 8 pence        5,000,000   30/04/20 
  per share 
 Exercisable at 8 pence        5,000,000   28/05/20 
  per share 
 Exercisable at 8 pence        5,000,000   23/10/20 
  per share 
                           ------------- 
                              50,000,000 
                           ------------- 
 

Christopher Egleton, Minoan Chairman, commented:

"The extension to the Loan Facility will greatly assist the Group as it moves forward."

For further information please visit www.minoangroup.com or contact:

 
 Minoan Group Plc 
 Christopher Egleton            [e-mail] 
 Duncan Wilson                  0141 226 2930 
 Bill Cole                      020 8253 4305 
 
 WH Ireland Limited             020 7220 1666 
 Adrian Hadden/Nick Prowting 
 
 Throgmorton Street Capital     020 7071 0808 
 Forbes Cutler 
 
 Morgan Rossiter                020 3195 3240 
 Richard Morgan Evans/James 
  Rossiter 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 03, 2016 02:00 ET (06:00 GMT)