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MIN Minoan Group Plc

0.75
0.05 (7.14%)
Last Updated: 08:34:33
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Minoan Group Plc LSE:MIN London Ordinary Share GB0008497975 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 7.14% 0.75 0.70 0.80 0.75 0.70 0.70 2,145,000 08:34:33
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hotels And Motels 0 -1.07M -0.0013 -5.38 5.75M

Minoan Group PLC Share Issue/Options (6427S)

22/12/2016 2:14pm

UK Regulatory


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RNS Number : 6427S

Minoan Group PLC

22 December 2016

22 December 2016

MINOAN GROUP PLC

("Minoan" or the "Group")

Share Issue/Options

Share Issue

Minoan is issuing, subject to admission on AIM, 2,700,000 Ordinary Shares of 1p each at 8p (new Ordinary Shares) to settle certain existing liabilities. Application has been made for the 2,700,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 4 January 2017. Following Admission, there will be a total of 197,350,968 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Minoan under the FCA's Disclosure and Transparency Rules.

Options

As shareholders will be aware from previous announcements, certain Directors and executives have historically agreed to accept options in lieu of their salary and other entitlements. These options (with exercise prices of 1p and 7p per share) are due to expire on 31 December 2016.The Remuneration Committee has decided that it is in the best interest of the Company to extend the expiry date to 31 December 2017.

In addition, the Remuneration Committee has also elected to extend the expiry dates of options with exercise price of 8p and at 10p per share from 31 December 2016 to 31 December 2017. These options were granted to satisfy certain existing commitments,

As a result, the expiry dates of the Options shown below are now 31 December 2017.

 
 Number of    Exercise 
   Shares      Price 
-----------  --------- 
 11,252,136      1p 
-----------  --------- 
  2,575,000      7p 
-----------  --------- 
  2,500,000      8p 
-----------  --------- 
    250,000     10p 
-----------  --------- 
 

Christopher Egleton, Chairman of Minoan commented on the Group's current overall position as follows:

Whilst awaiting the decision of the Greek Council of State, your Board has continued to examine and widen the range of strategic options open to the Group in order to maximise shareholder value in both the short and medium term.

I am also pleased to inform shareholders that although we are still in the opening quarter of our current financial year, trading in our travel business has begun the year strongly and is comfortably ahead of the corresponding period last year.

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

 
 Minoan Group Plc 
 Christopher Egleton            christopher.egleton@minoangroup.com 
 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

END

MSCZLLFLQLFFFBX

(END) Dow Jones Newswires

December 22, 2016 09:14 ET (14:14 GMT)

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