Share Name Share Symbol Market Type Share ISIN Share Description
Minoan 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
  +0.00p +0.00% 7.625p 7.25p 8.00p 7.625p 7.625p 7.625p 2,642 07:51:52
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 6.8 -1.6 -0.9 - 14.84

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Date Time Title Posts
17/10/201611:12Minoan Group- Travel and Leisure Company7,032
25/5/201617:28Minoan Group - with charts141
28/2/201621:52Minoan Group Leisure Resort Developer3,241
08/8/201322:44Minoan Grp-

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Minoan Daily Update: Minoan is listed in the Travel & Leisure sector of the London Stock Exchange with ticker MIN. The last closing price for Minoan was 7.63p.
Minoan has a 4 week average price of 7.41p and a 12 week average price of 7.62p.
The 1 year high share price is 14.38p while the 1 year low share price is currently 6p.
There are currently 194,650,968 shares in issue and the average daily traded volume is 90,209 shares. The market capitalisation of Minoan is £14,842,136.31.
atlantic57: Gerhart The original website gave some fantastic and very profitable tips . However from 2011 onwards Many of the Companies tipped either went bankrupt or became worthless The list of disasters included vgm norsman gold and niche group i should know because i was a holder of stock in these companies.The Comments made in the tips bore no relationship whatsoever to was actually happening in the Companies. I don't know what share prophets record is like. i suspect we all need to keep an eye on Deutsche Bank and the Us elections. These two factors could have a major impact on the health of overall market which in turn will greatly impact the share price of minoan assuming good news is eventually forthcoming' well before christmas'
rspiros: it seems that if the current buys continue, we will go prior of the PD appeals announcement issued with a share price near the year's high!!!
atlantic57: Costa I think we are in a situation of opposite forces impacting the share price. A) Speed of announcements or lack of announcements will be a major force on the share price movement. B) The failure to comment on how long candia have got before they must exercise their option is unhelpful C) The share prophet plug again is a mixed blessing it gives the the share price a boost but these people Are very short term If Scotty is correct then next week it could all come together
sportbilly1976: "On its own Cave Sidero is worth a multiple of Minoan’s share price and the T&L business on its own is also worth a good part of the share price." Spelling mistake multiple I do hope they don't mean x1.5 or something :) So say CS worth 25p+ (for 3x) with the T&L element maybe at 5-6p should definitely see this move significantly on official confirmation. I added a few more Friday afternoon, the highest price I've paid for MIN in almost 18 months!
aimshares: Update today from hot stock rocketsShare On Facebook PrintOn 24 February we reported here that Minoan (LSE:MIN) was on the verge of getting final sign off on its Cave Sidero project in Greece urging you to buy the shares at 6.5p. We hope you did as Minoan was forced to confirm our story and the shares are now 8.5-9.0p valuing the company at £16.5 million.We believe that an RNS confirming actual sign off is going to happen very soon indeed. On its own Cave Sidero is worth a multiple of Minoan's share price and the T&L business on its own is also worth a good part of the share price. So that RNS should drive a further sharp re-rating. We are are down on our orginal tip but hope you averaged down last week as suggested and so are feeling warmer about this stock.
atlantic57: We believe that an RNS confirming actual sign off is going to happen very soon indeed. On its own Cave Sidero is worth a multiple of Minoan’s share price and the T&L business on its own is also worth a good part of the share price. So that RNS should drive a further sharp re-rating. We are are down on our orginal tip but hope you averaged down last week as suggested and so are feeling warmer about this stock.
yorgi: This was the RNS on 20th October : Greek Update The Company notes the recent rise in its share price and of certain comments both in the UK and in the Greek press. Following the signing of the new "Bail Out" agreement in Greece and the subsequent election on 20 September 2015, which enhanced the Government's position, the turbulence of the last six months has lessened and the country appears to be entering a period of greater stability with the new Government now in place. As announced on 18 March 2015, the draft presidential decree ("PD") in respect of the Company's project in Crete (the "Project") was unanimously approved by the Plenum of the Greek Council of State and all that remains for its final approval is for it to be endorsed by the Government prior to being issued by the President of the Greek State. Since the election there have been numerous statements, interviews and speeches by various ministers and the Prime Minister proclaiming the need for new investments in Greece. The process for approving the PD is part of previously announced changes to planning procedures, which were put in place to speed up and simplify the previous extremely complex rules and to give investors greater certainty and security. The process for the issuance of the PD requires it to be endorsed by the relevant Ministers prior to being issued by the President of the Greek Republic. The Company understands that this process is now under way. The Company looks forward to providing shareholders with further updates in due course. 3 months later and still no PD one can't help wondering just how long they do require to complete this stage and grant the elusive PD. I thought then we would surely see the PD before the end of 2015 but it did not arrive. We are now well into January and still no sign of it, it could arrive tomorrow or it could be another 3 months but until issued it does not look like the share price is going anywhere........maybe slightly before the RNS is released of course.
atlantic57: Costa thanks for the updates! There will no doubt be a period of uncertainty as the new government seeks to negotiate a new start with EUrope no doubt this will impact the min share price. However as previously stated the central question remains how long will it take to get final approval this remains unclear. If you can shed any light on this that Would be most welcome.
rat attack: From Hot Stock Rockets: Buy Minoan at 8.625p We tipped Minoan (LSE:MIN) outside the paywall on before our HotStockRockets website was launched at 6p on 17th October. The shares are now 8.625p. But things are developing rapidly. If you are in already treat this as an update. If you are not treat it as a tip at an 8.625p offer price. Our target is now 12.5p by January 31st. By way of background have a look at our first tip from 17 October which reads: Minoan has been such a stockmarket dog for so long that it could announce that it has won the Euro roller jackpot lottery four weeks on the trot and most folks would not care. But that's the opportunity because it has today announced big news. First up there is a small acquisition for its travel and leisure business. It is paying up to £200,000 over two years to buy As You Like It which takes people on holiday to travel festivals. This operation gets strapped into the existing T&L infrastructure in Glasgow so bringing cost-savings and synergies and so will effectively pay for itself. The Glasgow operation can now handle annual bookings of up to £150 million – all it needs is businesses to buy. And Minoan has today announced that it has secured a three year £5 million loan facility at 8% which gives it to war chest to buy. If the whole facility is drawn down the lender can exercise warrants over 50 million new Minoan shares at 8p but my understanding is that Minoan will draw down just half of it and has no intention of drawing down tranche two. So my assumption would be that there is a £2.5 million loan (costing £200,000 a year in interest) but effectively this implies a future placing at 8p to bring in £2 million more. Typically in the T&L business Minoan has paid a PE of less than 4 but has paid up to half of that as a deferred consideration ( i.e. from the cash flows generated by the acquired business). As such £2.5 million should allow £5 million to be paid for acquisitions so boosting EBIT by £1.25 million and Earnings by £1.05 million. The loan can be repaid from year three cash flows + the warrant exercise. Having said that I imagine some of the £2.5 million will go on working capital rather than acquisitions. For the year to October 31 2014 (next year) the market had expected Minoan to deliver a PTP of £600,000. Assuming about half of the proceeds of the loan were invested quickly and no-one expects CEO Duncan Wilson to hang around you are now looking at a PTP of at least £1 million. Assuming that the warrants were exercise then at 6p the market cap is £10.5 million. That seems far too low for a business which stated today that it is delivering double digit sales growth (something that will be reflected in current year numbers). A PE of 10 is not a growth PE. There is still the Cave Sidero project in Crete where planning delays have been a [perennial nightmare. The statement today reads: "The Strategic Environmental Assessment ("SEA") is now in the final stages of preparation and will be ready for submission very shortly. As previously reported, this is a substantial document, which includes a number of studies that are required to be as current as possible. The approval of the SEA is equivalent to the granting of outline planning consent in the UK and, as such, constitutes the key value crystallisation event." Cave Sidero is, with planning consent, worth a multiple of the share price. But Greek Fastrack seems a bit...slow. No-one will believe in this until final sign off is achieved. The signs look good but that should just been seen as a big bonus. On the basis of Travel & Leisure alone Minoan shares have the potential to hit 10p – that is a growth stock on a growth rating. But as a bonus news from Greece would be a game changer and the word is that we could be hearing something by Christmas. Given that it is Greece we are not holding our breath but you never know. If that happens 10p would be just for starts – this could be a three bagger within months. Buy at 6p – initial target 10p. Ends What has changed? 1. We gather that another T&L acquisition on a lowly multiple is on the way before Christmas,. That will give investors more confidence in our forecasts, and more faith that this is now a profitable company that can generate cash. 2. The Greek Press is reporting that Minoan's Fast Track application for planning consent at Cave Sidero has been accepted and that this will be formally announced in a Greek Government "gazette" next week. If that is the case we could/should get planning consent not long after Christmas. And that is a game change. CS with planning consent is worth a multiple of the current share price. And T&L on its own is worth 10p per share. Risk weighting CS for Greece and all the other horrors that have been such an issue for so long we set a new initial target price of 12.5p but that is a very, very heavy risk weighting on CS. If consent is won this share price could start with a 2 by Easter very easily. The Trade: Buy at 8.625p and at up to 9p with an initial target of 12.5p.
scotty1: 3rd October 2011 Analyst: Steven Moore Email: Tel: 0207 562 3370 Minoan Group* - Proposed Acquisition & Fundraising. Re-commencement of trading on AIM. Reiterate Speculative Buy. Target Price 19p Key Data EPIC MIN Share Price 12.125p Spread 11.625p - 12.625p Total no of Shares 93.688 million Market Cap £11.4 million 12 Month Range 8.375p - 18.125p Market AIM Website Sector Travel & Leisure Contact Christopher Egleton (Chairman) - 020 8253 4305 Shares in Minoan Group are today restored to trading on AIM, with the company having published an admission document giving details of the proposed acquisition of John Semple Travel Ltd and a fundraising, as well as notifying of a General Meeting on 17th October for shareholder approval of these transactions. We see the moves as further positives in the company's execution of its travel and leisure strategy and have a current target price of 19p - which we would not be surprised to be increasing in future months. Our stance is speculative buy. Minoan announced on 12th September that it had reached an agreement to acquire Semple, an online and retail travel agent based in Scotland. The company sees the acquisition as substantially completing a first regional (Scotland) 'cluster' of distribution-led travel and leisure businesses in the UK - the move coming after the acquisition of King World Travel (in March), agreements to become exclusive franchisee of Cruise118 within the Scottish travel market (April) and UK General Sales Agent for Sunwing Travel's UK-Canada flying programme (May), the acquisition of a 19.9% interest in Stewart Travel Centre and the signing a management agreement for its operation (in May). Travel & Leisure Activity and Strategy Minoan has agreed to pay £1.4 million in cash and £600,000 in shares for Semple. The shares are to be issued at the average mid-market closing price over the five dealing days prior to the date of completion, subject to a minimum price of 11p per share and a maximum price of 16p per share. The business has one retail outlet, a cruise call centre, a golf and ski call centre and an online operation. Its net tangible assets as at 31st March 2011 were £64,000 and for the year ended 31st March 2011 it reported a pre-tax profit of £237,000 on a total transaction value of £17.5 million and sales of £1.3 million. However, adjusted for exceptional costs, the normalised profit is believed to be £324,000 and Minoan is confident of adding to this through economies of scale and synergies such as the linking of brands operated by Semple with Cruise118 and Sunwing. Prior to Semple, in March, King World - a retail travel agent with 6 outlets in west and central Scotland - was acquired for £410,000 in cash and shares and would have contributed an underlying net profit in excess of £100,000 for the year ended 31st October 2010. A couple of months later the acquisition of a 19.9% interest in, and management agreement entitling Minoan to up to 90% of the net profits generated under the agreement by, Stewart Travel Centre was agreed for £278,100 in Minoan shares. Stewart - comprising 3 retail outlets, a cruise call centre, an affinity travel call centre and a business travel operation - had a net trading profit (before non-recurring items) of £200,000 in the year to 30th April 2011. Alone, the combined historic performance of Semple, King World and Stewart would, we estimate, more than cover Minoan's current annualised central costs and this is before taking into account. Partnership Agreements The 'buy and build' strategy has been supplemented with partnership agreements with Cruise118 and Sunwing Travel. These initial three year agreements respectively are seen to facilitate the company taking a strong position in the attractive Scottish cruise market and UK - Canada flight market. They are synergistic with Minoan's acquisitions - as well as the noted with Semple, the company stated in announcing the Stewart deal, for instance, "the management agreement will allow us to assist Stewart, initially via our Cruise118 agreement" . We anticipate the Sunwing agreement yielding a £400,000 pre-tax profit to Minoan in its first full-year, with Cruise118 delivering £170,000. Further partnership agreements are targeted to follow - with the company looking in excellent stead in this regard as a result of the sector experience and resultant credibility of, and contacts within, its management team. Managing Director, Duncan Wilson, for example, has more than 25 years of sector experience, including as a previous main board director of My Travel plc, formerly known as Airtours, a £3 billion turnover company. Efficiencies & Other Synergies The experience of Minoan's management, their 'clustering' buying approach creating critical mass and small, independent businesses tending to be run in a habitual, unquestioning way (Minoan noting, for example, such businesses tend not to exploit their customer databases via intelligent marketing), mean we believe significant benefits will be extracted compared to how the businesses operated individually. Further Acquisitions Minoan is now targeting a second cluster in the North West of England, and a third anticipated to be in the Midlands. Again, as businesses in these areas are brought under one control, a critical mass of regional customers can be developed, the cost base required to service these customers streamlined and synergies attained. While currently prevailing economic conditions represent a threat to customer demand within the industry, the smaller, regional independent travel agents Minoan is looking to combine tend to have a loyal customer base built up over many years - while this is unlikely to provide complete shelter from chill economic winds, it should offer a degree of insulation. Additionally, it is such economic conditions which are creating opportunity to acquire at attractive valuations - for an underlying c.£600,000 of historic pre-tax profit (from King World, Stewart and Semple), Minoan will have paid £2.69 million - a lowly multiple in itself and less still as efficiencies and synergies are delivered. The company is confident in its ability to buy on similar parameters going forward and there will be the additional benefit of the material cash flows then being generated enabling it to choose the most efficient from a greater range of financing options. Forecasts With execution of the travel & leisure strategy only really taking off in recent months, the P&L for the 13 months (due to a change of accounting reference date) to 31st October 2011 will not be particularly pertinent. The real excitement starts in the company's financial year which commences in a month's time. We have a pre- and post tax (there are significant historic losses the company can utilise for tax purposes) profit of £1.2 million from the travel businesses pencilled in - which less central costs suggests an overall profit of around £700,000. However, with a multitude of efficiencies and synergies looking extractable and Minoan's clear intention to agree further acquisitions and partnership agreements we consider our numbers conservative. In conjunction with its proposed latest acquisition, Minoan is to raise £290,000 via a placing at 10p per share and £1.375 million via loans repayable in shares. The funds will be deployed largely to satisfy the cash element of the Semple acquisition. At its last (31st March 2011) balance sheet date Minoan had cash of £1.09 million, though (current) liabilities of £4.33 million. Since then more than £900,000 of shares (at 15p each) have been issued to satisfy commitments and a placing and exercise of warrants has brought in £475,000. Also, as of 31st March 2011 Semple had cash of £1.42 million, though net current liabilities of £259,000. Given its current position, Minoan believes it will have sufficient working capital to be going on with and this position should then be being bolstered by the material cash flows its operating businesses should be throwing off going forward. Evaluation & Conclusion For the company's year commencing next month our numbers suggest the business as it is now (including the Semple acquisition) should be able to produce positive earnings per share in excess of 0.60p - this taking into account the maximum potential number of consideration shares issuable to Semple and the shares to be issued as per Minoan's announced loan arrangements. A multiple of 12 times this would thus represent 7.2p per Minoan share. There is then Minoan's prospective luxury resort project in Crete. This has been long bogged down in Greek bureaucracy but the country's dire economic position is seeing various new policies implemented to facilitate investment projects. The approvals process for Minoan looks to have been considerably simplified by the introduction of the 'Fast Track' law. This enables government agencies to expedite investment permissions and the company is currently in discussions with the government agency ('Invest in Greece') which handles fast track investment applications. Independent surveyor, CB Richard Ellis - Axies, has stated in a letter of opinion that, with full consent, the value of Minoan's project interest (deduction of anticipated total construction cost from anticipated revenues) is likely to be in the order of €100 million. As per our previous note on Minoan, we discount this heavily to £13 million to reflect the Greek government's history of procrastination and that approval still needs to be gained - but even this represents 11.2p per share (including the maximum potential number of consideration shares issuable to Semple and the shares to be issued as per Minoan's announced loan arrangements). There are clearly evident risks with an investment in Minoan at this juncture. As well as those in relation to the Crete project, the company's emerging travel & leisure business faces a currently challenging economic climate and clear competition from other tour operators and travel agents, including those such as TUI and Thomas Cook which are large and well-established, as well as from internet-based distributors and low fare airlines. However, the companies in the sector with a heavy high street presence are operating in what seems an increasingly outmoded fashion involving high infrastructure costs and heavy asset investment, whilst others tend to require high cost per customer marketing investment to acquire demand. In contrast, the smaller, regional independent travel agents Minoan is looking to combine tend to be asset-light and benefit from loyal customer bases built up over many years. Indeed, with a multitude of efficiencies and synergies looking extractable and Minoan's clear intention to agree further acquisitions and partnership agreements having already demonstrated its ability to buy profitable target businesses at attractive valuations in relation to historic profitability, we consider the upside risks here the greater. We are thus happy with a current 19p target price and would not be surprised to be increasing our forecasts and, resultantly, target price in future months as the company continues to execute its strategy. Any positive news on the approval process in Greece would likely prove a particular share price catalyst, though even continued delay there should not prove too detrimental given the company's clear momentum elsewhere. Our stance remains speculative buy.
Minoan share price data is direct from the London Stock Exchange
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