Minoan Share Discussion Threads

[waterloo01] 27/10/2020 08:53

It's an interesting one. I'd completely forgotten about this, but makes a lot of sense. They certainly have the space and not only would it provide some revenue but green energy for the development itself. One of my other holdings recently announced they are going out to tender for building a solar facility. Justification is it would produce green and cheap energy and direct revenue from the operator on any 'extra' power Any onsite power could also be used to power the water salination and waste water treatment, the tech on both has developed hugely in recent years with modular systems (container sized and scalable)

[daicaprice] 27/10/2020 08:51

You’d have thought they may have got all the licenses in 10yrs, I would guess solar on all buildings a necessity but whether tidal or wind turbines would be tolerated in a place of natural beauty I’m not too sure. Water retention and recycling would be a planning must I guess. DC

[wi1l] 27/10/2020 08:44

Just more words?? Edit - just a red herring, sorry! 25.2.11 -preliminary results for the year ended 30 September 2010 Renewable Energy We remain committed to this sector but, following the restructuring of local government in Greece late in 2010 and the changes to the Renewable Energy legislation, will only take further action when we are confident that the profitability and cash generating properties of the business remain secure.

[wi1l] 27/10/2020 08:43

Following on from: Acquisition of Solar Energy Licences;Board Changes 18/11/2009 7:00am UK Regulatory (RNS & others) TIDMMIN RNS Number : 6488C Minoan Group PLC 18 November 2009 18 November 2009 Minoan Group Plc ("Minoan" or "the Company") Acquisition of Solar Energy Licences; Board Changes Minoan Group Plc, the AIM-quoted leisure resort developer, is pleased to announce that it has agreed terms to acquire licences to develop two solar energy projects in Greece. These acquisitions will represent the Company's first development of a planned expansion into the Greek solar energy sector, a market with compelling cash-generation characteristics. The overall cost of these initial projects will be in the region of Euro 800,000, and it is envisaged that funding for this development will be provided from a mixture of equity and debt. The Company also announces that it is in substantive discussions regarding a number of potential additional transactions both in Minoan's core leisure business and in its newly established solar energy operations. It expects to be in a position to notify the market of further progress on these potential transactions in due course. As a necessary prelude to these developments, the Company also announces today that it is embarking on a restructuring of its executive management team, beginning with the appointment of Duncan Wilson as Managing Director. Duncan has been a Non Executive Director of Minoan since 2006 and is an internationally recognised figure in the global travel and leisure marketplace. Acquisition Details The licence acquisitions are in line with Minoan's previously stated strategy of developing its activities in Greece and exploring opportunities to add new, compatible operations to support its Cavo Sidero Project. The opportunity to develop a meaningful presence in one of Europe's most exciting renewable energy markets has come about as a direct result of Minoan's extensive experience and contact base in Greece. The solar projects will provide recurring cashflow for Minoan as well as further strengthening the Company's environmental credentials. In due course, these two licences will each produce just under 100 kilowatts of power and represent the first step in a series of planned acquisitions. The licences will be held in a subsidiary. The solar energy business in Greece produces a stable overall return and cashflow through contracts with the Greek National Grid on 20-year index linked supply contracts. Minoan envisages that this business could grow substantially by the acquisition of further licences. Minoan is also currently examining a number of opportunities in the travel and leisure business in both the UK and Europe. The nature of the businesses being investigated means that they will provide strong cashflows and profit growth. It is Minoan's intention that such businesses will be acquired through separate subsidiaries with other partners so as not to dilute the underlying value of the Cavo Sidero Project for existing shareholders. rom:

[wi1l] 27/10/2020 08:36

What happened to: Solar Energy Licences 14/07/2010 7:00am UK Regulatory (RNS & others) TIDMMIN RNS Number : 2875P Minoan Group PLC 14 July 2010 14 July 2010 MINOAN GROUP PLC ("Minoan" or "the Company") Solar Energy Licences Minoan Group Plc is pleased to announce that following its review of the recently enacted new legislation for all renewable energy projects in Greece, the Company is to recommence its programme of acquiring, or applying for, solar energy licences. Discussions regarding applications for additional licences and with providers of debt finance are ongoing with a view to further enhancing returns. The Company remains firmly focused on meeting the twin targets of achieving carbon neutrality for the Cavo Sidero Project and creating additional, compatible businesses which will provide the net income to cover all Minoan's existing operating costs. The proposed structure will maintain the underlying value of the Cavo Sidero Project for shareholders. Minoan Chairman, Christopher Egleton commented: "As reported in my Chairman's Statement of 18 June 2010, it was necessary to carry out a detailed review of the recently enacted new legislation for all renewable energy projects in order to confirm the continued profitability and cash generating properties of the Company's proposed solar energy business. Following the positive outcome of this review, the Company has decided to progress its expansion into the solar energy sector. The income generated will underpin our development plans. The potential to add further solar licences combined with the opportunities we are currently exploring within the tourism and leisure sector provide scope for significant income generation and growth. I look forward to further updating the market with developments in the coming months."

[wi1l] 27/10/2020 07:34

Could this be Plan B? Am I correct in saying there is ten sq miles of land of which only 1% used for the project. What do they do with other 99%?? Greek plans to go lignite-free draw strong investor interest; Green shares jump https://www.businessdaily.gr/english-edition/28973_greek-plans-go-lignite-free-draw-strong-investor-interest-green-shares-jump Investor interest in green energy in Greece is growing fast as stocks in companies focusing on RES outperform markets in Athens and Europe, despite problems brought on by the pandemic. The government's decision to close lignite plants by 2028 has been a game changer for foreign funds, such as Blackrock, who are investing in Greece, in view of a specific plan being implemented that leads to a new sustainable energy system.

[daicaprice] 27/10/2020 07:29

Shame it wasn’t “another asset in the same destination” DC

[wi1l] 26/10/2020 16:35

TUI’s Plans Include Opening More Hotels in Greece https://news.gtp.gr/2020/10/26/tuis-plans-include-opening-more-hotels-in-greece/ Speaking during the Prodexpo 2020 virtual real estate event, TUI Hotels & Resorts Head of Project Scouting Dieter Kornek said that prior to Covid-19, TUI was in fact discussing and negotiating new projects. “We opened this year one hotel in Greece – the Club Robinson on Crete – and were discussing other assets on other destinations, but due to the pandemic we put all these projects on hold and hope that with the recovery next year we can also grow but through an asset-light strategy,” Kornek said. “I hope that next year we can at least sign some of these projects,” he added and referred to the possibility of TUI adding another two or three new openings in the Greek market in 2022.

[atlantic57] 26/10/2020 14:15

Given Minoan only work at one speed ,which If we seriously expect to be starting 2021 with nothing announced by way of rns then it is difficult to envisage circumstances where Gilbert can deliver a signed and sealed deal in the time that remains before the loan must be repaid. As an accountant with practical experience of being involved in deals nothing in my practical experience comes close to the Min Saga of ‘We are in talks “ which are never followed up with any announcements.

[wi1l] 25/10/2020 14:23

An interesting read: Destinology sold to Stewart Travel parent Brooklyn Travel Holdings https://www.travelweekly.co.uk/articles/389988/destinology-sold-to-stewart-travel-parent-brooklyn-travel-holdings Stewart Travel owner Brooklyn Travel Holdings has acquired online luxury tour operator Destinology from Saga for an undisclosed sum. Actions speak louder than words. That's the third deal in two years by Wilson, Cassidy and Green since they left Minoan Group. Men of action obviously. We seem to have been left with those who just seem very capable of fine words! But I hope they prove that they can do the odd deal or two as well.

[atlantic57] 24/10/2020 08:36

1. DAGG will effectively acquire the Existing Loan, amounting to circa £1.136m at today’s date, from the existing lender (“Zachary̶1;); 2. the existing security and current interest rate of 10% per annum will remain in place and the Existing Loan will be extended to 31 July 2021; So we will have to have an update by then.

[wi1l] 24/10/2020 07:20

Apart from more words from the interim accounts: Outlook "As Covid restrictions begin to relax, we look forward to updating shareholders in the coming period as we progress discussions with partners and prospective partners toward beneficial conclusions". Christopher W Egleton Chairman 17 August 2020

[wi1l] 24/10/2020 07:03

Very acceptable DC! More words from the annual accounts: Outlook "With the impending easing of Lockdown restrictions I expect to provide further updates in the next few months as all our efforts are focused on ensuring that the Group and its stakeholders reap the benefit of the years of hard work that have gone before." Christopher W Egleton Chairman 14 May 2020 All very well and what everyone wants to hear but we are nearly into November and unless I am mistaken not one update........................silence!

[daicaprice] 23/10/2020 17:11

Sorry wi1l, you are a very close 3rd though mate. DC

[daicaprice] 23/10/2020 17:08

Nice to see my 2 favourite posters with whatever opinions, it feels like a lifetime but some old religious geezers should be close to a final croak by now. The economy, employment, infrastructure and diminishing religious hold in a newer generation will start to make their voices heard. I hope. DC

[wi1l] 23/10/2020 17:00

Its just words atlantic and we all know actions always speak louder than words. And when it comes to age the current BoD must be running away with that one accolade. Probably all very capable in their prime but old age takes its toll on one's ability so unfortunately now they seem to be just left with words. The opportunity is there for all to see, the conditions couldn't be better, the Minoan jigsaw virtually complete,its a great shame all we get at best from them these days is just words at worst a silence.

[atlantic57] 23/10/2020 16:08

Guess until we get news on progress it will drift up and down on any volume. If we get an rns statement signifying that tangible progress has been made ( Not rumour or opinion) then shares could spike sharply higher instantly to reflect the gap between the asset value shown in the accounts and the current market cap. However the boards consistent policy of announcing that we are in talks and then delivering zero does not help. 30/7/2013 The coming year promises to be the most significant and transformational in the Group’s history.” Share price approx. 6.2p I Really don't understand why the board the make these statements...

[waterloo01] 23/10/2020 15:35

Someone got mugged today bellow 1p. Guess until we get news on progress it will drift up and down on any volume. Annoying though.

[daicaprice] 20/10/2020 09:53

Hefty 363k buy @1.375p, didn’t have to pay a premium either. DC

[wi1l] 20/10/2020 07:42

But not any more! Is it really hand to mouth or taking the proverbial?

[wi1l] 20/10/2020 07:42

Well as a result of that massive sell you can now buy 10K max.

[wi1l] 20/10/2020 07:18

Online shutters a firmly down again for both buying (5K Max) and selling (15K Max with 3 still on the bid). Can change in an instant but didnt all of yesterday. I can understand blocking one or other but both? Any ideas??

[wi1l] 19/10/2020 07:20

FWIW the online gates are shut on both buying (virtually zilch) and selling (max 15K and yet three on the bid?). Must be a reason for this. Can only assume more of the same on Friday is being organised??

[wi1l] 18/10/2020 09:17

Something a little more positive: Greek island of Crete remains a safe destination for UK travelers https://www.tornosnews.gr/en/tourism-businesses/markets/41826-greek-island-of-crete-remains-a-safe-destination-for-uk-travelers.html The British government announced on Thursday 15/10 that it has added Crete to the list of safe destinations, a decision that means that those who arrived in Britain from the Greek island will no longer need to be quarantined.