Minoan Share Discussion Threads

[optrade] 02/7/2018 08:17

RT AlignResearch "RNS noted re finally closing Travel division sale at Minoan #MIN - … Post this we expect a strong re-rating towards double figures per here - hxxp://www.alignresearch.co.uk/cpt-company/minoan-group/ …"

[knigel] 02/7/2018 08:17

Not all RNSs have to be at 7am. It was still before the market open and has been well received..

[bean02] 02/7/2018 08:17

Added. Amazed it's still here to be honest. I'm in no rush as this is now a formality

[pj 1] 02/7/2018 08:15

hmmmm


Still Weeks to exchange of contracts eh? That cannot be right or good practice.

[bean02] 02/7/2018 08:14

Excellent news. Tick tock

[justjill] 02/7/2018 08:11

Am I over-reading the end of the RNS Re the T+L sale....is expected to provide the funds to settle the Hillside facility.

(previous updates advised most of but not all I think)

[scotty1] 02/7/2018 08:09

Not done and dusted yet justjill

[justjill] 02/7/2018 08:07

so 10% today?....A lot of peeps probably don't realise, but the doors have just opened to a huge safe opportunity to buy and profit....

[scotty1] 02/7/2018 08:07

Sale of Stewart Travel Limited ("STL")

The Board expects that the Company will be in a position to exchange contracts in respect of the sale of STL in the next few weeks. Further, it understands that no issues have arisen during financial and commercial due diligence. A general meeting will be called immediately after exchange in order that shareholders can approve the transaction.


Loan Facility Extension


The Company announced on 14 December 2017 that its debt facility with Hillside International Holdings Limited ("Hillside") had been extended to 30 June 2018. The Company is in constructive discussions with Hillside with a view to further extending the facility to reflect the expectation of a successful sale of STL in the near future subject to shareholder approval, which is expected to provide the funds to settle the Hillside facility.



The Company will provide a further update on the progress of these discussions in due course

[justjill] 02/7/2018 08:06

So almost right. They are so fooooking bad at "Admin". Can't even do a 7am RNS

[jamdan1] 02/7/2018 08:04

Good update..why couldn't that have been posted at 7am?

[scotty1] 02/7/2018 08:03

Update out

[jamdan1] 02/7/2018 07:59

That's my opinion as well justjill

[justjill] 02/7/2018 07:51

Well they have always updated when loan was extended before.... The only logically conclusion is they haven't extended this time. For me the only conclusion to draw is that they seethe finishing line with T+L sale....and possibly much more.

(They would have had to do the agreement on the loan by Friday, so would have updated by open this morning...and they haven't)

[wi1l] 02/7/2018 07:25

Still no RNS - no contrary news on the sale, assume then that it is still going to happen?? Must be very close to that point.

[waterloo01] 01/7/2018 12:23

Bet we get a 7am RNS saying Hillside extended (at some cost) and Travel sale still ongoing. If they stick to form we wont get much more detail

[wi1l] 01/7/2018 12:16

And what is happening to the Hillside loan in the meantime. If that had been resolved they would have to RNS on that one too, so presumably unresolved, but that shouldn't be the case.

[atlantic57] 01/7/2018 11:15

Agreed but who is it being sold to and are they connected to MIn

[wi1l] 01/7/2018 11:07

Agreed Atlantic, quite what is going on is difficult to fathom. The group is run by individuals a number of which proudly state they either are or were chartered accountants so should be totally above board in their dealings. The sale, as we havent been told to the contrary, must still be going to happen. But when......

[atlantic57] 01/7/2018 10:57

I should add that regardless of what announcement the Company eventually make, I have
Never experienced a transaction like this.

I had a lifetime in accountancy and no deal of any size has ever stretched out for this long. Some will argue the delays are down to the purchaser.

I have never ever experienced a situation where the seller says to the buyer ,you can
Have an exclusivity deal and you can take as long as you like.

[atlantic57] 29/6/2018 17:33

Fireplace the travel agency cannot have been sold to a third party without an rns announcement.I suspect they hoped to have the travel business sold by:

Intitially the first week in may 18
Then the last week in may 18

Then the last week in June

Then ?

[waterloo01] 29/6/2018 16:11

Last year they RNS'd on the 30th, so will either be after market or Monday. Interestingly all options, including Hillsides were re-priced to 8p (previously 13p)