Minoan Share Discussion Threads

[scotty1] 18/7/2018 12:15

Colin a good few on here have the same views as you know,why the sudden drop,who knows,could be a mm ploy to get sellers to fill a buy order bwtfdik,but I reckon the time is nigh,tick tock 😉

[colinzeal] 18/7/2018 12:08

Didn't last long, did it? I only have a small position here but I just want out. Been a complete waste of time and energy investing in this shower. Over a year now and not one decent piece of news on CS.

[hugothesecond] 18/7/2018 10:19

All buys this morning - interesting that you can actually now sell at a slightly higher price than to buy at present - 6p

[pj 1] 18/7/2018 08:56

pmsl. I take it that £60 trade didn't move the share price 1.7%

[scotty1] 18/7/2018 08:30

Short term chartwise it looks like a break up is coming with higher highs and higher lows in place,any news and that's a definite 😉

[scotty1] 18/7/2018 08:27

Opened up this morn, possibly a buy to show,anyone with online limits as it seems its hard to buy any quantity.

[wi1l] 18/7/2018 08:27

Good start to the day - mm's looking to buy, no takers so far, all holding on.

[wi1l] 17/7/2018 15:09

Yes Scotty, looking forward to the cogs (/old codgers) of Minoan working a little, sorry ALOT faster! Very understandable that any interested party in the CS project would wait until the dust settles on the T&L sale. The BoD haven't referred to the party interested in buying into the project since the first time that it was declared but as with the T&L sale it must therefore be an ongoing discussion because we haven't been told otherwise - yet!

[justjill] 17/7/2018 13:28

Need to be careful there Scotty or ye'll be on your own zimmer frame out of this BB! :)

[pj 1] 17/7/2018 11:31

Well...

I have made a Pledge to TW's Woodlarks charity challenge to make an additional x10 contribution to what I already have IF MIN RNS spikes the share price on the sale of T&L and any positive developments/update regarding Crete

So they have until the 27th July / 10 days

Over to you MIN

[scotty1] 17/7/2018 11:17

Justjill I suppose we could put wheels on the BoDs Zimmer frames it should help them move a little faster whilst we wait for new faces to the board 😀

[justjill] 17/7/2018 11:05

Well TWO weeks after they announced it would be a "few weeks" I am disappointed they haven't actually announced the intended DATE. Especially given the end date for the loan is now almost set in stone - end of August (With funds of sale already transferred to our bank account)

Also, given they need to provide several weeks notice of the general meeting for shareholder approval - right in the middle of the summer holidays - I'd have thought that would have been another prompt for info and curtsey.

I don't believe there is anything wrong at all, just usual disregard from hapless BoD. I'd like to wish some of them all the best as they leave...and that can't be too soon for me. (Maybe they are still arguing about who is going to get pushed of the gravy train?)

[scotty1] 17/7/2018 10:15

Wi I suspect they expect completion before end of July giving ample time to tidy loan up before end of August,I also suspect negotiations with partner/s are going forwards in the background but they are not going to commit until completion of sale.Once that happens I expect news on CS very soon afterwards and as previously commented on new faces on the board which will get things moving at a lot faster rate than ever been known before in MIN 😉

[wi1l] 17/7/2018 09:36

How long is a few weeks? To my mind that is 2 weeks and therefore they should now have minoaned themselves into a position ready to exchange. Judging by the buying effort today there's a little longer to go but the long wait should surely soon be over...……;…….

[scotty1] 16/7/2018 17:24

hxxps://www.shareprophets.com/views/37183/minoan-loan-facility-extension-as-expected-real-action-imminent-yes


Minoan – loan facility extension as expected, real action imminent? YES!
By HotStockRockets | Monday 16 July 2018

Updating on Minoan Group (MIN) previously, we noted a loan from Hillside doesn’t seem a problem, with the company in constructive discussions to further extend to reflect the expectation of a successful sale of its Travel business in the near future. Now a “Loan Facility Extension” announcement…

This is that the facility has been extended “to allow time for the sale of its travel business to be completed”. There is now a long stop date of 31st August, with the interest rate remaining the same and 1,765,733 warrants to be issued exercisable at 6p per share.

As previously noted, we expect the Travel sale proceeds to clear the loan and leave some cash left over to pay the bills until some monetisation of the company’s Cavo Sidero leisure project in Crete – an asset clearly worth a multiple of a current circa £13 million market cap here.

The company has been talking of being in a position to exchange Travel sale contracts “in the next few weeks”, having previously updated that “in Greece, discussions with prospective partners are continuing”. Thus, with these potential catalysts – and the shares currently sub 6p, the stance remains buy.

[scotty1] 16/7/2018 07:36

Atlantic imo once the sale is out of the way which is going to happen within weeks if not sooner,a partner or partners for the CS project (because there's more than one interested party)will be soon be on board,they in turn will want their own guys on the BoDs (who will get things moving as they will not be wanting to let the grass grow under their feet)certain original directors will be stepping down and Minoan will become a different animal and the current share price will be a thing of the past 😉

[atlantic57] 15/7/2018 08:09

Scotty I agree wholeheartedly with your post.
Let us play out the glass half full story.Travel sale followed by cs announcement.

As you rightly say once things are announced it will be to late to climb aboard.

[wi1l] 14/7/2018 21:07

The terms of this loan aren't too onerous compared to what they already had, the interest rate is the same at 10% and not a vaste amount of warrants issued and at 6p rather than a discount to the current share price. They appear to have always dealt with the loan from Hillside correctly and the T&L business is profitable and therefore if it isn't sold presumably the loan "on demand" bit can be renegotiated - they have probably already looked into this already ie plan B if A the sale doesn't happen (but I hope it does).

[waterloo01] 14/7/2018 11:48

I note a couple of changes re the loan. It's now held by Zackery and is 'on demand' which means that at anytime they can demand their £6m+. I also note they said that the loan would be paid off by the sale of travel, not partly paid but paid off (not surprising seeing Stewart Travel et al made an £8m profit on £80m turnover) however the 'on demand' bit does mean if they don't complete, they will either have to raise or loose the assets of the company.

They really need to announce the deal in the next few working days

[scotty1] 14/7/2018 10:35

I agree with the above posts,but from a investing/trading view it's no use sitting on the sidelines waiting for it to happen (unless you are looking at a longer term investment and are willing to pay higher knowing it's more risk free)as when it does you'll miss a very quick rerate,imo it's not a matter of if it happens it's just a matter of when it happens,and that is surely going to be in the next week or so on the Travel side at least,I also believe we have more than 1 interested party for the CS project as does TW in his latest update, I'm also pretty sure talks with these parties will be going on in the background but said parties will not commit until sale of Travel is completed and out of the way,things are about to get a little exciting in the coming weeks I reckon 😁

I to also think after the sale certain directors will be stepping down to make way for new directors from the interested parties when the sign up for the project I mean.That alone will be another share price boost imo.

[wi1l] 14/7/2018 10:11

Probably waiting on the T&L sale before any investment comes. Agreed it will make a big difference to the share price if and when they find that interested party who hopefully is a property fund manager with deep pockets and substantial funds for the just such a project.

[atlantic57] 14/7/2018 09:55

We need a third party to put some money down and therefore monetarise the project
This establishing a value for min.

Until this happens I can’t see a huge rerating.min do everything at Minoan
Speed

[wi1l] 14/7/2018 09:48

Must have had one mm selling at 5.9 and another one buying at the same amount if that's allowed? Must be slight confusion in the ranks??

All to play for (still). Would have thought that the exchange , if its going to happen, will be some time next week with the next 3 weeks going for the shareholder vote-my vote, at this point, need to see the detail, but fwiw is probably going to be a yes to the sale - would be interested to hear of others views though.

Then the next piece of the Minoan puzzle, assuming shareholder approval, will be the loan repayment, coupled with the bod changes, I wonder who's going, there are quite a few past retirement age and will they bring in additional directors possibly from the interested party's side??

After that,raising enough funds to finance the CS development and then, finally getting the show on the road,paying the balance of the deposit to the monastary and then applying for the building permits (or have they done that already?) then starting phase 1 at Grandes Bay together with the golf course and golf complex. Moving swiftly on to hotels and apartments at White sands Bay, Crystal Cove and Porto Sidero, a mouth watering prospect, should they get to it.

Its all quiet on that front but hopefully the bod have been peddling like mad under the surface and are all prepared for this final stage. Now whats that flying over there??

[iomdm] 13/7/2018 15:27

wi1l, yes strange, my top up of just over 42k shares was at 5.9. I had to check that I bought and hadn't sold by mistake!

[wi1l] 13/7/2018 15:07

Must be either the hot weather or a mm minoan trap but you can buy 1000 at 5.9p and sell 1000 at 5.9p and as for selling not many more.