Minoan Share Discussion Threads

[wi1l] 29/7/2018 21:14

What type of information do you think they are holding back from the market?

[pj 1] 29/7/2018 20:20

Whatever the case in question may be, I am convinced MIN are withholding information from the Market, and hiding behind the 'Greece forever syndrome'. We are governed by UK regulations though, not Greek.

[wi1l] 29/7/2018 20:11

It was just a thought PJ, as it also occurred to me (from the wording of the last RNS) that the delay might not have just been the purchaser. The RNS said something along the lines that the bod would be ready to exchange contracts in a couple of weeks which suggested that they were being just as slow (to be expected!).

[pj 1] 29/7/2018 20:03

Bizarre. Most Company's wanting to buy another Company want to complete as quickly as possible as they see synergies and opportunity above those of the Vendor, and want to complete before the seller realises the same and has second thoughts.


Obviously not in the case with Minoan.


Wil, assuming the Purchaser has funding in place, why would they delay?

[wi1l] 29/7/2018 19:53

There must be very good reason for the bod bearing with such a long delay if indeed it is the purchaser who has been delaying the process. Maybe the purchaser and the party looking to buy a significant interest in the CS development are one and the same?? Now then, it has been touched on before and is a slightly more positive thought, would be quite an announcement with the interims IMHO FWIW!

[pj 1] 29/7/2018 19:21

Other HSR 'open' tips include, OBT, FLX,WSBN,UJO,SLE,REAT,KEFI,CPT,BST, some of which have been held for years (YES YEARS).


Note all are still held as open positions. I suggest anyone notes the charts of all those Company's and compares to the MIN chart and pays attention to the common visual denominator. Answers on a post card please. Beware of any Shareprophets tips imo

[scotty1] 29/7/2018 19:12

Atlantic the article tells us nothing we don't know,infact I believe we have a better idea of what's occuring Than NS,probably he's hoping to get out with a quick profit with his trade buy,think he'll need more than his fingers crossed with this one,will be glad to see RNS Tuesday and see what excuses they have this time around.

[atlantic57] 29/7/2018 17:39

The Headline is Big News this week?
Wow

I would like to write articles for
Shareprophets...

[jamdan1] 29/7/2018 13:49

Scotty..are you able to cut and paste the article please

[colinzeal] 29/7/2018 12:48

Fingers crossed!

[scotty1] 29/7/2018 12:18

Colin he basically saying he expects news this week which we all expect on here anyways,he also says he bought a few extra for a short term trade,he thinks all news will be delivered together,cannot see that myself,we will see, Tuesday RNS for me.

[colinzeal] 29/7/2018 12:00

Updated article on ShareProphets now.

[atlantic57] 28/7/2018 18:18

I have had many discussions with Scotty
Over the years .Sometimes we agree to disagree.

On this occasion I agree 100% with his post.

Until the board formerly communicate
We are all in the dark.

[scotty1] 28/7/2018 14:42

Verisonal that's all assuming the sale completes within the next few days with the current buyer,if not have they got someone else lined up?if they have how long to complete then?will the new loan provider buy the travel?if not will they extend as Hillside has done?I have asked the question (3 times to my reckoning),do you still believe you will complete and pay loan back before due date as per your last RNS.They have either not given me a straight answer or not replied,I don't think giving me a straight yes would be classed as insider info as that is what they implied in the RNS,now answering me with a no I suppose would be classed as insider info as it would differ from what they implied in the RNS.Personally I fear a deal with the current buyer will not be struck as if they had any intention it should have completed a long time ago,perhaps the buyer as led the BoD on knowing they needed finalization as quickly as possible with the loan thus to get a better deal.Also imo the BoDs should have walked away from this deal ages ago and gone elswhere,all very bad management and just makes me wonder what's going to happen with the CS deals.My guess is we will see a RNS before month end telling us one way or another what the 'ell is going on.

[verisonal] 28/7/2018 13:59

Just to clarify what I mooted earlier. Thanks to PJ. As expected it is 14 days. Of course from exchange of contracts to completion does have other stages but in this case I'm sure they'll find a way in 14 days!

PJ 14 Jul '18 - 14:19 - 10839 of 11167
0 0 1
''Notice of general meetings (sec307 - sec310)
The minimum full period of notice for all meetings is 14 days, even if a special resolution is to be proposed, except for the AGM of a PLC, which is 21 days. The company's articles may require a longer period. Note that the 'clear day rule' is found in sec360.
A meeting can, however, be held on short notice, if so agreed by a majority of the members who hold at least 90% of the voting rights in a private company (or 95% in a PLC). The articles of a private company may specify any percentage between 90% and 95%.
Notice must be sent to every member, every director and anyone notified to the company as being entitled to a share on the death or bankruptcy of a member (subject to the articles)''

hxxps://www.companylawclub.co.uk/calling-general-meetings

[atlantic57] 28/7/2018 13:26

If the Minoan board are in the hands of
Hillside at the end of August then anything is possible .

Bankruptcy is an extreme option but
Further dilution of private investors is not.

As I say all will be revealed shortly
I am personally neither or buyer or seller
On the basis of information in the public
Domain.

[verisonal] 28/7/2018 12:54

If that happened though Colin, can you imagine the market reaction to the news that the sale was off, after all this time! Eek!

I don't necessarily agree that Hillside would bankrupt Minoan, Atlantic, as the company has an asset they could sale or trade part of to Hillside in return for staying in existence. But it would be a heavy price, perhaps even a majority stake in CS to Hillside.

All that said I still think this absurd process on the T+L will complete. Interesting that the reply to Scotty said 14 days to the meeting, I always had in my mind I read somewhere it was 21. Normally I would say that's only a technicality, but with the clock ticking it isn't. I'm sure CE knows though and that I must be wrong

[jamdan1] 28/7/2018 12:41

Do you really think that is a possibility Atlantic?

[atlantic57] 28/7/2018 12:19

Colin that is an interesting speculation which of course if accurate would of course
Be an excellent strategy.

Unfortunately the opposite is that the sale fails and Hillside call in their loan thus
Bankrupting Minoan.

Time will tell

[wi1l] 28/7/2018 11:44

You could be right Colin. It provides working capital for the group and appears to be going from strength to strength. Only reason for selling appears to be to pay off of the loan to Hillside. And it allows a free run at the CS development with investors presumably less cautious about investing in the project.

[colinzeal] 28/7/2018 11:26

"...the fact they allowed a third party an exclusive contract with what appears to be up to 9 months to complete is frankly astonishing". Nail. Head. I may be well wide of the mark but it seems to me as they are simply playing for time to secure some CS inward investment which would then allow them to pull the sale of the T&L business...I'm not wholly convinced that they want to let it go.

[wi1l] 28/7/2018 10:31

Bod are not good at communicating to us atlantic but will do so when it suits their needs and in the meantime all one can do is wait for the RNS / interims with the update.

[atlantic57] 28/7/2018 08:59

wi In the next 14 days the board must update shareholders :

Forget the language of the glass being half full or half empty and the endless speculation on this bb over what is happening .


We will judge the bod by what they deliver and whether private shareholders get any benefit.


The record to date is that private investors have been decimated...

The recent past speaks for itself.


Placings and loans are a sideshow...


Can they sell a business ?

Can they get anyone to put some money down fro Crete.

To date the answer has been no to both questions and the fact they allowed a third party an exclusive contract with what appears to be up to 9 months to complete is frankly astonishing.

[wi1l] 28/7/2018 08:34

Stewart travel has been showing that it is profitable and therefore makes a valuable contribution to cash flows/working capital that Loyalward needs. Thought the bod were looking to borrow for the gap period rather than more placings?

[colinzeal] 27/7/2018 19:55

Let's hope so! I truly want them to prove me wrong and eat some humble pie!