Minoan Share Discussion Threads

[justjill] 31/7/2018 10:00

Looking back on their previous statement about the company....“expecting to be in a position” to exchange contracts on T+L sale in a few weeks. Maybe this was very much based on what date the interims would actually be issued. And then, following official interims publication, (with all DD detail already done), both parties could agree the final fair price.....and then set date for exchange of contracts.

There's no doubt in my mind that the T+L sale is STILL ON, and at a reasonable, or (now) very good price, (based on very positive "interims" - FINALS!). The dates of exchanges to follow, etc etc.

Effectively, the T+L side is now part of the company’s history and that is why Chairman’s statement rightly has focused on the future – Crete...and the expected very quick, huge, mark-up to today's share price

The future of a company is why you buy shares in a company (…or sell if you think the future is actually negative)

[bayetya] 31/7/2018 09:58

I wish I could say I was happy with the update presented in these interims, but there are some things that bother me greatly...

Quote
it remains true that one or more of the "partners" with whom we are working is likely to make significant financial contributions. The application of those "contributions" insofar as creating the optimum value for shareholders will be foremost
Unquote

Why the use of quotes for "partners" and "contributions"? To me that reads as these are simply figments of the BODs imagination

I hope I'm "wrong" :-/

[optrade] 31/7/2018 09:23

close your short sale of stewart travel on the way enhanced price thats why the bod got these fantastic interims out first very savvy BOD

[pj 1] 31/7/2018 09:10

''Accordingly, the directors consider it relevant that having completed financial joint venture agreements prior to the above, they will conclude further Project joint venture agreements in the near term. In addition, the directors are considering other options which would have a major beneficial impact on the Group's resources.
In addition to specific Project related matters as noted above, and as has been the case in the past, the Group continues to need to raise capital in order to meet its existing finance and working capital requirements. While the directors consider that any necessary funds will be raised as required, the ability of the Company to raise these funds is, by its nature, uncertain.''

/
Considering 'other' options eh? They are after another loan, im sorry but its all pointing to the sale falling through (or it has already)?


Hence the total lack of any comments reference any specifics to the Sale

[pj 1] 31/7/2018 09:01

They have also stated the sale of T&L is holding up developments in Crete. But no reason why. Its all Bullsh*t

"As previously stated, the completion of the sale of the Travel & Leisure Division will allow me and my fellow directors to concentrate our efforts to optimise the value for shareholders of the Group's project in Crete.''

[optrade] 31/7/2018 08:50

RT AlignResearch "Second key line from Minona #MIN interims today - "it remains true that one or more of the “partners” with whom we are working is likely to make significant financial contributions." A deal looks to be closer than ever for Cretan site."

[sandcrab2] 31/7/2018 08:32

The board should have had 3 shovel ready suitors the day the PD was announced

Even more so after the 'surprise ' appeal

[scotty1] 31/7/2018 08:22

Hugo I doubt that, the sale as being going on for months,clutching at straws there.

[hugothesecond] 31/7/2018 08:18

The T/L improved performance is the reason for the delays to date - board naturally wanted to show strong increase in the numbers linked to maximising the sale proceeds.

[knigel] 31/7/2018 08:17

Maybe a holder can ask investor relations for more clarity?

[justjill] 31/7/2018 08:14

KMann - maybe a good new header for this thread: coming soooon - a clear path to multi bag heaven!

[kmann] 31/7/2018 08:08

This sale WILL go ahead, and will be highly profitable for the new owners, ie people who know how to run a business ! and today prove what a goldmine that could be.

Then its a clear path to multi bag heaven!

[justjill] 31/7/2018 08:00

Scotty wish I knew the answer to say why they can't communicate in plain clear English. But it's clear enough by the totality of the wording that it is on.

A big positive to me is that it is also clear enough that there are a number of parties wanting to become involved in CS. That's very good news.

But I'm with you all the way with the frustration.

[scotty1] 31/7/2018 07:54

Jill I admire your optimism,yep we know sale is still on as far as in they are still selling travel but will they complete in time to pay off the ever increasing loan,why not say in his statement they should finalize in next few days or at least give us something to go on if everything is still going to plan with the buyer.

[daicaprice] 31/7/2018 07:50

Should give us a small boost this morning but the main wait continues.

DC

[wi1l] 31/7/2018 07:49

Amazingly still all to play for, or so they say, without any substance (STILL) behind their words. Sale of T&L still on and now there are supposedly more parties with deep pockets looking to invest in the CS project.

[justjill] 31/7/2018 07:46

With hindsight, maybe the T+L sale was never going to be finalised ahead of these interims...maybe even influencing the final agreed sale figure. But clearly the sale is still on.

Apart from almost taking the T+L division off the books, so much of the other language in the statement makes that clear enough.

Once that is out of the way, then some of these negotiations in Greece can be completed. And clearly, and thankfully, there are multiple bidders, so the competition should be good for us in the final deal.

Always worth remembering too, although a lot of us are understandably VERY frustrated, you “buy” shares because you believe in the future, not because of what took place in the past.

The future’s bright – the sun is just taking a bit longer to rise than we’d hoped! :)

[pj 1] 31/7/2018 07:41

MIN Minoan. Still refusing to update on the T&L sale or any developments with the Crete project which we have been screaming out for. Meanwhile the old school tie syndrome continues at shareholder expense. Disgraceful. #MIN @ShareProphets

[colinzeal] 31/7/2018 07:14

I knew as soon as I read the first line; "Activity in the tourism asset market in Greece is showing a substantial increase..." that there would be nothing of major note this morning. In any case, the countdown clock is ticking by and they have to conclude the sale sooner rather than later.

[jamdan1] 31/7/2018 07:11

Sale is still on by the looks of it.

[atlantic57] 31/7/2018 07:05

The share price action yesterday has corrected predicted the rns announcement this morning.

It is another in the long line of non announcements from the Board.