Minoan Share Discussion Threads

[pj 1] 01/8/2018 18:32

It seems blatantly obvious to me that the T&L sale has fallen through, hence little mention of it in HY, when it had previously had time scales put against it in previous RNS.
Confirmed imo by their refusal to answer scottys questions, so obviously something has changed or they would have just confirmed it without a second thought.

Shareholders seem quite content to accept the apathy though.

[waterloo01] 01/8/2018 18:32

Apart from the now obvious problem the initial buyer has in completing, if the total is short of the £7m (likely as stated by the BOD) then they also need to raise funds (£1m-£3m?) to be able to pay off the loan at the same time, as such they need something positive re Crete to be able to get that away.

One suspects major holders are now insiders to the raising. They need three things to happen at the same time. If they can't agree a deal re T&L then it's potentially curtains, remarkable as that seems, but the loan being moved in status to on demand has tied their hands IMO.

[atlantic57] 01/8/2018 17:03

Listen folks does not it strike you as odd
That we are apparently sitting on an asset
That is worth a multiple of the share price, yet we are touching new lows.

Clearly the market does not view this
With the same confidence that some on here
Do.

[colinzeal] 01/8/2018 15:48

Market pricing in their confidence in the BoD. Still it goes on...

[waterloo01] 01/8/2018 15:30

And into the 4's despite the serous pump/dump on twitter.

[optrade] 01/8/2018 09:57

that will be me then it was not aimed at you justjill.

[justjill] 01/8/2018 09:28

Thanks for the link Optrade. Think you'll actually find a few, longer term, shareholders on here than you. We're just so frustrated about BoD's ability to get their fingers out and their upfront presentation of actual situation.

However, most on here believe the company share price should be multiples higher than it is if Crete was full factored in....the BoD's credibility is the biggest drag on the share price Thankfully it appears some will be gone soon and new faces will be around the table, and hopefully with a better skill base.

What we need now is some enthusiastic buyers...for what is a huge opportunity.

[optrade] 01/8/2018 09:13

shareholders lol none on here all shorters nice right up today in the Herald boom time soon

[hugothesecond] 01/8/2018 09:10

interesting to see that both phone numbers for DW and WC are no longer included on the RNS - only emails for them plus CE. Obviously don't want to talk with anyone !

[waterloo01] 01/8/2018 08:54

Unfortunately I suspect it's been left too late to call an EGM to either remove CE or appoint an independent NED as unless they pull a rabbit out the hat, I expect that the loan will be called in shortly and administration will follow.

If that happens the Crete project will revert back to the church. What's the bet that within months the project will actually start, but not to MIN shareholders benefit.

Does Christopher or Bill care? Well probably yes as they wanted to retire in glory not abject failure (although the salaries they have accrued will be some comfort).

[colinzeal] 31/7/2018 19:58

My feelings on the Board have been made clear many times over the last year or so. I agree with what you're saying wholeheartedly. I'm just hoping for a spike upwards soon so I can close out and forget all about the opportunity cost I've wasted over the last couple of years. That hope alone is keeping me going!

[pj 1] 31/7/2018 19:37

The worst that can happen is that we find the whole damn thing is a fraud....

[pj 1] 31/7/2018 19:36

Come on Mr Dvorkin, what have you to lose? Im willing to take advice how to proceed....

[waterloo01] 31/7/2018 19:33

As directors can't vote on such issues it wouldn't take much. Mr Dvorkin up for ?

Edit: Colin, they have not delivered and are about to raise more cash at rock bottom prices and huge dilution with the promise of next year it will come together. You really willing to submit to that, especially as directors have little skin in the game and continue to draw huge salaries?

[colinzeal] 31/7/2018 19:27

I feel your pain but I'm going to remain positive for the next couple of weeks. We'll see if they can pull it off!

[pj 1] 31/7/2018 19:27

Why not do it? Who's up for calling a GM, we need 5%, one major shareholder does it...…

[waterloo01] 31/7/2018 19:09

Regardless at this point I don't trust management to deliver the value on Crete. Startling to think the whole thing is about them getting rich and retiring. It's at times like this that I just wish shareholders had the guts to get rid of them and replace with decent, honest managers who are capable not culpable.

Absolute shower, the lot of them.

[pj 1] 31/7/2018 18:53

Never in a million years does ''substantially debt free'' = cash rich. What a ludicrous statement to say it does.

What they are saying is that most of the debt will be paid off. But how much? They need to leave enough cash to take their remuneration, plus some working capital, so other funding must be being looked at imo

[kmann] 31/7/2018 18:22

its a copy and paste going concern statement.

"The Board continues to examine the cost structure of the Group in order to keep costs to a minimum during the period subsequent to the sale of T&L and until realisation of the Project. The Board intends that this period will be kept to a minimum."

An announcement within days imo.

[verisonal] 31/7/2018 18:01

How does that one work? -:) Have you found a money tree KMann? If so please do not tell the Mail on Sunday, share it with us instead! -:)

From interims; "...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."

[kmann] 31/7/2018 17:32

All the dominoes are lining up, bit like a record breakers attempt, ready for Egleton to trip over and set it all off.

The shareprofits mob do this share no favours imo. shouldn't have built this up as D-Day today. He probably bought more!

All your talk of placing seems like BS "The directors believe that following the sale of Travel and Leisure the Group will be substantially debt free."

i READ THAT AS CASH RICH

Time to inform the the mail on sunday, especially after todays results.

[scotty1] 31/7/2018 16:39

Basically with no staff to pay when travel gone they'll need to raise cash to support their own wages 😂

[justjill] 31/7/2018 16:39

Nigel S. Must have dome some of his as he warned earlier....and also a few stops hit maybe?

EArlier in his piece Nigel S said: "....Meanwhile my small parcel of extra shares from last week is waiting to be sold – when I can get a good quote (I hope later today) as I warned at the weekend.." can see any mention of that on the Sunday post...

Maybe tomorrow will be better.