Minoan Share Discussion Threads

[pj 1] 17/8/2018 09:21

JJ-That was a blatant lie from MIN. Why would the Broker not allow MIN to comment on certain aspects that had been commented on before in an RNS?


Secondly, we are all aware of how little DD Brokers do on RNS's, so why would they treat MIN any different? Why would they veto any RNS? Shouldn't they be encouraging communications?


For any Company to have their receptionist answer the phone with '' I'm sorry I cannot put you through as they have not turned on the Answer Machine yet'' sets alarm bells ringing. Mickey Mouse.


IMO MIN have deliberately withheld information from the Market, I have to assume that is bad news as the fiasco drags on and on where they cannot even sell a piddling Travel Business without it turning into a saga.

[atlantic57] 17/8/2018 09:13

Just Jill your comments make perfect sense to me.

Unfortunately it is looking increasingly like the Board made those statements and
Are not going to be able to deliver.

[waterloo01] 17/8/2018 08:52

I think we can discount T&L being sold before the end of the month, so the question is what will Zachary do? Probably very difficult to call in the loan as they would be left with T&L (which won't pay of the full loan). Not sure they can claim the Crete project as it's not owned by MIN but is essentially a lease with some change of control protections in it.

So either they will again extend the loan or ANO will take it on.

The hope is that at some point later in the year they will attract enough interest in Crete that someone will either buy it (or the company)but get the feeling that things are not moving particularly fast, especially as it's August and nothing much happens before the summer is over.

Assuming the company survives this period, it's jam tomorrow that keeps from selling at a large loss.

[justjill] 17/8/2018 07:57

No big announcement. So unless need for meeting not required – unlikely, given main income is from a travel business, for now, then obviously T+L sale will not pay off loan by end of Aug.

Sooo, loan will be extended in due course – really unlikely? Or they have already agreed access to other funds. Or, they have real expectation of having other funds by end of August.....now where might they come from? :)

[wi1l] 17/8/2018 07:56

All a mystery to me as well atlantic. This sale is going on forever with us all depending on the BoD to come up with the result. They operate each business under a separate ltd company Stewart travel ltd for the T&L business and Loyalward ltd for the CS development. They could, it would seem, therefore split Minoan Group in two and let them get on with each specific business as a separate identity. But with the current situation we are all in the hands of market makers dealing with the uncertainty.

[atlantic57] 17/8/2018 07:20

Ok Folks we have an asset which is worth a multiple of today's price.
25 to 30 p on information that is in the public domain.

However if the Board have to dispose of the travel business before partners will look
At the project then it remains a mystery to me how shareholders will benefit and when.

To Date the Board have issued a clear statement that the accounts show that the travel
Business has been treated as non continuing activity.

What will the next accounts show that is now a continuing activity.

[wi1l] 16/8/2018 20:29

No that's ok Scotty. Just guessing but assume it needs his signature to exchange contracts on the sale and if he's in Greece its less likely for the sale to happen in the next few days over here? (that's if it is supposed to be happening over here)

[arthur_lame_stocks] 16/8/2018 19:21

It could be that the Stock Exchange are willing to not impose the class tests on the disposal due to anomolous results. I'm not saying that's necessarily likely though, but if they do no EGM will be needed.

[scotty1] 16/8/2018 17:59

Wi CE is in Greece in Athens actually,I know that for a fact as he mailed me so.if you wish I will pm you the mail.

[wi1l] 16/8/2018 17:21

Unless of course there is movement on the CS development and the investor(s) wants to get going on that. If he or they are still around he/they have shown remarkable patience and again, he/they must still be around as we have not heard to the contrary. And hopefully interest is multiplying given the opportunity to get in whilst property values are increasing over there/tourist numbers going up & up.

[wi1l] 16/8/2018 17:13

I doubt we will hear anything unless the T&L sale exchanged but if CE is back in Greece I doubt that as well unless the deed has been done already which, needless to say,given the silence, I doubt too.

At the moment one thing I'm not doubting is that the T&L sale is still on simply because we haven't heard to the contrary. Hopefully that reasoned conviction isn't dispelled tomorrow.

[microscope] 16/8/2018 16:49

My earlier post simply based on the fact that we got an RNS on 2 July, first trading day after the earlier deadline for Hillside expired. Given that we know the new deadline will in effect be unreachable if silence tomorrow, that is why i expect something tomorrow or Monday. And still do

[colinzeal] 16/8/2018 16:01

Maybe he's off to avoid the potential fallout! ha

[justjill] 16/8/2018 15:04

Scotty if CE is really currently in El Greeko, like as of today, then I think that would suggest no BIG announcement tomorrow, as I would imagine he'd want to be in UK if there was a biggie announcement.

So that would suggest no RNS notice for an end of Aug meet Re travel sale.

If that is case then the loan will be dealt with nearer the time by either: a - extending (unlikely I think given end Aug deadline reach so recently); or B - the Co has access to "other funds" to settle the loan.

Meanwhile exchange on sale of T+L gets held back, as part of choreography on completion of some of those Greek negotiations...

But I could be completely wrong!

[scotty1] 16/8/2018 14:02

Microscope,thanks but it was a long time ago and was only trying to prove a point that we all have a "cross to bear"for most on here it's MIN and the BoDs 😂
Although the 14 day period is up tomorrow I'm sure there's others ways to solve the matter ie travel sale as people have spoke about and seeing as CE is back in Greece perhaps that's what he's doing at this very moment,we can live in hope 🙂

[optrade] 16/8/2018 13:57

its not hard on here dazah this thread is full of bashers nothing more nothing less news is on the way i expect a double whammy and a rerate over 25-30p in the coming days and weeks and the market makers are aware of it hence the presence on here for months EH LADS

[dazah] 16/8/2018 13:53

Indeed all can we get the 14 days obsession out of our heads please. Tomorrow is not the be all and end all. Read the discussion thread there are quite a few scenarios that can play out. Optrade feel free to educate once more :)

[optrade] 16/8/2018 13:45

he sold months ago

[microscope] 16/8/2018 13:38

Could be a delayed trade of course. Anyway with utter predictability and true to form Minoan have taken this to the final day possible, for a resolution within Hillside's currently stated timeframe - assuming nothing later today. I expect an RNS tomorrow ('good' news) or Monday which will be too late for the 14 day EGM in August (likely therefore worrying news I anticipate).

As ever with this snail, we shall see. By the way Scotty thoughts with you. I'm sure all right-minded folk will agree! :)