Minoan Share Discussion Threads

[justjill] 29/8/2018 14:40

Oooh it's plunging now Smith, is it?! OMG! Man/woman the life boats!

The Twitter mob wouldn't realise, that this is just Deja vu - all over again!

[pj 1] 29/8/2018 14:38

I now believe it would be right to suspend the shares pending full clarification of what is, or is not, happening.

This cannot be an orderly Market, minute trades are affecting the share price. Suspend the shares and then MIN can give full disclosure to the Market.


SLE did it this year ago whilst possible bids were evaluated by the Co (none were eventually forthcoming)

[smith76] 29/8/2018 14:34

Price plunging now, over 6% down...

[grannyboy] 29/8/2018 14:14

I've been watching these for quite awhile..and I've never seen a company take so long to complete an asset sale of any kind, never mind the sale of a shifty little travel agency....there has to be a catch somewhere!!!..

[atlantic57] 29/8/2018 13:20

Nick with respect that is an excellent
Post on the potential of Min.

It does not deal with why Bod have been
Unable to conclude a relatively simple transaction on the sale of travel.

[nick2412] 29/8/2018 09:15

It's often overlooked here that Hillside have 50m warrants exercisable at 7p. That's 50m reasons to want to see a thriving share price.

Greek leisure property assets are thriving which suggests that, in this climate, MIN should get an optimum price for a partner investment or outright sale (my preferred route) for CS.

At (best estimate) 20p to 25p a share or a circa 75m to 85m Euros valuation for CS based on all options and warrants in play then that equates to a more than attractive 6.5m to 9m profit for Hillside on their warrants.

Based on the current climate for Greek leisure assets then that 75m to 80m could well be at the low end if there are competing buyers. The last RNS highlighted that interest had picked up with significant interest.

With confirmed partner / outright buyer interest with an associated value attached then the shares should accelerate rapidly. With travel offloaded then it's an obligation for CE to ensure MIN is lean and mean with low overheads. I believe that will be the case. Just a few exercised options or warrants will see them more than comfortable.

It's a frustrating wait and I'd like to see MIN be more forthcoming but maybe their hands are tied to the extent of the information they can put out. Looking at the bigger picture, the self-interest of Hillside and a buoyant Greek property market then that suggests that the realistic asset value of CS will ultimately be reflected in the share price.

[justjill] 29/8/2018 09:08

Smith I wish you and the other dipsies would go away and play with your toys on Twitter. Most who read or contribute to this BB have been around FAR TOO LONG(!!)to pay any attention. So you guys would be better and might get more attention talking in the echo-rant-chamber of Twitter than on here. Have a nice day.

[scotty1] 29/8/2018 08:57

"will MIN reach 4p today?"

Very doubtful,but keep trying by all means.

[smith76] 29/8/2018 08:48

Bid now dropping, Twitter has proclaimed RNS is imminent (if you want to understand the AIM terminology that is imminent check out BLVN a few years back waited years; and check out KEFI imminent securing of $9m (note the word imminent)) will MIN reach 4p today?

[smith76] 29/8/2018 08:05

I wonder if the Twitter crew will post the first MIN sell of the day link! I'm a buyer at 4p.

[dazah] 29/8/2018 07:56

Thanks Gill, a breath of sensibility :)

[justjill] 29/8/2018 07:50

I think the next RNS will be Friday or Monday, just to say that they have extended the loan again. (Unless, as I previously thought, they had been given access to a separate "bridging loan" to finally pay off Hillside.)

Meanwhile, the "handing-over" or completion of the T+L sale is being held, pending first signed deal on Crete. That is in order to ensure - as CE previously stated - that time frame between losing revenue from T+L, following sale, and receiving first money from CS, is kept as tight as possible.

[smith76] 29/8/2018 07:42

Ive been watching MIN now for a while, interesting BoD and all the more interesring that there is still no update. Definitely needs some Twitter ramping today, come on boys Twitter has been quiet on MIN these last few days, they've moved on to other stocks now the update hasn't materialised. Squeaky bum time?

[dazah] 29/8/2018 07:26

Will be interesting how the trades go today, I'd suggest you switch off and put an email RNS alert in. If there is any upwards leaky leaky that would be great, otherwise expecting an interesting day with a large spread.

[dazah] 29/8/2018 07:23

Unbelievable no RNS. My bet is that there will be no RNS tomorrow but Monday instead to keep the suspense to the very end.

[fozdad] 29/8/2018 01:15

Personally, I want to know what's going on with T&L simply because I'm getting tired of the suspense, it's now too much of a distraction and needs putting to bed one way or the other, but I'm much more interested in finding out more about the potential partner for CS who was described in the March update thus...

"The Company has recently received an approach from a credible party which has expressed an interest in acquiring a significant stake in the Project. Discussions are at an early stage and the Company will provide shareholders with an update in due course."

[microscope] 28/8/2018 22:20

Pj you might be right that the sale has fallen through with the original preferred bidder, but the company have done nothing to discourage the idea that it is still on. Two quotes interest me.

On the back of your posts I've gone back and read some old RNSs again

2 July: 'The Board expects that the Company will be in a position to exchange contracts in respect of the sale of STL in the next few weeks. Further, it understands that no issues have arisen during financial and commercial due diligence'

And in the interims RNS 31 July:

'In this coming period I believe that we will conclude the sale of the T&L business.'

The second one just slid past me at the time, I took it as a simple reiteration of the 2 July remarks. And it might be.

But I read the latter one again, as I did tonight, prompted by your posts, and while I appreciate it's pure speculation yet again, that 31 July comment is a LOT less specific.

Did something happen in July to soften the tone?

Maybe in one of the next few mornings we will find out it's all done and dusted at last, which would be a massive relief for everyone I'm sure, but like you I'm beginning to wonder.

[pj 1] 28/8/2018 21:53

If you were buying a football club facing serious financial issues (or any other business) for £70m, would you concentrate on the tangible assets and playing staff, or the one player who was bought for £10m 2 seasons ago and is now valued at £5m on the balance sheet, but now no one wants to pay any cash for?


What would you do? Where would you concentrate your energy and strategy. Would the one bad player get in the way of the deal?


Would you concentrate all energy on selling the player for £5m and let the £70m take over play 2nd fiddle?


I know what I would do.

[pj 1] 28/8/2018 21:30

As posted a few weeks ago and repeated a few times its clear to me that the original purchasers who entered DD have left the party and are no longer interested. Why it was allowed to protract for so long is amazing and beyond my level of understanding. Also why that (purchaser walking) was not RNS'd begs serious questions as well. Maybe there were hidden agendas, who knows. We have to hope and assume that another interested party has made a bid. That can be the only reason for the lack of any detail in the last RNS.


Can we please move on from the DD issue as it is now no longer relevant, ist all in the past. They walked away.


I freely admit to having no experience in the T&L industry, however, I have been part of small business take overs some time ago. Maybe someone with T&L experience could comment on the estimated valuation metrics for Stewarts?

In reality is there any value and good will to it, or any tangible value. Is it as easy for a competitor to just start up their own agency from scratch, in effect valuing Stewarts at almost zero, hence why no one seems keen to buy it?


If the rumours from this BB are correct that Crete interest is dependant on Stewarts sale, then again, that does not make any sense to me. Why would a major deal worth say £70m one way or another, be held up by a small hurdle worth less than 7% of the main transaction??? I'm sorry but 7% does not stop major deals, those things get negotiated.


Why have they not given Stewarts away (maybe they are who knows) and finalised the finance and partnerships for Crete?


It seems to me we cannot see the wood for the trees and are concentrating on the wrong area. We shouldn't be concentrating on Stewarts, it's just a smoke screen. All IMO

[atlantic57] 28/8/2018 18:38

Well I really am looking forward to the next Rns.
I cannot for the life me grasp what has being going on.Based on the information in the
Public Domain they are clearly still in negotiation with somebody.

The "somebody " has clearly not finalised the deal but also not said no.
Talks have allegedly been going on for 8 months with somebody.

I haven't even considered cs

Bod please speak to us....

[dazah] 28/8/2018 15:05

I think the goodwill of this months rise is now faltering so that news would be preferred SOONER rather than LATER BoD if you are reading, there are some loyal long term shareholders waiting (I'm relatively new od course) but don't want some weaklings bail at the last moment :(