Minoan Share Discussion Threads

[pj 1] 12/9/2018 16:29

The last RNS was almost a total waste of time, except imo, we know Zachary have stepped in as probably other purchasers ran away. Is that a positive or not, im not sure.


Oh yeah, the Chairman has been forced to halve his remuneration.

[justjill] 12/9/2018 16:26

I think Hugo is right. Announcement will come in 2nd week in Sept. I'm just not sure which year that 2nd week in Sept will be! :)

[microscope] 12/9/2018 16:26

That was my point too PJ in my previous post. The initial HofT agreement was described as 'imminent'. That did not refer to the next announcement.
It might be imminent, but there is nothing in the RNS to say it will, or needs to, be.

Incidentally tomorrow, 13th September, marks exactly 6 months after the 13 March announcement which said there was a HofT and due diligence was under way!

Six months.

[pj 1] 12/9/2018 16:20

They HAVE NOT committed 100% to issue any further RNS

[pj 1] 12/9/2018 16:18

Nick, Yes I know, as I have posted before but where does that say they are going to issue news, or an RNS, imminently, which was my question to HUGO? It doesn't. PI's are interpreting it wrongly and looking for confirmation bias

[nick2412] 12/9/2018 15:52

Re 'imminently' it's in the rns PJ :- "Minoan is pleased to report that, following a period of negotiation, it expects to conclude imminently Heads of Terms, including exclusivity, for the sale of its T&L business"

[pj 1] 12/9/2018 15:46

They have indicated they will update when/ if terms are agreed, but with a disclaimer that Zachary agree, so even that isn't guaranteed.

And that could be weeks/ months away. We do not know

[pj 1] 12/9/2018 15:45

HUGO Where have they said they will issue any News ''imminently''

They have not, so where has your imminent timescale come from?

[hugothesecond] 12/9/2018 15:43

I believe news will come this week - 2 weeks on from announcement on 31/8 would fit the imminent timescale.

[hugothesecond] 12/9/2018 15:02

still restricting to very small number of buys

[hugothesecond] 12/9/2018 14:28

another jump up soon........

[colinzeal] 12/9/2018 14:14

What's your ETA on news Scotty? Completely subjective of course...

[dazah] 12/9/2018 14:09

I'd be inclined to get excited if sizable buys push this over 6p then I would be inclined to say "leaky leaky"!

[hugothesecond] 12/9/2018 14:06

Price moving upwards for every 10k/15k purchase today.

[scotty1] 12/9/2018 14:06

Just no patience some of you ;))))))))

[microscope] 12/9/2018 13:42

Had another read of the RNS.... "Subject to agreement, the Board expects to make an announcement immediately the final terms are agreed."

Here we go again. The previous section refers to sale of T+L, to The Heads of Terms, to the revising of terms of the loan, to exclusivity, to exchange of contracts....

Agreemenf? Final terms? of which bit(s)?

If it's a combination of most/all them we could be waiting a while yet! But it lets the board announce when it suits them... There's a surprise :)

[atlantic57] 12/9/2018 13:29

If positive things are happening on
Cs and the project is about to be
Monetarised and the only thing holding
Up is the sale of travel.

Then Surely Hillside would bust a gut to complete as they will benefit enormously
From a cs monetarisation.

Based on RNs statements this story has a few challenges.

It would appear that Hillside have been negotiating for around 4 to 6 weeks and
We are not yet at agreed heads of agreement.

Greece is a difficult place to do business
But the uk seems equally difficult.

This looks and feels like we will be into
2019 before we hear of any tangible progress.

[justjill] 12/9/2018 12:36

Dazah, we don't know what happened any of those who were interested in bidding for T+L (And we know from last RNS there were more than one)

One or all interested parties could have been REBUFFED - for all sorts of reasons.

Here's two:

an offer of part cash and part shares in the bidder company. No good to MIN, as we need all cash to clear loan(+).

Secondly maybe, BoD want as many Sen peeps as possible to still have jobs in T+L after MIN changes hands and maybe bidder company not prepared to guarantee. (remember MIN will have restructure and it appears some directors could be out)

There could of course be lots of other reasons....

[dazah] 12/9/2018 11:52

The final thing I will say is that if it is indeed in Zachary interest to have share price higher then in the last RNS why did CE say that they "don't believe" the loan will be called in...why didn't they say that Zachary has confirmed loan won't be called in. At the end of the day the shots are all in Zachary hands now so it's do a deal or die and that probably has been known for some time as we've said that we believe all the other offerees walked away. So the last RNS could have easily provided more certainty but CE and the broker chose not to. That is in my opinion the whole shadow that is cast right now and as I mentioned earlier the longer this goes on the worse situation is as also at the end of the day the company is not washing it's face with covering CE wages and loan interest so it's all just ridiculous quite frankly.

[nick2412] 12/9/2018 10:53

Exactly Hugo.

There are three questions I ask myself. Firstly, is it in Hillside's / Zachery's interest to see a thriving share price after their warrants are converted / exercised into shares? The answer is a resounding yes. Secondly, is CS worth somewhere between 50m and 100m Euros? Again I believe that is the range and even at the lower end there should be a very decent return for shareholders. Thirdly, are Greek property prices increasing and is there likely to be strong interest? Yes prices are increasing and the board, albeit in their usual style of minimalistic communication, have highlighted strong increased interest.

I am with those that find the wait frustrating but the outcome could / should be very rewarding just based on the above.

[dazah] 12/9/2018 10:49

Pocket change buys. If there was someone in the know chasing shares (knowing that there is a 15p+ takeout or other corporate action) buyers would be chasing higher prices and weaker sellers would sell so I don't subscribe to that there simply are no shares and a deal is leaky leaky...happy to be proven wrong. Let's keep waiting boys and girls.

[hugothesecond] 12/9/2018 10:33

I told you so - small pockets of buys are all you can secure.

[dazah] 12/9/2018 10:32

Indeed Scotty. In my mind I'm giving just a short extra time and I'll pair down. I just see opportunistic buying at the moment probably driven by Twitter followers. If there was serious buying then the bid and ask would go up. Let's see...The saga continues :)

[scotty1] 12/9/2018 10:21

Agree dazah but the point is the mms are obviously short on stock and when news does finally arrive :)))

[dazah] 12/9/2018 10:20

I don't subscribe to the MM knowing more than a short time in advance as clearly that would be market manipulation and also if there was something in the wind we would see more sustained buying rather than the opportunistic buying on bored sellers who are selling. The current situation is that everyone is sitting on their hands as everyone has no clue either which way.