Minoan Share Discussion Threads

[jamdan1] 21/9/2018 09:21

Well..I'm out couldn't afford to lose anymore money. Very poorly run company who obviously only look after themselves. Can only see a placing in the not too distant future which will only drag the shp down further. Good luck everyone one

[waterloo01] 21/9/2018 09:06

How much cash do they need post T&L sale to keep running while they find/close an investment in CS, given the move of many with T&L and CS reducing salary?

[pj 1] 21/9/2018 09:02

atlantic. You are not alone. Due to capitulation of the share price many Investors are now targeting break even as being realistic, and prepared to reduce risk by not targeting any profit.

Its a perverse yet common situation where long standing supportive share holders may not see a return, for a number of reasons, yet short term traders will prob run away with profits, once/if funding is secured

[atlantic57] 21/9/2018 08:57

Dazah made an excellent call.

The market knows another big placing is on the way !

The directors may have been in talks with third parties where they believed with both travel and cs they believed they had credible buyers.

However it is apparant now is that the purchasers knew that the seller was in a desperate position and has taken full advantage.

On the balance of probability any purchaser for cs is aware that we have an asset but no revenue.

I don't feel there is any prospect of getting anything like 100 million euros in these cicrcumstances.

Nick I was previously encouraged that Zachary had 50 million reasons to push a sale through. That was when the warrant price was 8p,it will end up say 2 p.Therefore they will be happy to sell at a low price.


Some basic rules for investing are here for all of us on min
The market has been correct all along.

[sandcrab2] 20/9/2018 20:40

The Zachary warrants will be adjusted on any equity issue, which now seems inevitable

But presumably only after the EGM

100m shares at 2.5p is my guess

[head gardener] 20/9/2018 20:20

Just J, Nomads & Neds are for sale to the highest bidder, especially on Aim , where regulation is never enforced. Minoan will spin CS and its development with placing after placing, as the past experience tells . Sorry for my conclusion.

[atlantic57] 20/9/2018 18:44

Well any placing now would at a very low price !

I suggest we all pray for a hard Brexit this would make our asset worth more in Sterling terms if I have got my maths correct.

I am sure we will be sitting her on 29 march 2019.
So we need to factor in another say 30 million shares in issue.
Very surprised that Zachary don't exercise their warrants as they will be diluted further.

[tsmith2] 20/9/2018 18:22

No revenue generating assets...£900k debt company says debt or equity being considered to raise funds to clear debt..not too difficult to figure which way that coin will turn..

[pj 1] 20/9/2018 14:46

JJ-Its a difficult one. It can be argued both ways that withholding information is dishonest or not. I tend to think its tactical more than anything, but I accept others have differing views on it.

Off course the main issue with being dishonest (if so) is that the dishonesty will not just be to the Market will it,


I still think that's too harsh

[justjill] 20/9/2018 14:31

I know your trying to be fair PJ, but I just wouldn't rule out the option now given what has been going on with directors and sale of T+L.

To me that was not "honest" and up front with shareholders and surely NOMAD and NEDs should have been on that.

[colinzeal] 20/9/2018 14:21

As PJ has highlighted, they've been spinning the same old tired promises for years - I doubt they've even made any tangible progress with CS at all, even after all this time. If anything, they've run the company into the ground whilst feathering their own nests. Still, this is AIM so none of us should really be remotely surprised.

[pj 1] 20/9/2018 14:12

JJ-TBF I wouldn't use the word dishonest

[justjill] 20/9/2018 14:11

Short of brain cells obviously.

[pj 1] 20/9/2018 14:10

Mind you. CE could be short?

[colinzeal] 20/9/2018 14:09

I honestly believe that if he was to leave we'd be trading higher than we are now.

[justjill] 20/9/2018 14:08

"Nice" summary PJ.

So are they the words of one who is: deluded/incompetent/dishonest/deeply unlucky?

Or the other option - all of above!

[pj 1] 20/9/2018 14:08

it gets better, 5 weeks ago

31/7/18 approaching a very rewarding period in the Company’s history and that the latter part of 2018 will see major developments.....pending what I believe will be very welcome news over the coming months. 5p

There seems to be a disconnect to reality somewhere?

[microscope] 20/9/2018 14:03

Brilliant PJ, dunno if you collect them but a coin heading your way :))

[pj 1] 20/9/2018 13:59

LOL
microscope , which 12 month period?

30/7/2013 The coming year promises to be the most significant and transformational in the Group’s history.”

1/4/2014 look forward to reporting to shareholders on further significant progress in all areas of the Group’s business over the next twelve months

31/7/14 I look forward to reporting to shareholders on further significant progress in all areas of the Group’s business in the next few months.


30/3/15 The coming months promise to be very exciting for the Group,

30/3/16 The next year is destined to be the most exciting and fruitful for the Group, its shareholders, Directors and staff and I look forward to making further announcements in the future.

14/7/16 whilst there are momentous events over which we have no control, we have never been closer to fulfilling our substantial potential.

31/3/17 The next year is destined to be the most value enhancing in the Group’s history and I look forward to making further announcements in the future.

26/7/17 The forthcoming year looks set to be a transformational period for the Group

5/4/18 the Company’s share price performance has not fully reflected this achievement....what I believe will be very welcome news over the coming months.

Im sorry, he just cannot survive, it so laughable it hurts ( not just financially)

I suppose I should note the share prices against each statement hes made, but I think you can guess which way each went. The Market didn't believe it, we did!!!

[microscope] 20/9/2018 13:52

Overall agree the overall discussion on this bb and analysis is - and has been for some considerable time - better than elsewhere.

My view remains though that the 50 million valuation for CS remains for the moment pie in the sky. Until final detailed planning is achieved for the various parts, partners are secured, and financing achieved, the 'Project' remains to have many huge challenges to overcome, not least because i still don't think the board have a realistic 'vision' for how on earth it will all be accomplished.

But remember this 12 month period was supposed to be the most beneficial one to shareholders in the company's history.... :))

Thereby, perhaps the most depressing piece of today's whole announcement this morning for me was

"Despite having to make the difficult decision to dispose of Stewart Travel, the Company remains hopeful that the next twelve months should see significant progress toward the monetisation of the Project."

[atlantic57] 20/9/2018 13:23

The discussion on here is sensible.
The travel purchasers knew the company had a loan to repay and tried to take full
Advantage.

Cs potential partners are aware of the fact that we are not generating any income they
Will use to there advantage.

If I get 10 p I will get my money back

[nick2412] 20/9/2018 13:08

ShareProphets article gives a 'worst case' scenario of 11.4p for CS (based on a book price of £40m for CS and a funding making MIN debt free)and a best case scenario of 25p were MIN to get 80m for CS.

[pj 1] 20/9/2018 12:54

Not so sure JJ. Same purchasers (related party's) but different funding, hence Zak having to move in when the funding wasn't forthcoming?

Its looks as if it's an outside possibility the Managers at Stewarts have deliberately let trading slip, to get a better price, but then its backfired on them and funding never materialised.

I think that's my understanding of it.

Again , imo MIN should have originally admitted the related party.