Minoan Share Discussion Threads

[atlantic57] 26/12/2018 15:20

No Yorgi i plead guilty.

I was just "surmising" I haven't got access to the share register.

My thinking has been that the above shareholders are the only people disclosed as above
3%.


Therefore the balance of shareholders are people below 3% I cannot accurately say that everyone else sits below 1%

[yorgi] 26/12/2018 15:13

Atlantic, that does not answer my query. We can all see from the Minoan website that there are 4 listed as being major shareholders.

You made a statement :

“Most of the shares are owned by private
Investors and and less than 1 % post comments on this bb.”

Can you explain how you were able to make that statement ?

Did you have access to the share register and the full breakdown and the beneficial owners ?

[atlantic57] 26/12/2018 15:04

Some have suggested that postings on this bb will affect the outcome of an offer.
I believe we have zero influence, we own a handful of shares and only represent a tiny
proportion of shareholders.


I believe ce is in regular contact with the major shareholders :

rs L A Adams 15,774,442 6.07%
P D Raby 15,773,850 6.07%
N Day 17,055,599 6.56%
Mr M & Mrs L Dvorkin 12,527,327 4.82%

These guys are those with influence, I am sure Christopher will discuss offers with these guys.

[yorgi] 26/12/2018 14:18

Good post Will a very good summary of the situation and potential of our CS asset. The £6m market cap of MIN in no way represents a fair valuation of our prize asset in my opinion. Let’s hope that in 2019 we will see the project moving forwards towards development.

Atlantic I’m interested in your last point. I assume from your analysis that you must have some knowledge of the beneficial owners of the shares. What was your reasoning for accessing the share register to obtain this information ?

[atlantic57] 26/12/2018 11:26

Wi I agree 100% with your analysis of the asset.I have no doubt that someone will
Exploit the asset to its full value .

The record of the min Board speaks for itself.

We know they are in talks and I am sure
They will get offers the key question is at what level.

Most of the shares are owned by private
Investors and and less than 1 % post comments on this bb.

[wi1l] 26/12/2018 10:44

Would agree that the best opportunity for a decent return will be during the first quarter 2019 but I am hoping there will be an acceptable offer tabled before the end of January.

The market cap of £6M is misleading and unrealistic when you consider the net asset value held in the statutory accounts of £50M or so and also having regard to what there is on offer for development.

The project site is massive - 5,500 acres on the Cavo Sidero peninsular on the North Eastern tip of Crete. A holiday resort project which includes 28 kilometres of coastline made up of many bays and coves.

The company has gained an un-appealable Presidential Decree which is for outline planning permission for the development of a resort with 108,000m² of build space.

Tourism and tourist based assets are flourishing in Crete with Sitia airport 30 minutes drive away from the proposed resort.

A maximum of FIVE 5/6 star hotels are to be built with a mix of luxury villas and apartments. Phase one is to build the golf course, golf complex and hotel and village at Grandes Bay (Close to Vai beach) and phase two is to develop the sites at White Sands Bay, Crystal Cove and Cape Sidero. IMV further developments of the site will follow.

Where else can you find such an opportunity?

[atlantic57] 25/12/2018 07:48

The most significant event in 2018 was the sale of travel leaving us with a debt of
Circa 1 million pounds.This single event has knocked the share price down.i don't believe a would be purchaser would base an offer on postings on a bb.Some have suggested on this bb that 24 p is possible.

Any purchaser is bound to look at the current market cap when considering their offer.
If their are a number of parties interested in the site then this would lead to an uplift as interested parties will have to bid against each other.

There is no doubt that the asset is outstanding and some one will develop the project for a considerable profit. Whether Ce is capable of doing this is another matter,
Time will tell.

The first 3 months of 2019 represent the best opportunity for Min shareholders to benefit from cs ,after that the pendulum will swing away from us.

[wi1l] 23/12/2018 21:50

a bit of technical analysis for everyone to get to grips with:




Think it means the share is going to alter course and go up for a change, well that's my (limited) understanding anyway.

[wi1l] 22/12/2018 09:06

And also FWIW suggests to me that they were hurried into this rns issued so soon after the previous share issue settling liabilities so there might be something happening sooner rather than normal Minoan timescales.

[wi1l] 22/12/2018 08:38

That was a very valid point covert wanderer, don't know why it was moderated, got me thinking anyway that they have manoevered the final pieces of the jigsaw puzzle into place and are now in a position to sell the site on/form a partnership possibly January sometime if not before. Have a feeling that it was a significant move although the final piece will be news about their options.

[atlantic57] 21/12/2018 22:58

Yes Pj keep the thread going.
I have lost touch with how many potential shares could be in issue but I suspect
400 million is a reasonable guess.

So if we get 20 40 60 80 100 million then shareholders can look forward to between 5p and 25 p

Assuming we are not suddenly advised of more unknown liabilities.

[the covert wanderer] 21/12/2018 21:23

The sale of Stewarts was a hidden related party transaction which should have been declared earlier, but was not. Why have the Company not explained that? The company have still not disclosed if the related party is still entitled to his previous options. Whats the betting that he has still got those options? (at no benefit whatsoever to shareholders) Has anyone asked the Company and got a reply? So, I would therefore still conclude that for some reason this board wants the share price low and that the share issued today in lieu of payments (not disclosed in the HY accounts)is also a related party transaction?

[waterloo01] 21/12/2018 18:05

This is a company of two people (1.5 actually) so who are they paying and for what?

[atlantic57] 21/12/2018 17:52

The Bod are in no position to make any announcements .They have had talks with interested parties and no doubt these talks are continuing with other interested parties.

However until such time as someone makes an offer there can be no announcement.
I to am baffled as to why you would issue shares just a few weeks after announcing
A placing.

I can confirm that all the optimistic noises made to me personally at the egm on the 8 October at the egm have not materised.

[head gardener] 21/12/2018 17:33

PJ, please keep the thread going, if it's only to rant, and another placing and no sign of progress.Egleton ought to make a cheering xmas message to us poor fools.

[wi1l] 21/12/2018 17:18

Not in min (yet) then.

[scotty1] 21/12/2018 16:25

Probably had no choice re accepting shares and i doubt they will be holding on to them debtors like their money back as quick as and really don't care if a share is going to explode upwards or not.as for negotiations/discussions they have had a year and a half since being given the final go ahead,not one brick laid yet and no sign of any partners etc etc. all imo of course.

[fireplace22] 21/12/2018 16:23

Another oddity was the placing on the 3rd, a placing to cover liabilities and additional working capital and further one to cover a further liability. As they weren't actually revealing what the liabilities were why split them in this manner?

[yorgi] 21/12/2018 16:16

Appears but the BOD know far more than you do and I would be prepared to also suggest whoever was accepting shares at 2.5p in lieu of a cash payment knows more as well. Could well be good foresight.

[fireplace22] 21/12/2018 16:08

There appears little foresight here with a placing required to cover liabilities barely 3 weeks from a similar placing? Someone must have known that a bill for £0.3M was about to hit them? Certainly a cause for concern if they didn't.

[fireplace22] 21/12/2018 15:43

Silja, on warrant conversion would hold 17% of the company, possible conversion of their loan to equity (at 2.5p) would give them over 25%. Let's hope they are providing the kick up the a.se the directors apparently need

[pj 1] 21/12/2018 15:42

Its been like that for a few days in the main, so im baffled by the tick downs.

[yorgi] 21/12/2018 15:40

It would appear MM's see the position in a positive light as well as they are making online bid on 500k........although only at the listed bid.

[yorgi] 21/12/2018 15:31

Yes a positive but cautious RNS in my view.