Minoan Share Discussion Threads

[pj 1] 27/12/2018 10:33

I am unsure of the legalities here regarding the Monastery.
I assume any developments would have to be sanctioned by the Monastery and I currently struggle to see how any related party transaction within Minoan would benefit the Monastery, as in effect, they would still be dealing with the same people who have yet failed to develop anything


Does anyone have any more insight than me in these matters?

[wi1l] 27/12/2018 10:31

However also without Zachary's assistance over a number of years this company wouldn't still exist. They could have played a different game on the sale of Stewart travel and chose/engineered the right path that in the end helped everyone out.

[wi1l] 27/12/2018 10:27

Very good points Atlantic, makes the first few months of 2019 ever more so important for an "arms length" deal to be done (if that's the right wording). I understand your point about Zachary, they are waiting in the wings to influence matters solely for their benefit.

[fireplace22] 27/12/2018 10:22

Wi1l, thanks for that info. Surely increasing their stakes gives them more leverage? Concert party with zachary (on warrants conversion) would give them around 30% wth zachary having extra leverage with the £900k loan. Anyway just a suggestion, I'll continue to wait and see how it pans out.

[atlantic57] 27/12/2018 10:21

wI I am not saying this is a deliberate policy , what I am saying is that it could unfold.

Time will tell bit it is evident that the bod communications with shareholders leaves much to speculate on...

[wi1l] 27/12/2018 10:17

Minoan owns Loyalward and Loyalward is the company that is being used to develop the CS project. Not sure how much influence Raby and Day have but they both increased their shareholdings in Minoan recently, which suggests to me they are still actively involved in a positive way and actually thinking about it it also slightly dampens your idea as if they were considering such a manoeuvre they most probably wouldn't have needed to do that.

[fireplace22] 27/12/2018 10:05

wi1l, The company has previous, the Travel business was prised out of our hands via a zachary and interested directors manoeuver and immediately went on to better things, was that 'enabled' on the understanding that zachary and other major holders (directors of Loyalward) would get an easy run with CS before that miraculously gets it's development partners on board.
How are Loyalward and Minoan interrelated and how much influence do Raby and Day have with Min? - Sincere question.

[wi1l] 27/12/2018 09:54

That's an interesting viewpoint fireplace.
I have always taken comfort that two of the main shareholders, Day & Raby, are also directors of Loyalward and as directors of Loyalward they can influence the direction of the CS development in a positive way and that any benefit they as shareholders of Minoan get will also benefit us normal investors. ie by looking after their interests they look after ours as well......
Zachary still have to exercise their warrants, makes you wonder what their viewpoint is on the way forward, they seem to be holding their cards back to play at a later stage. When would be a good time to exercise their warrants?

[fireplace22] 27/12/2018 09:34

I still expect the company to receive an 'in house' bid with the excuse that no outsider is willing to make a 'meaningful offer'. Expect the two directors with significant holdings and zachary (on exercising warrants) to make an offer.

[yorgi] 27/12/2018 09:00

PJ my reasons for not posting on MIN or any BB for most of the last year was in no way related to MIN.

2018 like 2017 has been a very disappointing year share price wise and for any tangible progress on the CS project, that is to say the least.

Despite the company looks well undervalued in my view, compared to the prize asset the company has.

I did also look again at the two posts I moderated after comments by yourself and Will and reinstated one.

Let’s hope we soon receive some news of clear progress on bringing CS closer to becoming a reality and our patience we’ll rewarded in 2019.

[yorgi] 26/12/2018 17:20

With valuations for the project being up to something in the order of £80m and I believe some mentioned a figure as low as £20m which is still several times the present market cap.

[yorgi] 26/12/2018 17:16

Thanks for clarifying Atlantic.

I have no doubt that whatever is posted here or on LSE will not have any bearing on the final outcome of any negotiations between the BOD and possible investors/partners in the project.

I also have every confidence that CE and the BOD will achieve a good return for any shareholder invested at this low SP/market cap.

[gerhart] 26/12/2018 16:17

PJ please keep the thread open and free of censorship. No one is forced to take part and we are all(?) stakeholders, so should feel free to rant was we wish!!!!!

(Given placing so recent, can't imagine any news before end Jan. And given Nick(?) says elsewhere that CE said asset would increase during first six months of next year, then makes you wonder if anything of note will happen during that period. IE - why do a deal if not yet at expected full value.

...turkey sandwich, and a glass of patience, anyone? :)

[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.