Minoan Share Discussion Threads

[scotty1] 08/4/2019 09:49

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Minoan – signs of progress as FY18 results are released
BY NIGEL SOMERVILLE, THE DEPUTY SHERIFF OF AIM

AIM-listed Minoan (MIN) has released its annual results to October 2018 and there does at last appear to be some sign of tangible progress in monetising its holiday resort project in Crete. My buy tip for 2018 has so far been embarrassingly bad, for which I can only apologise. But this morning’s results have some snippets which show that things are moving in the right direction and I still sense that we might see the original buy price (6.25p) taken out.

[pj 1] 08/4/2019 09:39

nttg3
He/she is best ignored, previously he/she has at least been a conduit to spreading fake news, and probably much worse.

[newtothisgame3] 08/4/2019 09:33

Just posted: Minoan – signs of progress as FY18 results are released

[wi1l] 08/4/2019 09:19

Clean audit report by the sound of things and no write-down of the inventory.

[wi1l] 08/4/2019 09:17

All buys so far today, mis-represented by mm's pricing FWIW.

[pj 1] 08/4/2019 09:00

It seems a much more down to earth statement to me. A word ''concomitant'' I do not understand or do not think I have ever heard

[justjill] 08/4/2019 09:00

Arthur's point: "...a figure would be realised at an indicative value which the Board believe that shareholders would find attractive."

Once upon a time we dreamed of 20p per share, but more realistic about 15. Company's own report suggested long term about 50p.

But who wouldn't find a price of even a lot less than 10p per share attractive now. How times have changed.

[arthur_lame_stocks] 08/4/2019 08:57

Although regarding my previous post that value wouldn't need to be that high with the price at 1.8p to be attractive to me. I'd just be happy to get my money back now.

[pinkfoot2] 08/4/2019 08:54

Let me summarise for all

No change really but we are running out of cash again.Despite this I managed to trouser nearly £300k in salary etc.Thanks for your support.

[yorgi] 08/4/2019 08:49

Although nobody has put any money up front yet and although disappointing but hardly surprising that further funds are going to be required. The noises are all positive for the project but nothing as yet concrete which once again very disappointing after all this time.

However the present market cap still looks crazy to me undervaluing the project considerably. The question is can and how much longer is it going to take our BOD to realise a better value for shareholders.

[arthur_lame_stocks] 08/4/2019 08:39

This sounds promising:

"The discussions around value indicate that, if completed in line with those discussions, a figure would be realised at an indicative value which the Board believe that shareholders would find attractive."

[pj 1] 08/4/2019 08:30

Definite change of tone in the RNS, initial read it opens up a lot of questions, but I need a few unpressured reads to be fair!

[justjill] 08/4/2019 08:13

They don't even seem their usual chirpy, we're on the verge of a eureka moment, selves.

Maybe this year, maybe not. Maybe he loves us, maybe not.

Back to bed for another six months or more then....ZZZZZZzzzzzzzzzz.

[dave4545] 08/4/2019 08:11

terrible bringing out final results at 8am on a Monday

Obviously not good.

No reason why they could not issue them at 7am and let shareholders have a comfortable read then decide what to do rather than panic read as market opens

[yorgi] 08/4/2019 08:10

Nil reaction by both MM’s and market so far !

[scotty1] 08/4/2019 08:03

Minoan Group PLC

08 April 2019

Preliminary Results Announcement

Minoan Group Plc (or "the Group") announces its Preliminary Results for the year ended 31 October 2018

Highlights

-- Travel & Leisure division sold during the year partly in order to pay-down group debt. The division has been treated as a non-current asset held for sale in the Financial Statements.

-- The Group made a loss after taxation of GBP3,022,000 (2017: GBP2,516,000)
-- Loans classified as current liabilities decreased to GBP1,443,000 from GBP6,118,000.
-- Total equity at 31 October of GBP40,596,000 (2017: GBP42,289,000).
-- The Group has appointed a team of internationally recognised planners, architects and designers, which includes the Chicago Consultants Studio Inc., renowned experts in master planning, Vassily Laffineur an Associate at the award winning Renzi Piano Building Workshop and leading designers Desani. The Group has recently received an approach and is in discussions to create a joint venture on one of the five hotel and villa sites.

Minoan Chairman, Christopher Egleton commented:

"From the Company's perspective, 2018 was notable for the sale of Stewart Travel Limited and a marked reduction in Group indebtedness. There is now clear evidence of price increases in the Greek property market and increased activity and confidence. We are hopeful that 2019 will finally witness the commencement of the realisation of the value of our Crete project."

Minoan Group Plc's Preliminary Results Announcement for the year ended 31 October 2018 can be viewed on the Company's website, www.minoangroup.com, with effect from 8 April 2018.

For further information please visit www.minoangroup.com or contact:

[wi1l] 08/4/2019 07:12

Well??! Monday Minoan timescale perhaps? i.e. Friday week.

[atlantic57] 07/4/2019 20:14

The only thing that would move the price upwards would be a monetarising of the asset.
Until Such time as this happens we will have to wait and see.

[pinkfoot2] 07/4/2019 19:51

CE is the company’s asset and also liability.He has 26 years on the job so nobody can doubt his in-depth knowledge-almost indispensable.

To counter that, he has destroyed shareholder value and failed to execute a deal whilst trousering hefty and unjustified remuneration.

The result is a slow lingering death.

[pj 1] 07/4/2019 19:22

Its rare but not unknown for a Company's share price to rise 300% or so over after a few days following good news, so I would cling to that. However, that would only get to 7.6p.


Maybe the news would be sufficient enough to start some sort of bidding war for MIN, to realise greater gains.


300% is some ask though, its not for Investors really is it, more for blue sky punters hoping to get lucky?

I struggle currently to see how any Investor would buy the Titanic chart in an basically insolvent Company.

[pinkfoot2] 05/4/2019 19:41

Just suppose someone comes in and wants to buy-you don’t buy a telly for £600 when it’s in the shop window at less than 2p-particularly when the vendor has no money and an enormous debt which is rapidly coming up for repayment-oh and the vendor doesn’t actually own the telly because he hasn’t paid for it.

The writing has been on the wall for this mob for years.

[microscope] 05/4/2019 18:09

I can just about remember when the share price was 3.25p. Heady days ;)

[wi1l] 05/4/2019 16:55

Well Min won the 3.25 JLT chase at Aintree. No excuses there!!

[atlantic57] 05/4/2019 16:03

I don't understand some of the comments that have been attributed To CE.

1) Britain is leaving the eu , this is effecting negotiations ( Known for 3 years )

2) The low market cap is an issue. ( No attempt by the bod to lift the sp, rather the opposite)

3)Never ending talks with third Parties ( Not a single announcement as to how talks terminated)

4) We need to tidy up the balance sheet ( Numerouse announcements on this theme but again zero detail on what the liabilities are and how they have been built up .