Minoan Share Discussion Threads

[pinkfoot2] 12/4/2019 08:29

I fear this latest ramp is going to burn a few fingers again-you have been warned.Good luck all

[pj 1] 12/4/2019 08:26

And of course now the designers are appointed, then the chances of inside dealing increases, and as often happens the share price action will precede any news

[scotty1] 12/4/2019 08:18

"Saves" tourist investment - mammoth in Crete

Economist Economist 12/04/2019 07:44 BUSINESS

In advanced talks on finding a strategic investor to finance the development and exploitation of ... the longest-running property development project in the Greek territory, is the British company Minoan Group Plc.

The reason for "Ithos Gaia", which concerns the tourist development of an area of ​​over 25,000 acres in Ormos Faneromeni, in Sitia, Crete, owned by the "Panagia Akrotiriani" Public Benefit Church.

This land has been leased to the British investment firm Minoan Group Plc since the mid-1990s. Indeed, due to the many years of delays, the original contract, which lasts for 40 years, provides for a renewal right for another 40 years.

According to Mr. Chris Engleton, chairman of the company, negotiations with interested investors (including the exchange of written offers and related documents) are ongoing, with a view to setting up a syndication scheme, under which the " one of the five five-star hotels and holiday villas planned for the area.

On the basis of the proposal, Minoan Group Plc will contribute part of the land to this new scheme, with the investor to undertake to finance and develop the property, as well as to choose the international hotel group that will manage the real estate which will be built.

According to information, the required control is currently underway on the part of the investors and reference has also been made to the possible amounts to be valued for the value of the agreement.

If there is a positive outcome in the relevant discussions, it is expected that the procedures for issuing the required building permits will be enforced. Based on the urbanization that has been and has been approved by the Council of State, the "fast-track" investment of 270 million euros, provides for the construction of about 108,000 sq.m. (mainly hotels and luxury holiday homes), which corresponds to about 0.5% of the total area of ​​25.000 acres.

The plan provides for the development of hosting facilities with a total capacity of 1,936 beds and an 18-hole golf course. The project is estimated to create 1,200 direct jobs.

At the same time, during the past year, Minoan Group Plc has moved on to other moves, which show that the start of the works is near. In particular, it has recruited internationally renowned architectural and design offices, which have undertaken the design of hotels and residences, aiming at achieving a distinctive and attractive aesthetics that will in itself be a reason for attracting visitors and home buyers.

In this context, the Chicago Consultants Studio (CCS), which has significant parchments in the field of land planning, is involved in this design group. Also, the group is also the Desani group, which specializes in designing consulting services.

The work involves both the configuration of the resort's outdoor and communal areas, the design of the buildings, and their interiors.

In fact, as the management of Minoan Group Plc says, the initial stage of the relevant process is progressing towards completion and has already been communicated - in a very positive way - to international customers of the above-mentioned hospitality offices, who have even expressed their intention to invest in the project, either as shareholders or as real estate buyers.

[scotty1] 12/4/2019 08:14

"Saves" tourist investment - mammoth in Crete

Economist Economist 12/04/2019 07:44 BUSINESS

In advanced talks on finding a strategic investor to finance the development and exploitation of ... the longest-running property development project in the Greek territory, is the British company Minoan Group Plc.

The reason for "Ithos Gaia", which concerns the tourist development of an area of ​​over 25,000 acres in Ormos Faneromeni, in Sitia, Crete, owned by the "Panagia Akrotiriani" Public Benefit Church.

This land has been leased to the British investment firm Minoan Group Plc since the mid-1990s. Indeed, due to the many years of delays, the original contract, which lasts for 40 years, provides for a renewal right for another 40 years.

According to Mr. Chris Engleton, chairman of the company, negotiations with interested investors (including the exchange of written offers and related documents) are ongoing, with a view to setting up a syndication scheme, under which the " one of the five five-star hotels and holiday villas planned for the area.

On the basis of the proposal, Minoan Group Plc will contribute part of the land to this new scheme, with the investor to undertake to finance and develop the property, as well as to choose the international hotel group that will manage the real estate which will be built.

According to information, the required control is currently underway on the part of the investors and reference has also been made to the possible amounts to be valued for the value of the agreement.

If there is a positive outcome in the relevant discussions, it is expected that the procedures for issuing the required building permits will be enforced. Based on the urbanization that has been and has been approved by the Council of State, the "fast-track" investment of 270 million euros, provides for the construction of about 108,000 sq.m. (mainly hotels and luxury holiday homes), which corresponds to about 0.5% of the total area of ​​25.000 acres.

The plan provides for the development of hosting facilities with a total capacity of 1,936 beds and an 18-hole golf course. The project is estimated to create 1,200 direct jobs.

At the same time, during the past year, Minoan Group Plc has moved on to other moves, which show that the start of the works is near. In particular, it has recruited internationally renowned architectural and design offices, which have undertaken the design of hotels and residences, aiming at achieving a distinctive and attractive aesthetics that will in itself be a reason for attracting visitors and home buyers.

In this context, the Chicago Consultants Studio (CCS), which has significant parchments in the field of land planning, is involved in this design group. Also, the group is also the Desani group, which specializes in designing consulting services.

The work involves both the configuration of the resort's outdoor and communal areas, the design of the buildings, and their interiors.

In fact, as the management of Minoan Group Plc says, the initial stage of the relevant process is progressing towards completion and has already been communicated - in a very positive way - to international customers of the above-mentioned hospitality offices, who have even expressed their intention to invest in the project, either as shareholders or as real estate buyers.

[wi1l] 12/4/2019 07:12

The trickle of buying could soon turn into a flood. Most have held since the ye açcounts on Monday which suggests any increased buying will leave the market short and a faster improvement of the share price. Today will be significant and any buying will show this. All IMV though.

[yorgi] 11/4/2019 16:09

225k buy has moved the share price up again 😊

[yorgi] 11/4/2019 14:55

“a figure would be realised at an indicative value which the Board believe that shareholders would find attractive”

[yorgi] 11/4/2019 14:53

This part in particular :

Any transaction would include the right for the Group to monetise a large part of its JV interest. 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

[yorgi] 11/4/2019 14:50

From results RNS :

Negotiations

The Directors and management of the Group continue to progress Joint Venture and Partnership discussions in respect of the Project. A number of principals, or prequalified intermediaries, have executed non-disclosure agreements and, as a result, numerous meetings have taken place in Crete, Athens, and London.

In that respect the Group can disclose that it has recently received an early stage written approach that, if it were to progress, would result in the formation of a joint venture ("JV") with the objective of developing one of the five hotel and villa areas within the Project. The proposal would see the Group contributing land with an ascribed value to the JV and its JV partner providing equity, project finance, development expertise, and established links with an international hotel group that is a proven operator at the luxury end of the resort and villa rental market. Any transaction would include the right for the Group to monetise a large part of its JV interest. 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.

At the current time, because due diligence is being carried out on the proposal and the counterparty and various conditions precedent and details are being either satisfied or determined, there can be no certainty that the approach will progress to an agreed transaction.

Outlook

During the current year it is hoped that the absence of the non-recurring losses the Group experienced in the year to 31 October 2018 together with the continued control of overheads and corporate development costs, the benefit of lower levels of debt and further financing will lead to an improvement in the Group's performance at the net before taxation level.

I and my colleagues believe that 2019 will finally witness the beginning of monetisation of the Group's interest in the Project and hope that the market value of the Group begins to reflect that of its assets as further news of JVs and other transactions materialises.

Christopher W Egleton

Chairman

[yorgi] 11/4/2019 14:48

Buys yesterday and again today under 2p has got to be a snip in my opinion. Regardless of the frustrations we all have 6000 acres of land in a most beautiful area of Crete ready to be developed has got to be worth more than £5.5m.

[wi1l] 11/4/2019 14:45

Very rare occurrence PJ!

[pj 1] 11/4/2019 14:41

Good call Will. I take it you do not get every call as correct as your last one?

[wi1l] 11/4/2019 13:43

Momentum will build, atlantic, they just have to get the JV at the first location under way and then there will be a scramble for the rest. If all locations are JV it will also mean the company will be entitled to a share of future profits which will be a plus in any future valuation/market cap. With the stellar architects putting their name behind the project is also a major plus IMV. The pieces of the jigsaw puzzle are coming together with only a few now missing.

[atlantic57] 11/4/2019 13:14

Minoan remind me of the tv series
Based on the hypothetical legal case
Jarndice v jar ndice .

I think everyone agrees without contradictiont that the target price
Is now a fraction of what it was a year ago.

We await monetarisation of the asset

[pinkfoot2] 11/4/2019 12:48

I think it’s the BOD that needs overhauling mate-not the system.I admire your tenacity but after all the off takes and hangers on have fed on this carcass, there will be nothing left for the outside shareholder.The share price reflects it and those buying and only giving those who want out an exit.

[wi1l] 11/4/2019 08:21

Its been pretty slow since the results were announced however over the last three days PI's have bought 1,058,945 shares and sold 183,543. Somehow the system of recording needs overhauling as the records show bought 175,565 sold 691,923 and unclear 375,000. Complete misrepresentation of whats happened.
The buying interest is there, building gradually. The selling interest has gone away (so far).
Any buying today (without any selling) will see the share price change upwards IMV.

[microscope] 08/4/2019 15:38

I think it's good that they've appointed proper 'designers', so that potential partners can see a more professional presentation of the possibilities.

I also quite like that at last a sense of reality might finally be setting in. A potential partner for ONE of the sites. This development was never going to happen 'all at once', but more likely over several (many?) years. Even this first stage does seem to be at a very early stage of discussions, so I sense already another summer might slip by without 'bricks and mortar' progress.

Of course the coffers remain flashing on empty meantime and that's the danger. And fundraisings at the current shareprice would be heavily dilutive. With an announcement on that apparently in short order, it's unlikely to be at a premium to the current price.

Overall I think the risks continue to increase every month that goes by, however the opportunity does feel as though it is closer to being at least in part 'monetised'.

It could have been worse today. All imho

[atlantic57] 08/4/2019 14:39

I think a review of all posts shows a greater enthusiasm than previous rns statements.

However forgive me for repeating myself. the key really is time.

If they can announce a deal quickly even with another placing the market could well react positively.

However the more time goes b with no announcement we are back to square one.

[pj 1] 08/4/2019 14:29

I actually feel a little more enthused after todays RNS.

I note they have not used the words ''imminent'' or ''transformational'', that I have noticed anyway, which is a big positive.


Director remuneration still sticks in the throat though

[atlantic57] 08/4/2019 13:15

Pink foot I would love to be wrong as I am sitting on a huge loss.

The key to where we are now is time.
If the board can finally announce a monetarisation of the asset then the market would reassess the market cap in line with the valuations ascribed to the monetarisation.

However as more time goes by it is inevitable that more and more placings will be needed just to keep afloat.Zechary are hovering in the wings .

As I say time is the key issue now.

[pinkfoot2] 08/4/2019 12:55

I can’t believe there are some here who hang on to every word from CE-a costly mistake.Atlantic speaks sense-do the maths and check out Zachary who will surely pounce if there is any value.

[iman1974] 08/4/2019 12:18

"He"his name is Colin aka @smallcappick he's got about 40 twitter handles and goes by newtothisgame optrade dice1950 plus some others on ADVFN he's sent me threats by a few of his ADVFN accounts.

[atlantic57] 08/4/2019 11:58

The key points here are
Current liabilities nearly 9 million pounds

Therefore enterprise value is nearer
16 million before allowing for further options being exercised.

Results confirm that the Directors made
A complete mess of the sale of travel.

The target price has plunged from say
25 to 30 p this time last year to 5 to 10 p

I think we will get more than 2p.
However if ce continues to deliver
At current levels of performance then
The favourite must be Zechary who will
Pick up the asset for peanuts.

How many shares will be on issue by the end of 2019 my guess is 600 million

I remain a holder downside limited upside
Potential depends on ce

[newtothisgame3] 08/4/2019 11:28

#MIN #Minoan Focused On Resort Project In Crete