Minoan Share Discussion Threads

[pj 1] 30/4/2019 08:56

I was planning on attending, but honestly you would not believe the excuse why not and will think im 'barking mad' or have lost the plot.

[waterloo01] 30/4/2019 07:48

Anyone going today? Will try and make EGM next week. As it stands I'll probably take up my shares.

[wi1l] 30/4/2019 07:45

I am not referring to the preliminary accounts but the annual accounts filed on the Minoan website under:

Financial & Regulatory Documents (AIM Rule 26) »
Report and Financial Statements
» Minoan Group Plc Report and Financial Statements – 31.10.18

Where there is a full audit report mentioning going concern etc dated 8th April.

(Suggest you take a look as I am not trying to mislead you merely understand the vagaries of company reporting)

[pinkfoot2] 29/4/2019 22:15

Wrong-the results and accounts were preliminary and do not constitute statutory audited accounts-which are normally produced a month later.Note the directors believe the company is a going concern but there is no similar note by the auditors.

I’m sure all will be revealed tomorrow

[wi1l] 29/4/2019 20:27

Pinkfoot2 the year end accounts have been signed by CE and the auditors way back on 8th April in other words before your conspiracy theory evolved. The accounts and audit report are available on the Minoan website for all to see. Surely,if there was any doubt in their minds presumably the auditors would have waited wouldn't they?
On the disposal of Stewart travel the Bod mentioned they would need to raise funds for working capital and an effort has also been made to clear a considerable amount of debt from the balance sheet in addition to this. the funds raised should, I hope, tied them over until the first Joint Venture is up and running.

[pinkfoot2] 29/4/2019 18:49

I have read the latest info again from the company-I am now convinced this is about Going concern/audit sign off, coupled with absolutely no cash.

Stepping back,it is good news that the debt is going-it had to because it potentially destroyed all shareholder value and also the value of the loans as loans in an undeveloped asset still to be paid for are worth nothing.In essence, the loan note holders have to fund the machine as the consequence of not doing so is catastrophic for them.Its certainly not what they bought into as their original loan now has stakes in a travel business and land in Crete.How did that happen?Poor performance by the exec team.

But-a lot of the conversion stuff relates directly to board remuneration-it̵7;s not new money.Rather it’s dead money being rewarded with equity.It demonstrates that CE is still seen as intrinsic to a deal-despite abject failure.

Will the Open Offer succeed-looks unlikely to me but the company will raise the cash because the loan note holders have no choice

[justjill] 29/4/2019 11:13

Was thinking about the "lock-in". And lock-ins happen lots of times, to stop those who benefit from cheap shares getting out at a quick buck and undermining things in the process.

But thinking of us. We are at such a low point historically, why would you need to "lock-in" anyone. If the story is good, wouldn't they be prepared to stay on for reasonably long-term anyway, as the price would supposedly be going to keep rising for some time and therefore they would keep gaining - (after one ASSUMES share price will rise!)

Or is it a case of the BoD know that nothing of real substance will happen for some time (and therefore no sharp share price reaction soon), but they do hope the share price will now move up a bit and don't want people bailing too soon taking us back to were we where at such a low point too quickly.

[wi1l] 29/4/2019 09:45

Bout the right time to buy Min shares, will be interesting to see what happens this week. Any buying in volume will see a good move up. IMV

[yorgi] 29/4/2019 09:15

The future is for investors and investing.

[yorgi] 29/4/2019 09:14

Spending too much time looking backwards and worrying about what might have been and what should or shouldn’t have been done risks leaving one in the mist of history. History is for historians.

The stock market is always looking forwards and in my view that is where ones focus will be most profitablely rewarded.

[atlantic57] 29/4/2019 08:32

Potentially good rewards for these who buy at these levels

Of course many will have averaged down so they may make a positive return.

Given how many years this has dragged on for and indeed is still dragging on for many
More will be facing big losses or getting back capital invested.

The analysis provided by variouse tip sheets never got to grips with basic balance analysis.I put myself in this group.

[waterloo01] 29/4/2019 08:30

Have to pay over 2.75p to buy. If that continues they'll have a better take up from holders. Difference is they get some extra cash rather than balance sheet reductions.

[scotty1] 29/4/2019 08:10

Unfortunately only for those that bought/buy in at these levels yorgi.

[yorgi] 29/4/2019 08:08

I agree Waterloo, I’m of the view the finishing line is now within sight. A lot longer wait than we had expected from approval and doubtful we will see the high returns we had once hoped for but still a very good return from this level.

[wi1l] 29/4/2019 06:56

Pity they can't añnounce another JV at one of the other locations sometime this week. That would really set the cat amongst the pigeons!!

[pinkfoot2] 28/4/2019 19:16

Yorgi in overdrive again but as someone else pointed out,if you had listened to me or others with a similar view, rather than Yorgi,you wouldn’t be sitting on losses for some of 97pc!!

Let’s see what comes out at the AGM and what’s in the post year end notes in the accounts-like debt cleared etc to present a Going Concern.As I noted, I doubt there is any deal anywhere near fruition because that would take all directors etc into a closed period.

[waterloo01] 28/4/2019 15:30

Agree with both posts. Definitely feels like we are in sight of the finishing line.

[pinkfoot2] 26/4/2019 15:25

Let’s see what the post year end notes say in the accounts when formally adopted at the AGM

[pj 1] 26/4/2019 13:41

I'm not sure the pictures are of the Crete development?

[microscope] 26/4/2019 13:20

The more I think about this, the more I feel that this is mainly or purely the essential actions that Pinkfoot has highlighted. I don't think it means much more than that, though it naturally helps to clear the decks for negotiations.

The Directors had no real choice as I see it - if they've not been paid, shares were the only realistic alternative. And once the accounts are signed off, pressure is eased, even if the cash position will likely remain precarious.

The fact that pictures have appeared at this point might suggest to a cynic that the designers have finally been paid a few quid!

Long suffering holders can only hope that the individual planning processes are a lot less tedious than in the past. They should be, given the Decree in place, but will still doubtless take time.

And time, for Minoan, given that financial situation, is now of the essence.

[pj 1] 26/4/2019 12:57

It may be worth mentioning that HSR tipped MIN around 11.8p with I recall a 16p, price target. As it now seems the ''tip'' may get to break even at best, that has to be very doubtful and may partly explain TW's apparent silence on the stock.


As far as HSR is concerned, an number of their tips are in exactly the same situation. It really is astonishingly bad,

[wi1l] 26/4/2019 12:47

Progress!! The web-site has had a few pretty pictures added to it.

[wi1l] 26/4/2019 10:40

What happens to your theory if the accounts have already been signed off!!