Minoan Share Discussion Threads

[atlantic57] 20/8/2021 19:10

Reading that article Microscope it is very difficult to understand why Gilbert is involved in the affairs of Minoan.

[microscope] 20/8/2021 18:29

This was article about Gilbert I was referencing for anyone interested

[waterloo01] 20/8/2021 09:27

Alpha Bank finances investments in 5 hotels of Hotel Investment Partners

Alpha Bank, as it states, is fulfilling its commitment to support the Real Estate and Tourism sectors, financing Hotel Investment Partners (HIP) in its broad investment program, regarding five hotels in important tourist destinations in Crete, Zakynthos and Corfu. HIP is owned by investment funds managed by Blackstone.

Specifically, the Bank finances the capital investments for the upgrade, renovation and repositioning in the market of the five hotels, contributing to the strengthening of the Greek hotel sector and the brand of the country as an important global tourist destination.

The first project of the investment portfolio, which concerns the renovation and reopening of the Domes of Corfu Autograph Collection hotel, has already been completed with the support of Alpha Bank.

The General Manager - Wholesale Banking of Alpha Bank Ioannis Emiris stated:

"Alpha Bank remains committed to financing high value projects, supporting the investment plans of the hotel sector and the growth dynamics of the Greek economy, despite the difficult and challenging environment created by the Covid-19 pandemic. "Our strategic partnership with HIR, the largest hotel ownership company in Southeastern Europe, as well as with Blackstone, a global leader in real estate investing, demonstrates Alpha Bank's leading role in supporting global investment projects in Greece."

[daicaprice] 20/8/2021 08:14

That’s the statement that’s kept me here and adding wi1l.

DC

[wi1l] 19/8/2021 20:16

From the Chairman's statement dated 8th April 2019:

"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."

I am not sure what actually happened to these negotiations, however the final sentence suggests that any deal will involve the opportunity for a substantial distribution to shareholders and if negotiations reach agreement in say Sept/Oct this year(not necessarily on the above case) there is a format that could therefore ensure that any distribution happens in the main soon after which suggests it will be this year rather than a few years away.

[microscope] 19/8/2021 18:33

That's fair, Arthur. CE is 75 (76?) So even if they built his villa first (cue a fair amount of boiling urine I'd imagine!) he's not going to be far short of 80 by the time they've partners, planning and build.And therein lies the issue for so many of us. First revenues are probably a couple of years away even from any partner announcements. They'll probably do one of the five sites at a time.Not long after the PD confirmation CE talked of keeping the time between that and solid funding to a minimum. That went well! :( I looked up Revolut last night. It's worth several billion. A this is money article on Gilbert (once I got past the golf outings with Trump bit) was fascinating on Gilbert. It's on first page of Google searching Gilbert/Revolut. On the plus side I doubt he needs the money from the loan, so might be extendable, but equally whether this Project would motivate him is an imponderable. If only MIN had someone able to convince him at the helm.... I doubt they currently do!(I, still, speak as a shareholder)

[clocktower] 19/8/2021 16:08

I wish there were more around like you paying your bets Wi1l.

Target now .75 for another punt.

[arthur_lame_stocks] 19/8/2021 12:24

The real problem for me is that Egleton promises much in the short term but always seems to fail to deliver, thus shareholders are constantly convinced that a value realising deal is just around the corner.

I agree in theory that it should be worth a substantial sum given all the favourable conditions in Greece but i'm still happier to be out.

[wi1l] 19/8/2021 11:04

You would have to give me good odds on that one Arthur, more like an outsider's chance odds. But it shouldn't be like that - what with a 10 sq mile plot of land - with numerous coves and spectacular sea views - with planning permission to build - with Govt backing offering generous tax breaks and incentives - even with residents backing (in the main) - with positive social distancing advantages. The list goes on, and yet............

[arthur_lame_stocks] 18/8/2021 22:55

I still fear that tangible progress is some way away here and in the meantime there will be more dilution. I sold out at a large loss after a set of results when it seemed clear to me that they were nowhere nearer to realising value than the day they got the PD.

Good luck to those that still believe but I just don't trust Egleton to deliver much in the way of shareholder value ever.

[nobbygnome] 18/8/2021 21:11

Happy days!

[pj 1] 18/8/2021 19:14

Jeez. Nobby and myself agree?.... Has this wine gone off..??

[nobbygnome] 18/8/2021 19:08

And they are still drawing their big salaries whilst trying to extend the clinical life of Lupuzor. Tim McCarthy in particular is a complete disgrace; indeed in an interview yesterday he said the drug clearly works when the last trial spectacularly failed!

[pj 1] 18/8/2021 17:22

Lupus is an awful and relatively unknown condition so a very worth while cause I believe.

Its also worth remembering that a Company IMM allowed its Directors to make £millions from gullible shareholders from a disasterously failed stage 3 trial for a product to relieve the symptoms of Lupus.

[microscope] 18/8/2021 14:37

No Arthur, just that you said to Wi1l, 'Good man' :) And again, thoughts to your Mum.

For once, even if temporarily, can't complain about the spread

[arthur_lame_stocks] 18/8/2021 14:28

Dunno what you're getting at microscope, I have worked in stockbroking but not for a very long time.

[daicaprice] 18/8/2021 14:26

I revisited the website and read through the full scheme this morning funnily enough just to refresh my memory of Directors etc
There’s enough experience there below CE or should be to get this over the line.

DC

[microscope] 18/8/2021 14:17

At risk of jinxing it, 1p bid has held for several days, despite a constantly slipping offer and selling pressure. Might just be they've been working a buy order?

Had a look at Gilbert's cv. If we count all the Aberdeen ones separately, over 30 Directorships/Partnerships currently. Even if counted as just one still around 20 others.

His acquisitions at ASTO look somewhat expensive to say the least, imho! Tiny turnover but spectacular forecasts and main one run by a co-ASTO director.

PS: Do Aim brokers only employ men, Arthur? ;) And best wishes to your mum

[arthur_lame_stocks] 18/8/2021 12:42

Good man wi1l, no need to prove it, I believe you.

I think you got caught up in the Gilbert connection.

[wi1l] 18/8/2021 12:33

No need to wait! A worthy cause - have made my donation for £10 this morning (have a copy of the receipt should you need to see it).

[wi1l] 17/8/2021 20:50

Well stranger things have happened and even still could happen but I have a feeling that it was a bit wide of the mark too.

It was their new strategy for "strategic acquisitions of undervalued asset and wealth management businesses" with "potential to deliver exceptional growth opportunities" and "where active management can unlock value", that made me chuckle a bit.

Although rather early to concede defeat,if you would like to let me know the charity I will be happy to make the donation.

[arthur_lame_stocks] 17/8/2021 18:40

Who was it that had a bet with me that ASTO would buy MIN? I hope you're not putting all of your money into the shares, I want a crisp tenner donated to the charity of my choice at the end of the year.

[wi1l] 17/8/2021 07:37

Construction rebounds strongly, trend set to continue



Private construction activity, measured by volume, jumped 98.2% year-on-year in May, according to data released on Thursday by independent statistics authority ELSTAT, in what market experts see as a clear sign of demand recovery and the positive expectations created by economic recovery.

and significantly:

Experts expect the construction recovery to continue strongly, at least through the year, since, as a measure to boost the economy during and after the pandemic, the government has suspended the 24% value-added tax on new building permits that will be issued until the end of 2022.

[microscope] 14/8/2021 14:12

Agreed Waterloo and The Skipper. The standard of broker on AIM is at best variable. Skipper regarding liquidity I guess it's what other companies they're involved with and how desperate they might or might not be. They had some warrants at 6p so I don't think we'll have much to worry about on them anyway!Can't see any list of companies on their website.We do know something has to give, eleven weeks until the Gilbert loan expires and not enough money to pay it, so they'll either have to extend again or raise money in whatever form that might be.