Minoan Share Discussion Threads

[rafboy] 24/9/2021 14:22

Good points and he must be aware his time may be coming to an end unless something is pulled out the bag. Mr Gilbert didn’t buy in not to make a profit so I think it is all coming to a head and October could be pivotal for MIN.

[microscope] 24/9/2021 13:50

Thanks Atlantic. It's never easy stating home truths, particularly as a shareholder. It does seem at least we are all on the same page regarding October being critical in many ways. Waterloo as my post I hope demonstrated, I'm also happy to see what happens next month before reaching too many conclusionsI certainly don't crave a placing, Nick. But ever since the sale of the travel business (and Presidential Decree) the company has pretty much had a hand to mouth existence through funding after funding, with no spare cash. It's not unreasonable to believe that rinse/repeat is the most likely outcome.The obvious other option would be a rollover of the loan, or perhaps Gilbert and co would accept a chunk of the Project in return for cancelling it, but I'd imagine they'd demand substantially more than 1.1 million's worth. But at some point the company has to put its own financial house in order. For context, even repaying 1.1 million at 1p a share issued, would involve over 100 million new shares. The company will need a whole lot more money than that along the way.None of the other potential game changers as you describe them necessarily make CE the right man to take the Project forward.He could stay on as a consultant or Non-Exec for example, as he will have contacts in Greece and knowledge of intimate details. But a more dynamic CEO prepared to take a more proactive approach to attracting partners would imho be in all our interests.

[atlantic57] 24/9/2021 12:28

Yes agreed that is why many long term shareholders remain on board.

However two points remain unclear .

A) Have the bod decided to proceed once the law changes without any adjustments from the foundation ,

B) If the answer is yes then things could move very quickly ,if the answer is go back to the foundation then the timescale is unknown given we have been negotiating with them for 4 years.


This is probably why the share price is stuttering

[wi1l] 24/9/2021 11:41

Game changers with everything to play for:

1)The plot of land - TEN square miles with numerous alcoves and spectacular coastal views.
2)The impending change of law on new investments.
3)The current market Cap at £6M.

[rafboy] 24/9/2021 11:15

Totally agree Nick especially regarding the new law. I think we have the best climate in which a deal can be struck coming up very shortly. Moreover, as you point out the bigger players need multiples of the current share price and I very much hope they will see those figures on the table fairly soon.

[nick2412] 24/9/2021 11:11

I think you are right rafboy.

I think Microscope who seems to crave for a placing is likely to be disappointed. The majority stakeholders in DAGG who hold the loan (details in Companies House) consist of shareholders with significant holdings at substantially higher average share prices. They are aligned with shareholders in wanting minimal or zero dilution and a prospering share price. They will also be aware of the enhanced prospects of the imminent Greek parliament legislation and the positive impact this will have for a deal.

In terms of the latter I don't think investors have cottoned on to the positive enormity of the impact that the legislation currently going through Greek parliament is going to have.

Once on the statute in the next couple of weeks or so then it will transform the deal making prospects for Minoan on a scale that few have fathomed yet. In my view it makes what was a difficult deal to achieve a significantly more enticing and straightforward one.

The bigger picture in Greece as well is that I read recently that the price of hotel rooms have soared by a factor of 10 in relatively recent times whilst build costs have only doubled. So, aside from the legislation, there are other compelling economic factors in the Greek tourism property sector that should lead to a decent deal for shareholders.

In my view it's an irony that the share price is at its lowest when the prospects for Minoan and a transformative deal are seemingly the best they have ever been.

Clearly the loan has created an air of uncertainty, but if you look at the structure and self interest within DAGG (all substantive shareholders with high share price average holdings), then there are compelling reasons for them to do what is in the best interests of the share price. They will also be fully aware the Greek legislation changes the prospect for a deal dramatically.

[rafboy] 24/9/2021 10:46

We should be blue.

[rafboy] 24/9/2021 08:11

Nice to the buys first thing. Think October will be interesting too, we shall see.

[atlantic57] 24/9/2021 07:07

Very Good summary Microscope .
I would think that every single poster including new investors will be underwater .

The month of October should give us the clearest indication of where we are in this project.

[waterloo01] 24/9/2021 06:32

NCH Capital to invest 180 mln euros in Cyprus

US hedge fund NCH Capital plans to expand in Cyprus with three major hotel and apartment projects close to Larnaca, creating over 1,000 jobs during the construction phase next year, and another 800 once the projects are fully operational.

Invest Cyprus has hailed this 180-million-euro investment in Cyprus as a “clear sign” of the island’s post-Covid economic recovery.

The shift in demand from traditional family-owned hotels to “high-quality” branded hotel resorts in the wake of the pandemic spurred NCH Capital’s plans, said the company’s managing director in Greece and the Western Balkans, Andreas Santis.

Construction of the projects is expected to drastically change the image of the west coast of Larnaca, a seaside area with untapped opportunities for development. Several luxury hotels are under development along its stunning coastline.

[waterloo01] 23/9/2021 16:42

microscope, I suspect many would agree with you but lets see what October brings. I think much of the silence is waiting the Dev law enactment, which should be in the next couple of weeks.

Missing the opportunity that the Dev law delivers and the current favourable environment, is unthinkable, and I hope that also includes CE and the rest of the BOD as much as it does shareholders.

[wi1l] 23/9/2021 16:32

Possibly rafboy - House broker showing no interest recently in buying any popped up on the bid and then jumped off this pm to his usual position.

[microscope] 23/9/2021 16:30

This'll not be popular but a reality check is sometimes needed.

30 April: Change of tone to going ahead with or without Foundation's blessing. We all remember the narrative.

CE signed off with a familiar note

'I am pleased to be able to say that I believe that I will be able to update shareholders on progress on all the major issues more frequently over the coming weeks and months'.

Since when, almost 5 months on

1) Notice of re-convened AGM
2) Result of said meeting
3) interims
4) placing
5) ....nah nowt

There are 26 trading days until the 1.1 million Gilbert loan has to be resolved.

With every drop in the share price it's more likely a placing (and open offer to shareholders?) is on the way

With every drop more shares at a lower level will probably be issued, adding to dilution.

For all the improving investment environment, things in-house at Minoan are looking rancid to me anyway. CE is in his mid-70s. Time's up at the end of October imho

Resolve the loan and announce substantial partner(s) by 31st Oct, or voluntarily let someone else take the reins.

Mealy-mouthed apologism including on this bb needs to stop. Enough is Enough.

Action speaks louder than words.

[rafboy] 23/9/2021 15:45

Yes big drop on a 30K share sale. Unless more to show up later?

[waterloo01] 23/9/2021 15:40

on sale at under 1p. grrr

[wi1l] 23/9/2021 08:10

Greek PM: Investor Interest, FDI Lead Way for Dynamic Growth



Greece’s attractiveness as an investor destination and stronger export activity are two crucial indicators of a robust economy as well as priority targets under the country’s National Strategic Extroversion Plan, presented on Tuesday by Prime Minister Kyriakos Mitsotakis.

The prime minister referred to the country’s success in attracting foreign direct investment (FDI) as well as the interest of investors which has exceeded all expectations.

[waterloo01] 23/9/2021 06:57

Georgiadis meeting with the Minister of Investments of S. Arabia

After the meeting, Mr. Khalid bin Abdulaziz Al-Falih stated:

"First of all, I am excited to visit Greece. The two countries, with significant national heritage and great power in the political and economic spheres, have had close relations for many, many decades. There have always been good relations at the interpersonal and political level, but now this relationship is being upgraded to the level of strategic cooperation. Today there is the potential for bilateral economic cooperation to move to such a point that it has no historical precedent as on the one hand there is the will of the leaders of the two countries and on the other the reforms in Greece with the National Plan for Recovery & Sustainability "Greece 2.0 And in Saudi Arabia with "Vision 2030". This gives us the unique opportunity to strengthen bilateral trade and investment flows to the two countries by exploiting their comparative advantages. His Excellency, the Minister of Development & Investment, Mr. Georgiadis, contributed in every way to make our visit extremely productive. We started last night with the signing of an agreement between the Ministry of Investment of Saudi Arabia and the Hellenic Investment and Foreign Trade Company - Enterprise Greece to facilitate investments from Saudi Arabia to Greece. The agreement establishing a business council between the Association of Enterprises & Industries (BSE) and the Confederation of Chambers of Saudi Arabia will be signed this afternoon, while now we had an excellent meeting here at the Ministry and we will continue our discussion with Mr. Georgiadis at lunch. The dynamics are very great. I believe that you will see a lot of investment in both countries as well as business cooperation between the two countries in business plans in other countries as the dynamics of the private sector of the economy in Saudi Arabia and Greece can add value to our friends and partners in the global community. ».

On his part, Mr. Adonis Georgiadis pointed out:

"For many decades, the bilateral relations between Greece and the Kingdom of Saudi Arabia have been at an excellent level, as well as the cooperation at the economic level - the investments prove it. In the context of the decision of the Greek Prime Minister and the Crown Prince of Saudi Arabia to deepen and further expand bilateral cooperation, I had the great honor today to welcome His Excellency to the Ministry of Development & Investment. We reaffirmed our common will to strengthen economic cooperation by taking advantage of business opportunities and promoting investment in both countries. A business delegation from Greece will visit Saudi Arabia next month, while a business delegation from Saudi Arabia will visit Greece by the end of the year.

[clocktower] 22/9/2021 13:51

Nobody admits to selling as big a wedge tim000 - so how many more are there being sold or are the MM short by a parcel and a half?

I have seen it before on these penny stocks, when a company goes onto issue a huge bundle of more shares, and only then the share price moves upwards.

[tim000] 22/9/2021 11:52

Bought another 300k, now 5.7 mn, just under 1%.

[hugothesecond] 22/9/2021 11:24

Almost time to top up again below 1p !

[daicaprice] 22/9/2021 10:00

Yet another article highlighting revenue expectation and infrastructure spending.



DC

[microscope] 21/9/2021 20:21

MIN trending on twitter!!Grrrr, the horse, not the company :(

[waterloo01] 21/9/2021 17:16

There are deals to be done. It's a question of getting into the position to get the right price. Remember most of the major holders have averages a lot higher, between around 4p-5p, some higher.

[rafboy] 21/9/2021 17:01

You would think that if they can’t do a deal now they never will. I expect something soon based on the current positive business climate in Crete.

[wi1l] 21/9/2021 16:40

Nine Suitors Bid for Crete’s Heraklion Port



Nine potential investors are interested in acquiring a majority stake of at least 67 percent of the Heraklion Port Authority SA on the island of Crete, the Hellenic Republic Asset Development Fund (HRADF), a member of the HCAP Group, recently announced.

Nothing like a bit of competition to help the sale.

Hope this project has attracted similar interest..............