Minoan Share Discussion Threads

[daicaprice] 07/3/2022 11:00

Might as well throw in a bit more for anyone looking in for the first time in an age, “report progress … shortly”
“Report progress in the coming period”


The Board of Minoan is continuing to fine tune its plans, and to that end has deepened its relationship with the professional advisory firm, Deloitte, who are currently completing the work on refining the business plan. This reflects stakeholder feedback and the changes already apparent in the post Covid world, as well as an upgrade in the quality of the tourism offering created by the Project. This has included reviewing and updating the architectural plans, the calculations on rates of return and other key aspects of the business model. This plan will form the basis of the core documents which Minoan will be sharing with potential commercial partners and stakeholders, feeding into a more structured process with interested parties.

The Company continues to work constructively on a number of fronts with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani (the "Foundation"), and hopes to be able to report progress in its contractual discussions shortly.

The Company is also pleased to report that site visits have now resumed after a near two year hiatus caused by Covid restrictions. Christopher Egleton said: "Tim Hill, George Mergos and I have recently returned from Crete, having had a number of meetings with potential partners, the design team, and others. I look forward to being able to update shareholders on progress in the coming period."

DC

[daicaprice] 07/3/2022 10:55

Just a reminder of our new Board member and what he brings to the table.


Minoan is pleased to announce the appointment of Mr George Mergos as a director to the Boards of both the Company and its subsidiary Loyalward Limited.

George is Professor Emeritus, Division of Development and International Economics, Department of Economics, National and Kapodistrian University of Athens.

He is a Board member of the Foundation of Economic and Industrial Research (IOBE), a private, non-profit, public-benefit research organisation.

Since May 2017 he has been a director, and from June 2021 Vice Chairman, of Terna Energy SA, a renewable energy company listed on the Athens Stock Exchange. Since November 2014 he has been a director of Piraeus Real Estate SA, the real estate arm of Piraeus Bank and of PICAR SA, a real estate company owned by Piraeus Bank.

George, aged 73, is a senior academic with extensive management experience at the highest levels in the public and the private sector. He has served as Secretary General of the Ministry of Finance, Secretary General of the Ministry of Economy, Governor of IKA, and as a member of the Boards of the Hellenic Financial Stability Fund, the Public Power Corporation and the Council of Europe Pension Reserve Fund. He is an expert on economic development, project and programme evaluation and has consulted extensively with organisations which included the World Bank, OECD and the European Commission.

George has confirmed that there is no further information to be disclosed pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

George Mergos said: "I have been aware of Minoan's Project in Crete (the "Project") for some time and of its strategic importance in terms of tourism in Crete and the country as a whole. I am delighted to be able play a role in helping the Company to create value for all stakeholders by achieving its vision for the Project."

Christopher Egleton, Chairman of Minoan, said: "I look forward to working with George and am sure that he will bring to the Company his insight and experience, which will be invaluable as we progress the Project, particularly with all our Greek partners."

DC

[wi1l] 06/3/2022 07:19

Greek economy grew 8.3% in 2021 thanks to investments and exports



"The Greek economy, in the midst of an adverse environment, recovered strongly in 2021 covering almost all the losses of 2020," stated Minister of Finance Christos Staikouras and Development Minister Adonis Georgiadis in an joint statement on Friday.

[wi1l] 06/3/2022 07:11

High yields on Greek islands



Luxury holiday homes in emblematic parts of Greece have by far the highest returns in the Mediterranean. This concerns the yields from letting them out in relation to purchase prices, rendering Greek island real estate exceptionally attractive.

It is therefore no wonder why houses on Paros and Mykonos have higher returns than residences of the same size and features in Cannes, Saint Tropez or even Capri. In recent years, despite the pandemic, the holiday homes market on Mykonos has evolved steadily from a very promising property niche into the most dynamic and active section of realty.

[atlantic57] 06/3/2022 06:53

Pj you can’t argue with the accuracy of your statement.

Nicks Summary is an excellent review of where I believe we are now or should be.

My concern is the issue of transparency .The board have claimed they can do a deal with or without the foundations agreement to adjustments being made to their contract.Of Course they will always claim they have to keep things
Close to their chest .

There does not appear to be any time limit as to how long they intend to keep talking to the foundation.

The Dagg loan is coming up yet again for renewal so that should be the next piece of news.

[nick2412] 05/3/2022 20:48

Wishing you a speedy recovery clocktower.

PJ, I think regardless of personnel it was impossible to get a deal with the previous political climate. It's a fair point, however, that this reality wasn't made clear to investors. I'd balance that comment with the perspective that it should be impossible not to get a deal that is share price enhancing, possibly significantly so, in the current political climate.

Remember MIN's project is eligible for a Greek Govt higher than the current m/cap and any investor will receive substantive tax incentives. Deloitte's involvement should help bring in credible interested parties.

I think Greece will refuse new Russian money so, thankfully, I doubt any oligarch money rushed out of the UK, Germany etc. will find its way into Greece. Greece will also lose 300,000 Russian tourists for the year if the conflict continues. If the project is appealing enough though, as it appears to be, there should be plenty of interested parties from other countries and Greece itself.

[pj 1] 05/3/2022 19:01

No doubt I will now be moderated from this biased to the Bull thread in future, but i would advise anyone to log the comments over history of the EXECUTIVE Chairpersons comments, and measure his performance against that

[wi1l] 05/3/2022 09:14

Elounda Hills: High-end Resort Investment in Greece Continues as Planned



Crete’s Elounda Hills tourism investment project continues without delays – as planned, a Mirum Hellas representative told Greek state TV channel ERT this week.

Mirum Hellas, the company responsible for the project, belongs to Russian-interest Mirum Group owned by Vitaly Borisov, who is its CEO.

“The company [Mirum Hellas] is Greek while the investment has attracted funds from all over the world,” its representative said.

The 500-million-euro tourism investment project includes the construction in Agios Nikolaos, Crete, of 1 Hotel & Homes Elounda Hills, a sustainable luxury tourism resort by 1 Hotels, expected to open in the summer of 2025.

Overall, the project foresees the development of 375 luxury apartments and residences, three five-star hotels with a capacity of 730 beds, a 202-berth marina, a helipad, stores, social welfare facilities, thematic parks, wellness and sports centers, recreation parks and more.

[fozdad] 04/3/2022 13:38

The 330k was mine, took me up to a nice round figure

[nobbygnome] 04/3/2022 12:20

But you can only buy a max of 500k at 0.995 so the MMs maybe not surprisingly just don't want to know at the moment

[rafboy] 04/3/2022 12:19

Yes decent sized buys going through.

[daicaprice] 04/3/2022 12:16

Even after it’s still only 50k @.9p

DC

[daicaprice] 04/3/2022 12:14

Somebody picking up some nice cheap stock, not me unfortunately.
Before that 500k buy, sell limits were down to 50k @.9p

DC

[wi1l] 04/3/2022 09:26

Stournaras: Greek economy set to beat forecasts



The Greek economy will grow faster than the expected average rate of 2% in the next decade because of specific reasons, Bank of Greece Governor Yannis Stournaras said on Wednesday.

Firstly, the unusually high private sector deposits, which have risen to 15% of GDP in 2021 from 6% on average in the five years before the pandemic – a development which will boost domestic demand and private consumption in particular.

A second reason is that Greece will receive around 30.5 billion euros from the Next Generation EU fund, focusing on high value-added projects boosting growth in energy saving, the green energy transition, digital transformation, employment, social cohesion and private investments.

The use of these funds will boost the country’s real GDP by 7% by 2026. In addition, Greece will receive another €40 billion from structural funds in the coming years and it is expected to attract higher foreign direct and indirect investments.

A third reason, he said, was the increased ability of the banking system to fund sustainable investment plans.

[wi1l] 04/3/2022 09:21

Elliniko luxury housing project taking shape



Lamda Development and its partners will deliver four new hotels, 27 villas, 100 maisonettes and 200 apartments in the Elliniko Marina Tower in the next five years.

The villas, maisonettes and apartments alone will bring in revenues of 950 million euros, of which some €250 million is expected within 2022. This means the average price of sale per house will be €2.9 million.

There is a lot of interest in the prices of the first residences sold. Given that the 27 villas that have already been sold will bring the contractor at the former Athens airport site some €200 million, it would seem that the average price per villa comes to about €7.4 million.

[clocktower] 03/3/2022 16:43

PJ1 please excuse if confusion in my posts today.
Have a good night.

[clocktower] 03/3/2022 16:40

Cheers folks drugs are working themselves out my system and now I know the brain is not more fuzzeled that it was ever before, I am looking forward to being as bright as a brass button very soon.

We just need to focus on all those poor souls in Ukraine, and the young Russian soldiers whom are forced to follow orders or risk being shot them selves but I hope the West does not get soft on the Russian nation until such time as the whole country has been degraded no matter who is power? Even if it takes decades. A lesson for China,India and all those that do not condemn aggressive actions against any country or wee will be next. We have to risk nuclear war sooner rather than latter, I regret to say. We must not let them down, hopefully the brave people of Ukraine are degrading Russia of their deadly munitions.we cannot be coward and let others arrynour can. I am old enough to know what it is like to be under occupation by bullies and killers.

Sorry, if you are not in agreement. I will not mention this again on this thread.

[pj 1] 03/3/2022 16:29

Hope all ok clocktower

I find your post a little bizarre though.

''I suspect it is nothing more that a seller that is in need of cash or tired of waiting for news. Unless a forced seller,''--- What other sorts of sellers are there as obviously no price target has been hit?

''I love to see this sort of sale, only to see news soon after that sends the share price in super drive.''--- How often does this happen? All over a £9k (assumed) sale---?

[nobbygnome] 03/3/2022 16:08

Third that!

[waterloo01] 03/3/2022 16:03

Second that.

[daicaprice] 03/3/2022 15:56

Speedy recovery ct.

DC

[clocktower] 03/3/2022 15:35

LOL. DC you and me, I suspect it is nothing more that a seller that is in need of cash or tired of waiting for news. Unless a forced seller, I love to see this sort of sale, only to see news soon after that sends the share price in super drive.

I am writing this from a hospital bed, but in good spirits and looking forward to a bonanza on this one very soon.

I hope I am making sense, as it’s just so I still have my faculties but I am not buying today as I might press the wrong buttons but would take more out of that 1m.

[daicaprice] 02/3/2022 23:36

I would like to be alive when it happens by the way, can’t be too long please.


DC

[daicaprice] 02/3/2022 20:07

Just got home and seen the trades that took us, not much to say when someone sells 1m @.9p.
Just hope he’s not a smart investor.

DC

[boliviana] 02/3/2022 16:50

Sobering but accurate appraisal.