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Share Name Share Symbol Market Type Share ISIN Share Description
Minoan Group Plc LSE:MIN London Ordinary Share GB0008497975 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025 -2.63% 0.925 0.90 0.95 0.95 0.925 0.95 5,741,379 15:52:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 0.0 -0.9 -0.2 - 6

Minoan Share Discussion Threads

Showing 22001 to 22021 of 23300 messages
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DateSubjectAuthorDiscuss
30/4/2021
13:54
Indeed you do. I'm pleased, and think it's important, that the directors 'right' to buy is out there. At least it's not free and at cost plus 10% will make little difference, however by putting it into the accounts it might also suggest getting everything clear for when deals are done, so a positive IMO.
waterloo01
30/4/2021
13:47
microscope, there are two issues there, one is lease length (and the certainty of 99 years is quite different from 40+40) and the revenue sharing, which is vital for both sides as it makes the project attractive to a partner and will provide the church with enough funds to secure it's future well into the next century. It's in both parties interest to come to a deal that isn't prohibitive to any partners (and it's only once it starts that revenue is generated) but also provides the church with both certainty and significant income.
waterloo01
30/4/2021
13:47
They have no cash and they also have to Pay the church 3.9 million pounds When the contract is activated . Therefore the church are key as to whether This ever moves
atlantic57
30/4/2021
13:36
Problem is that they've no cash to spend on building all these villas, and the Foundation have not much incentive to negotiate profit sharing arrangements, which is obviously a stumbling block for MIN for now. It's not an extra ten years on the lease that's stopped potential investors for the five years since the Presidential Decree, but it's the profit sharing level that's too high. Nobody will buy the lease while it remains in its current format. I remain sceptical, an open offer could certainly help MIN's own finances and put the company on a safer footing.
microscope
30/4/2021
13:18
hTTp://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/LocwbUyn The chairman’s comments support Waterloo’s view
atlantic57
30/4/2021
12:58
I think it's to do with capitalising loyalward, as the contract is with Loyalward and it gives it greater clout (yes we own 100% of Loyalward)
waterloo01
30/4/2021
12:55
That is a good question I will give some though rather give a quick answer
atlantic57
30/4/2021
12:51
atlantic, any idea what the reason/motive of buying our subsidiaries shares could be?
fireplace22
30/4/2021
12:45
Checkout Yorgi min bb for Will analysis of the accounts makes very interesting reading.
atlantic57
30/4/2021
12:42
You have a very good eye detail Will. The detailed points you have covered are very very interesting.
atlantic57
30/4/2021
12:37
And of interest too possibly: Page 49 Note 21 Events after the reporting date "On 31 March 2021 the Company subscribed £10,000,000 for 2,000,000 ordinary shares of 25p each at £5.00 per share in its subsidiary company Loyalward Limited, utilising part of the sums owed to it by that company".
wi1l
30/4/2021
12:34
I think Christopher could save placing costs for future fund raises. He could simply put his bank details up and we could make donations straight into it.
atlantic57
30/4/2021
12:26
Whereas: Page 48 Note 20 Shareholder Loyalty Scheme The land on which the Group's Project in Crete will be constructed is held on a long lease and, as a result, any properties offered to purchasers will be on an equivalent title. Since inception, as part of the Group’s financing arrangements and as a potential reward for loyalty for staff and others, notably through the Shareholder Loyalty Scheme which was placed under review in 2011, the Group offered discounts to potential purchasers of properties in the Project. The properties range from apartments with fractional/shared ownership and apartments and villas, which may or may not be part of a “serviced offering”. The potential sums involved are not material in the context of the Project as a whole
wi1l
30/4/2021
12:24
AND blow me down: Page 48 (right at the back) 18 Contingent liabilities and commitments Other than as stated in note 10, the Group has contingent liabilities in respect of directors’ bonuses and options. The directors’ bonus scheme, which was approved by the Remuneration Committee of the board on 6 November 2019, grants the directors a variable performance award which is based on the monetised value of the Project. The present directors of the Minoan Group Plc have the right to purchase a total of 8 Villas between them under the Villa Participation Scheme. The right allows them to purchase the properties at cost plus 10% upon commencement of construction". All news to me!!
wi1l
30/4/2021
12:19
Interesting bits & bobs on the full accounts: Page 34 - Note 7 Intangible assets: "The Project is assessed using fair value less costs to sell. The directors have assessed the recoverable amount of the Project as being greater than the combined carrying value of the goodwill and inventories of £50,014,000 at 31 October 2020 (31 October 2019: £49,431,000) on the basis of valuations previously carried out and the positive progress made in the period since (see also note 10)." And Page 38 - Note 10 Inventories: "Inventories at 31 October 2020 amounted to £46,431,000 (31 October 2019: £45,848,000), comprising costs associated with acquiring and developing the site in Crete, planning and other design costs. In particular, the directors have considered the current value of the Group’s overall interest in the Project and its progress and are of the opinion that the Project site has longer term value in excess of the carrying value of inventories."
wi1l
30/4/2021
11:35
Well that should work in our favour as it will force the BOD into doing deals once the contract is amended. Agree next news in the coming 'weeks and months' will be DAGG extension, contract amendment and then finally some serious deals to get the whole thing started. Done and dusted by end of summer?
waterloo01
30/4/2021
11:28
Wouldn't be surprised to see DAGG start playing hardball. Have to question motivation as to why DAGG llp was set up in the first place, don't think it's some magnanimous gesture.
mortimer7
30/4/2021
09:47
I wonder when the next fundraising will be?
arthur_lame_stocks
30/4/2021
08:56
Well spotted skipper, on the commitment for more regular updates. The phrase "I will be able to" suggests that he hasn't been able to be too forthcoming whilst sensitive negotiations with the Church have been ongoing . It also indicates to me that the agreement with the Church is fairly imminent and the main basis for an agreement has been reached. It's the first time that I have seen that he has alluded to the discussions with the Church so specifically, and that suggests the main points have been agreed and the final minor bits are being tied up. Without progress he would have just remained silent or had an obscure and fairly meaningless reference to this factor. I think MIN will have a number of valuation scenarios to put to interested parties based on the final agreement with the Church. I can see things more very quickly from here. That's all relative of course in terms of MIN speed. But with Gilbert's influence I suspect things will be tied up by Autumn or year end and holders with saintly patience should be highly rewarded. The commitment for regular communications suggests CE knows what is lined up and the Church deal should free up his quill and ink.
nick2412
30/4/2021
08:55
A bit of press coverage would be nice over the weekend, the Mail on Sunday could give an update, it is after all a slightly positive covid story. DC
daicaprice
30/4/2021
08:55
Dealing with the Church will no doubt be quite different than B2B negotiations, money will perhaps not be of paramount concern.
fireplace22
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