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MIN Minoan Group Plc

0.75
0.05 (7.14%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.05 7.14% 0.75 0.70 0.80 0.75 0.70 0.70 3,581,527 08:34:33
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hotels And Motels 0 -1.07M -0.0013 -5.77 6.17M
Minoan Group Plc is listed in the Hotels And Motels sector of the London Stock Exchange with ticker MIN. The last closing price for Minoan was 0.70p. Over the last year, Minoan shares have traded in a share price range of 0.475p to 1.275p.

Minoan currently has 822,091,319 shares in issue. The market capitalisation of Minoan is £6.17 million. Minoan has a price to earnings ratio (PE ratio) of -5.77.

Minoan Share Discussion Threads

Showing 22276 to 22299 of 32400 messages
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DateSubjectAuthorDiscuss
29/4/2022
11:19
Many thanks for the snippets .... we await further developments :-)
livewireplus
29/4/2022
11:16
Thanks waterloo, appreciated.

DC

daicaprice
29/4/2022
11:14
Excellent stuff waterloo, thanks very much for giving your feedback.

How on earth is the company valued at only £7.5 million…

nobbygnome
29/4/2022
11:10
Just back from AGM. A few snippets, the most important probably is that George wasn't there as he was at a meeting this AM with the Foundation to discuss proposals.

Once we have an agreement it shouldn't take more than a few weeks/ a month to complete paperwork. Once done they can move forward with concluding commercial discussions.

CE repeated what had been said in the RNS about DAGG and loan extension/renewal. Given there were two members of DAGG in attendance, I'd take that as very encouraging.

The 100m figure was again stated as 'conservative' and could be a great deal higher.

They intend to update the website in the near term with more details from the Deloitte report and updated design plans as per RNS.

There will be another meeting in 3 weeks (to approve accounts) at which George should be present.

I'll add more if anything comes to mind, but in terms of values, It was suggested that the NAV (reconfirmed in the audit) is a good starting point.

waterloo01
29/4/2022
10:28
1.25p looks like buying a bargain again.

DC

daicaprice
29/4/2022
08:27
Completely agree. It's absolutely clear they are at last moving forward with the business plan and tingible progress is imminent. For those who can look forward and not back this is a unique opportunity because so many people are wary due to the past delays. It really is different this time and I think George was the key to that change.

Onwards and upwards!

nobbygnome
29/4/2022
08:05
Terminator the update clearly shows what has been achieved since the presidential decree was issued .However that is yesterday with a different set of circumstances and to a degree a different Management team.

What we have to focus on today is where the Company is and the immediate outlook.
George has quickly demonstrated and ability to understand the frustrations of long suffering shareholders and more importantly demonstrate tangible progress.

I would say the outlook from here is very promising and would expect the share price to react positively to news flow.

I am greatly encouraged by the new man at the helm and expect results in the near term.

atlantic57
29/4/2022
07:47
It will be interesting to hear if anything good comes out of the AGM. I think waterloo will be there. I seriously considered going but it's such a pain to get into the City for an early meeting!
nobbygnome
29/4/2022
06:23
Blah blah blah. This non revenue generating dross is literally years and hundreds of millions away from any revenue.
terminator101
28/4/2022
14:40
Thanks folks. Yeah good question Nobby. Think the upside in the next 12 months would come from a draft agreement with the Foundation announced, subject to legal documentation, a big name appointment, and eventually a confirmation of a partner.It's anyone's guess really, but I was hoping for one of these three today. I was talking 2p and the draft agreement I think would achieve that almost immediately.Meantime a placing above 1p, which is now in play, would help morale.It's been six years since the Presidential Decree,.....
microscope
28/4/2022
14:19
For what its worth my guess is around 3p Nobbygnome.
clocktower
28/4/2022
13:06
Agree Nobbygnome fund raise last year was agreed in July - no reason to rush this year esp if a foundation deal is close.
hugothesecond
28/4/2022
13:03
>> microscope

Good luck to you but one question. What do you think the price will be if as I strongly expect, they announce a successful church renegotiation within the next few weeks? Any raise will come after that news I suspect...

nobbygnome
28/4/2022
12:57
Good Luck microscope, and very fair comments.
clocktower
28/4/2022
12:37
Looks like a chunky buy just gone thru
hugothesecond
28/4/2022
12:10
A mix of positive and negative features in the statement, I think.

Deloitte's plans do seem, pardon the pun(s), pretty much concrete, albeit in nature still flexible enough to accommodate various final proposals.

Turnover of 100 million plus, though some years away undoubtedly, is another juicy carrot for investors at these levels, and a likely longer lease another positive. Also further board strengthening (when they can afford it?) Should happen in the next twelve months.

Other references to 'adjustments' 'several proposals' and 'legal documents' however lead me to think a final concluded contract is still not imminent.

That shouldn't worry patient investors unduly, but there isn't going to be an investor announced until it is. They say they'll pursue talks with hoteliers and other potential investors during negotiations with the Foundation "and then" complete discussions with these investors.

Meantime the loan should be secured but there will be further fundraisings, ("need to raise funds in order to meet its existing and working capital requirements" in going concern notes) which will continue to limit share price growth meantime imho.

I put up five key points I wanted to see in this statement, having waited several years. There's some good things in it, but not quite enough for me

I don't expect it to be for long, but for now I'm out

microscope
28/4/2022
12:10
Fair comment clocktower, and it obviously works for you. My own preference is to buy and hold (with a bit of top slicing)in a decent size and only sell if I discern that what I perceive to be a bullish outlook has changed. Holding in reasonable size does make it more difficult for nimble regular 10% profit trading in small caps (especially with the spreads) but good for you if you are able to do it.

Good to see the nav value confirmed by the auditors Will, even with a bit more dilution it equates to about 5p or 6p per shsre.

nick2412
28/4/2022
11:57
LOL Nick212.

This thread is one of the best.

I wish everyone well and I am always happy to leave a profit for someone else. It's rear I buy at the very bottom, though I did here, and on the way up, and I try not to sell at the peak either, as the volumes usually fall away, and one is left with a problem unloading volume as you well know.

I am happy to admit my mistakes with stocks I have traded or held but I often point out the negatives, even if I hold large amounts - I admit it has cost me at times but take the good with the bad and take it on the chin and add up the winners but why boast about them, as long as you stay well ahead.

PS. I am in deep at present in TRX - so note the share price now. 0.48 and if it drops a lot I will take a big hit if you care to follow out of interest.

clocktower
28/4/2022
11:52
So MIN is already in discussions with various commercial partners:-

"The Company worked extensively with Deloitte in Greece ...concerning the Contract and the lease agreement as well as with different types of commercial partners for the Project."

nick2412
28/4/2022
11:42
Some excellent points as usual Will.
waterloo01
28/4/2022
11:28
Clocktower, with respect, I have seen anyone so uber-bullish when they are hold and so ultra-bearish when they are out. No doubt some rogues do it with different usernames but, fair play to you, for being shameless :)


The written word can be mistaken for being overly harsh so, for the record, it amuses rather than irritates, so all the best with your trading and I hope you are in for the much bigger rises.

Here's a helpful line (nicked from another thread where I hold) for when you are next in:- 'many, many pounds not pence.' There won't be any basis of reality to that with MIN (3p to 8p seems to be the very broad potential range in my not so humble opinion) but never mind about that.

nick2412
28/4/2022
11:16
A few things of note:

- Operating costs fell by over 69% to GBP511,000 (2019/20: GBP864,000) due to reductions in UK salary costs and legal and professional fees.
Tucked away at the back it looks as though CE has reduced his salary this year from £134K to just £40K.

- The report of the auditors on the statutory financial statements for the year ended 31 October 2021 and 31 October 2020 was not qualified.

- NO IMPAIRMENT on Inventories £46.758M. The auditor must be satisfied that the value of inventories ie the project, is no lower than this figure. And as we all know this is MUCH higher than the present market cap £7.2M

- Management and Deloitte have re-examined the key assumptions and numbers in the Business Plans, which show stabilised Project turnover, once the resort becomes fully operational, in excess of EUR100m.

- The proposals included one which was based on an acceptance by Loyalward of a set of principles and documentation set out by the Foundation as being their preferred basis of cooperation.
Suggests negotiations with the foundation are close to being finalised.

- The Company is continuing discussions with its major lender and reports that both parties are working towards a mutually acceptable solution to help to ensure the Company has sufficient working capital for the next year. The Board fully expects, subject to detailed agreement, that the repayment date of the borrowing will be further extended.
Maybe the lender will be providing additional sums for working capital rather than the usual fund raising via placings therefore reducing further dilution.

AND THE POTENTIAL for:

The best resort in Greece and the Eastern Mediterranean.

wi1l
28/4/2022
11:16
I think lots of things, including a reasonable DAGG loan renewal, will fall into place once they confirm an amended agreement. I suspect potential project investors are all awaiting that event, as it 'fires' the starting gun on commercial discussions.

Given they have said the Foundation have put something on the table suggests it's less "will they deal" but which development option will they go with.

"In December 2021 the Company submitted the new Masterplan and detailed designs to the Foundation. This was followed in March 2022 by the presentation of proposals for adjustments to the Contract for the lease of the Cavo Sidero site together with a full presentation of the Business Plans prepared by Deloitte.

The proposals included one which was based on an acceptance by Loyalward of a set of principles and documentation set out by the Foundation as being their preferred basis of cooperation."

waterloo01
28/4/2022
11:14
I think if a church deal is close then we are on a winner here. I like the update today as it seems like George isn’t hanging about.
rafboy
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