Minoan Group PLC Option Expiry Dates (5037A)

TIDMMIN

RNS Number : 5037A

Minoan Group PLC

29 December 2017

MINOAN GROUP PLC

("Minoan" or the "Company")

Option Expiry Dates

As previously announced, Directors and executives have historically agreed to accept options in lieu of their salary and other entitlements. These options (with exercise prices of 1p and 7p per share) are due to expire on 31 December 2017. The Remuneration Committee has decided that it is in the best interest of the Company to extend the expiry date to 31 December 2018.

In addition, the Remuneration Committee has also elected to extend the expiry dates of options with exercise prices of 8p and 10p per share from 31 December 2017 to 31 December 2018. These options were granted to satisfy certain existing commitments,

As a result, the expiry dates of the Options shown below are now 31 December 2018 (the "Extension").

 
 Number of    Exercise 
   Shares      Price 
-----------  ----------- 
 11,252,136       1p 
-----------  ----------- 
  2,575,000       7p 
-----------  ----------- 
  2,500,000       8p 
-----------  ----------- 
    250,000          10p 
-----------  ----------- 
 

The Extension represents a Related Party Transaction pursuant to AIM Rule 13. As all of Minoan's Directors possess options that are subject to the Extension, there are no independent Directors for the purpose of AIM Rule 13. In relation to the Extension, WH Ireland, Minoan's Nominated Adviser, considers the terms of the Extension are fair and reasonable insofar as its shareholders are concerned.

For further information please visit www.minoangroup.com or contact:

 
 Minoan Group Plc 
 Christopher Egleton                    [e-mail] 
 Duncan Wilson                          0141 226 2930 
 Bill Cole                              020 8253 4305 
 
 WH Ireland Limited                     020 7220 1666 
 Adrian Hadden/Alex Bond 
 
 Morgan Rossiter                        020 3195 3240 
 Richard Morgan Evans/James Rossiter 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 29, 2017 02:00 ET (07:00 GMT)