Share Name Share Symbol Market Type Share ISIN Share Description
Minoan LSE:MIN London Ordinary Share GB0008497975 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.35p +5.34% 6.90p 521,716 09:00:26
Bid Price Offer Price High Price Low Price Open Price
6.50p 7.30p 6.90p 6.55p 6.55p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 7.3 -2.3 -1.2 - 14.99

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Date Time Title Posts
19/3/201814:28Minoan Group- Travel and Leisure Company9,792
04/1/201808:22Minoan Group18
29/6/201721:56Minoan Group - with charts152
20/5/201707:05Minoan Group-
28/2/201621:52Minoan Group Leisure Resort Developer3,241

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Minoan Daily Update: Minoan is listed in the Travel & Leisure sector of the London Stock Exchange with ticker MIN. The last closing price for Minoan was 6.55p.
Minoan has a 4 week average price of 4.75p and a 12 week average price of 4.75p.
The 1 year high share price is 12.63p while the 1 year low share price is currently 4.75p.
There are currently 217,223,442 shares in issue and the average daily traded volume is 1,614,848 shares. The market capitalisation of Minoan is £14,988,417.50.
scotty1: Minoan - double good news... but far from discounted in share price By HotStockRockets | Thursday 15 March 2018 Things are, at last, happening at Minoan (MIN) in a way that will create value for shareholders. First up there is the Travel & Leisure division which we already knew was for sale. But we are now told that an exclusivity agreement has been signed and due diligence is under way. If the sale goes ahead we are told that Minoan will be “substantially” debt free. In other words almost debt free. We also discover that Q1 gross sales are up 15% at T&L with commission up 10%. That should encourage the potential purchaser. Meanwhile we are also told that in Greece back at Cavo Sidero the company has received an approach from a "credible party" which wants to buy a stake in CS. In the past valuations of CS were up to 100 million Euro but we cannot see a stake being bought for that sort of valuation now. But Minoan's market cap at 6.65p mid is £14 million and we can't see a stake in CS going for anything less than a multiple - 2-4 of that. And so if a deal goes through, and the company will give us an update with FY numbers at the end of this month, that will then drive a big re-rate of the stock. We understand that Minoan's history of non-delivery and constant placings puts some off. That is why the shares are so cheap. But clear delivery could be upon us and the value will then be unarguable. So that makes the shares a clear BUY.
atlantic57: The short term movement of the min share price is likley to be negative.Longer term of cause it depends on the speed of developments. I have been very critical of the bod. However this is the most positive announcement we have had from them. Previouse announcements have just been warm words. This time we have three solid announcements. 1) The sale of the travel division appears to be at an advanced stage. 2) They have announced that an experienced advisor is now on board. 3) They have also announced that they had a credible offer to invest in Cs. Of course all this may lead to nothing , however this does represent tangible progress. The Board of Directors Have clearly stated that the share price is currently trading at a big discount to net assets.In the last financial accounts the net asset value is indicated at around 17 pence a share. This figure appears to show the cs project valued at around 43 million pounds in the last accounts. We have consistently believed that cs is worth 100 miillion euros. So if the Bod can pull it off there is clearly substantial upside. Time will tell.
scotty1: hxxps:// Minoan updates (at last!) on sale of Travel division and Cavo Sidero. Buy By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 13 March 2018 No-one could ever accuse AIM-listed Minoan (MIN) of doing anything quickly, but this morning’s announcement appears to suggest that things are finally moving. It is still speculative (both in terms of whether two deals happen, and how long they’ll take) but the shares are a buy. Firstly, on the sale of the Travel and Leisure division, we are told that an exclusivity agreement has now been signed and due diligence is under way. We are also told that the sale (assuming completion) will leave Minoan “substantially” (ie not quite) debt free. But at least we can expect the Hillside loan to be paid off. We are also told that trading has improved, with Q1 gross sales up 15% and commission up 10%. That is good news, and one might hope for a deal to complete in the not too distant future. On the company’s Cavo Sidero project in Crete, where they have had full, final and irrevocable consent since the formal announcement that final appeals had been dismissed back in June of last year, things appear to have taken a significant turn for the better. You have to have had the patience of a saint to see this through – and we are still not there yet! But that is why the shares are as cheap as they are - and that's the opportunity here, for I believe that we are within months of significant news which will turn the company's fortunes on their head. This morning the company announced: The Company has recently received an approach from a credible party which has expressed an interest in acquiring a significant stake in the Project. Discussions are at an early stage and the Company will provide shareholders with an update in due course. Ok, it is at an early stage, but we are told that this is a credible party. We were also told that the potential buyer of the travel division was credible and that looks to be progressing in line (if slowly!) with what we were originally told. So this looks to be a very positive development. What we are not told, sadly, is an order of magnitude for any potential deal. Given that discussions are at an early stage, I guess that Minoan is playing its cards close to its chest. However, this appears to be the sort of deal Minoan was talking about when I chatted with the company at last year’s UK Investor show. The company goes on to say that its share price is currently so low that issuing shares via a placing is just too expensive and that it is in discussions over a small debt fundraising which will keep the lights on whilst we await the above potential sales to materialise. The implication for me is that a sale of a “significant interest” in Cavo Sidero would pay that off and leave the company well funded. Indeed, I would hope for a dividend! We are told that the market capitalisation of Minoan was (before today’s announcement) at a discount of over 70% to the last published NAV of £43 million. That starts to give an idea of what could lie ahead. Minoan’s FY17 numbers are to be published at the end of this month. If the company were in discussions over a deal to sell off a substantial portion of Cavo Sidero at a discount to its book value that would surely have to be noted in the accounts. As such, I would fancy that discussions with this “credible̶1; buyer will be focussing on a price which Minoan’s board will be happy to shout about. That would see the shares move higher, meaning that the 70% discount to NAV should be much reduced, if not eliminated. Minoan has had a long history of diluting shareholders, and today was no exception: we find that 1,293,333 share have been issued at 6p a pop to “meet certain prior obligations” – whatever that means! (Perhaps a prior obligation to keep the lights on?!). But it is only £77,600 worth, so I’m not overly concerned at that. More to the point, it does sound as though Minoan is avoiding dilution ahead of what just might be a major transformation in its prospects. The shares have been sliding in recent months but this morning they are up a decent enough 32% (last seen). If the above deals play out as I expect, there are plenty more days like this ahead. As per my Christmas/New Year tipfest recommendation, the shares are a buy and will be heavily re-rated when the risk of dilution goes away and questions start being asked about dividends instead.
scotty1: 13 March 2018 MINOAN GROUP PLC ("Minoan", the "Group", the "Company") Update Minoan is pleased to provide an update to shareholders in relation to the Group's general strategy and Greece. Travel & Leisure Division An exclusivity agreement has been signed with the preferred buyer of the Travel & Leisure division. The due diligence process has begun and is proceeding according to plan. Under the heads of terms, the sale, when completed, would leave the Group substantially debt free. Meanwhile trading for the Division for the first fiscal quarter is significantly ahead of the same period last year - unaudited First Quarter Gross sales are up 15%, Commission is up 10%, with the difference largely accounted for by a change in sales mix. Greece The Greek property market is finally showing signs of recovery both in the "retail" markets for villas and apartments and in terms of interest in tourism assets where a number of deals are now in progress with prices being achieved substantially ahead of previous expectations. The Company is now focusing on its Crete asset and in this context, an experienced corporate advisor with an understanding of Greece has been appointed to assist in the process. In parallel, additional detailed site studies have been commissioned, these are ongoing and will hasten the progress of the Project and therefore enhance its current value. The Company has recently received an approach from a credible party which has expressed an interest in acquiring a significant stake in the Project. Discussions are at an early stage and the Company will provide shareholders with an update in due course. Results The Group's results for the year ended 31st October 2018 are expected to be published at the end of this month together with any further news on the various matters covered in this announcement. Debt Fundraising At the current share price the market capitalisation of the quoted group is approximately £11.4m which represents a discount of over 70% to the Group's last published net asset value of £43m. As a result the Directors take the view that, where debt finance is available, it is preferable to issuing ordinary shares at current levels. Accordingly the Company is in the process of undertaking a small debt fundraising which will enable it to meet its liabilities until the material and positive developments outlined above are closer to crystalisation. Notwithstanding the above, and in order to meet certain prior obligations, the Company is issuing, subject to admission on AIM, 1,293,333 Ordinary Shares of 1p each at 6p per share. Application has been made for the total of 1,293,333 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 19 March 2018. The new Ordinary Shares are issued under the authorities in existence at the close of Minoan's last Annual General Meeting held on 27 April 2017. Following Admission, there will be a total of 218,516,775 Ordinary Shares in issue.
pj 1: 31/03/2017 "On the assumption that the reports in the Greek media are correct, the next twelve months are likely to be the most value enhancing in the Group's history." Share price COB 31/3/2017 =11.63p Today = 4.75p -59% Mathamatically I think -59% is impossible to be the most value enhancing in the Groups history' taking into account bigger older losses No ''we know of no reason'' RNS or attempts to rectify the share price decline. It really is beyond comprehension.
atlantic57: Scotty whatever the Directors are doing or not doing it is surely obviouse that that They are not anywhere near to concluding a deal with a third party. Information always leaks out . In the not to distant past some have speculated that the share price should be 20 to 25 p. The share price is telling us that clearly that there is zero confidence in the Bod and equally significantly that more dilution is likely.
pj 1: The share price has now declined almost 50% (fifty percent)since the BoD declared ''The Group is poised for what is likely to be the most rewarding period in its history. '' It now means the share price has to rise 100% (i.e. double) to get back to just where it was at the beginning of the ''most rewarding period in its history'' Obviously ''likely'' has now turned to ''unlikely'' Yet most shareholders seem totally apathetic to the situation.
pj 1: 7 Months ago ''The Group is poised for what is likely to be the most rewarding period in its history. '' ''The forthcoming year looks set to be a transformational period for the Group. I would like to thank all our shareholders for their patience and forbearance to date and to reassure them that the Board's overriding objective is The forthcoming year looks set to be a transformational period for the Group. I would like to thank all our shareholders for their patience and forbearance to date and to reassure them that the Board's overriding objective is to achieve maximum value for them. Share price then 8.75p Share price now 5.02p - 43% As a small criticism, shouldn't he have said '' to achieve maximum value for US'' NOT '' achieve maximum value for them''? He obviously sees a disconnect between the Board and shareholders.
scotty1: Minoan – fundraisings and corporate news By Nigel Somerville, the Deputy Sheriff of AIM | Monday 18 December 2017 AIM-listed Minoan (MIN) has followed up last week’s Trading and Financial update (covered by me HERE and by HotstockRockets HERE) with news of two fundraising and corporate news. The tin-rattling first: it has placed out 5 million shares at 6p to raise £300,000, and as I speak W H Ireland is running an accelerated bookbuild to raise up to a further £1 million. Meanwhile, the company says it has received credible approach which may (or may not) lead to the sale of its Travel and Leisure business. (Hooray for Mystic Deputy Sheriff!) In terms of a possible disposal of the travel and leisure operations, that looks very sensible. It may complement the Cavo Sidero development when it is open, but I fancy it is also a big distraction right now. So if it is sold at a good price then I shall be very pleased. We are told that if the sale goes ahead the company will pay off all or most of debt owed to Hillside, which is anticipated to leave the Group largely debt free. Any excess cash after the repayment of debt will be used for working capital. That sounds very positive, although it sounds as though the travel operations are quite so attractive as we might have hoped. On Cavo Sidero, we are told: the Group has been discussing various types of joint venture and other "partnership" style transactions with a number of different parties for some time and this process will be accelerated in 2018. In the meantime the Company is continuing the work necessary for the development of the Project including, inter alia, the various detailed studies required. This process is expected to enhance the value of the Project whilst negotiations with prospective joint venture partners continue. I hope the word accelerated here means that a deal will be signed! I am relaxed about that, but it would be nice one morning to have an RNS announcing a completed deal. And so to the fundraising. The placing - £300,000 – is not much, bearing in mind the market capitalisation of £16 million, but the discount is a bit of a disappointment. Meanwhile the Broker Offer/Bookbuild at the same price offers a further £1 million in the kitty – again, not a disastrous amount. The bookbuild is aimed at professional and other investors, so some of you lucky folks may be able to get in on it if you get your skates on. My own view is that the discount is horribly large. The share price has fallen sharply, but the spread is so wide that subscribers can’t sell out for a profit. It sticks in the craw when only the select few get in on deals like this. Happily, for me, it looks as though I’ve managed to get a piece of the pie so I can’t really complain on my own behalf (although I need to await confirmation), but I feel for others who may feel a bit legged over. But for my part, 6p a pop was irresistible and I expect the shares will duly recover. One might wonder why Minoan didn’t go for an open offer, or a deal via Primary Bid or Teathers. Indeed, one might wonder at the timing of the whole exercise – a fundraising in the week before Christmas seems a tad odd. And that brings me to this: The principal assumption underlying the Company's working capital budget for the current financial year is the disposal of the Travel & Leisure division which the Board anticipates will take place in the first half of the financial year…. OK, hence the possible disposal ….The proceeds will be used to pay down all, or the majority of, group debt resulting in the Company being largely debt free…. Good news, albeit I had hoped for a bit more than paying off the debt. Whilst this will allow the management team to concentrate its efforts on optimising value from the Crete Project on behalf of its shareholders, the disposal of the Travel & Leisure division will also remove the Company's principal source of working capital in the short term. That almost sounds as though the travel and leisure division is expected to be cashflow positive. That would be good news, but it also means no income for the Group if it is sold. As a result, the Company has adopted a stringently conservative approach to the management of its working capital and is streamlining its working capital requirements and cost base so that funds raised from the Subscription and Broker Offer will be sufficient to provide working capital until the end of the financial year ending 30 October 2018. OK, so if the funds all flow in and the sale goes ahead the company is in good shape until next October. But reading between the lines (and the timing) it sounds like they are in a hurry to raise the cash. Perhaps the sale of the travel and leisure business has come out of the blue and they want to get on with it. During this period the Company may seek third party finance by way of involving other parties in the Crete project. That sounds very interesting to me, and sounds like we are looking at putting some valuation of substance on Cavo Sidero. We are also told that should the Broker Offer/Bookbuild fail to raise the desired amount then the company will have to seek other financing. They’ve done it before so its not really a concern, although obviously it would be better if the company raised the cash its needs now. Overall, then, this looks a good update and gives a good few hints of what is in store. As for the bookbuild, my thinking is that the discount is highly attractive (which why I’ve gone for it). It may not be a Christmas present yet, but if I read today’s news correctly I would imagine a decent uplift in the early months of the new year. I expect that a simplified and de-geared Minoan will be much more attractive - especially if/when deals to buy in to Cavo Sidero are announced.
atlantic57: wi1l There is no need for deep analysis here ! As has been stated repeatedly by numerous posters the min share price will be rerated when the the project is monetarised. Until that day comes we can all speculate , the speculation ends when a willing buyer puts some money down.
Minoan share price data is direct from the London Stock Exchange
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