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 Shares Traded Last Trade
  0.00 0.0% 1.90 25,000 07:43:20
Bid Price Offer Price High Price Low Price Open Price
1.70 2.10 1.90 1.90 1.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure -3.02 -1.36 8
Last Trade Time Trade Type Trade Size Trade Price Currency
15:54:22 O 25,000 1.72 GBX

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Date Time Title Posts
18/10/201910:26Minoan Group- Travel and Leisure Company13,255
11/10/201919:39Minoan-Time for action.1,743
20/3/201809:30Minoan Group20
29/6/201722:56Minoan Group - with charts152

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Minoan Daily Update: Minoan Group Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker MIN. The last closing price for Minoan was 1.90p.
Minoan Group Plc has a 4 week average price of 1.80p and a 12 week average price of 1.70p.
The 1 year high share price is 3.55p while the 1 year low share price is currently 1.70p.
There are currently 419,280,447 shares in issue and the average daily traded volume is 114,694 shares. The market capitalisation of Minoan Group Plc is £7,966,328.49.
pj 1: 30/7/2013 The coming year promises to be the most significant and transformational in the Group’s history.” Share price approx. 6.2p 1/4/2014 look forward to reporting to shareholders on further significant progress in all areas of the Group’s business over the next twelve months 10.2p 31/7/14 I look forward to reporting to shareholders on further significant progress in all areas of the Group’s business in the next few months. 11.9p 30/3/15 The coming months promise to be very exciting for the Group, 12.9p 31/7/15 I expect to be able to update shareholders with positive news. 9.8p 30/3/16 The next year is destined to be the most exciting and fruitful for the Group, its shareholders, Directors and staff and I look forward to making further announcements in the future. 8.8p 14/7/16 whilst there are momentous events over which we have no control, we have never been closer to fulfilling our substantial potential. 7.1p 31/3/17 The next year is destined to be the most value enhancing in the Group’s history and I look forward to making further announcements in the future. 11.6p 26/7/17 The forthcoming year looks set to be a transformational period for the Group 8.9p 14/12/17 the Board has carried out a review of the Group's operations and it believes that we are now entering a period that will be key to delivering shareholder value 7.2p
grannyboy: grannyboy 20Aug'19 - 12:19 - 13052 of 13161 I have looked at a number of these kinds of operations over the years, and not many have ever paid off... a lot are just lifestyle operations for the directors ... Investing in companies like MIN results in dead money, not only does it take years to get approvals and partners, it takes an age and a day to sell the properties especially if any are residential. Why anyone would continually put good money after bad is bewildering. =============*==============*=========== Right after I posted that the share price spiked up, which obviously, must just have been co-incidental .. But it's reverted back to true form, with the share price once again heading back down to 'nothing happening here for a long, long time, just what the BOD are happy with territory' ... 🐢🐢🐢 And my thoughts in post 13052 is still relevant today as it was back then..
pj 1: So far this year I have been in one Company that has entered administration, where a Director hid behind untruths. I am also in APC who's BoD have today accepted a cheap offer at a miserly 9% premium to the closing share price. It is obvious they will benefit financially with increased awards, and share the long awaited returns from a turnaround with the purchaser. To that end, it has crossed my mind a number of times that CE knows what value he can get for Minoan and the Project. He has for years, but his sole intention has been to maximise his remuneration for as long as possible, whilst possibly claiming travelling expenses for himself and possibly family across Europe, at shareholders expense. We will probably never know if that is true or not, but at least keep an open mind. AIM really is not fit for purpose anymore. All in my opinion only
atlantic57: Waterloo Minoan is a fascinating case ! Normally given the fact that the major shareholders backed this and some at higher prices than the placing ,you would normally expect the insider buying would send the share price sharply higher. However here unusually the share price has fallen sharply from the placing price. We are all clinging to the lifeboat Minoan in the hope that the ss Egleton will steam Over the horizon imminently announcing a cracking deal . We shall see.
scotty1: Minoan – fundraising at a massive premium to recent share price, Buy BY HOTSTOCKROCKETS Updating on Minoan (MIN) with the shares at 1.9p earlier this month, we noted that, although the track-record suggests to be cautious and there may well be some further equity dilution to come, the potential for the shares to soar on a Crete project deal meant we continued to consider they merited at least a small, speculative position. Now “a proposal which the directors believe will provide the company with sufficient liquidity to service its short term cash obligations and to strengthen its balance sheet… believe… will greatly assist the group in its ongoing discussions and negotiations with third parties”… 25 minutes ago You need a subscription to read all
pj 1: My understanding and thoughts of where we roughly are :- Prospective partners/purchasers contact Minoan. Minoan can now RNS that they are in ''discussions''. These discussions can take place on an ad hoc basis or be more structured. However, this gives an issue as these discussions cannot include any terms or £'s in an RNS as nothing can be checked under DD by the NOMAD, who will refuse to sign it off. Hence why there is currently little Minoan can do to communicate positive developments to uplift the current share price. Therefore following that, a perceived lack of progress, right or wrong, is contributing to selling rather than buying, coupled with general market uncertainty. The ''sale'' of T&L as a related party transaction has added to the mistrust, although the share price had been in decline way before this. Hopefully at some point in the (near)future these ''discussions'' will turn to ''negotiations'' or even ''bidding''. Negotiations have things put in writing and include legal advice and documents, which then can be checked (DD) by the Nomad and can therefore be included in an RNS if the Company so wishes, although often ''non disclosure'' can apply. In that circumstance Minoan would have to find another acceptable way to update the market as to not jeopardise any future negotiations. So, assuming we are somewhere (hopefully) between discussions and negotiations we now have a chicken or the egg syndrome. Is the low market cap preventing negotiations as any prospective bidder reverts to the multiple Minoan want (bearing in mind any prospective purchaser may have to justify this to their own shareholders)or is the lack of negotiations resulting in the low market cap? Off course we should not ignore that Minoan could well be in negotiations, although I do doubt this, but have decided for whatever reason not to RNS. I also note previously that Minoan did RNS and include the word ''negotiation'' at the beginning of the RNS, and then reverted back to solely discussions later in the RNS and to the future. Is this an indication some ''negotiations'' failed to attract a reasonable offer or partnership, hence the selling and low share price? These are my thoughts alone. No doubt I have not got it 100% correct, but I think the main theme of the post is probably not far from where we are, unless Minoan have taken the decision to not RNS and keep us in the dark with the low share price, which I really doubt, or that ''discussions'' are nothing more than enquiring phone calls, again very doubtful but not impossible.
wi1l: FWIW would suggest that the drop in share price over last four months could be due possibly in part to the dwindling volumes rather than any sell-off. Aug B7.3M S5.3M share price ended up 5.3/5.8 Sept B5.7M S6.9M share price ended up 3.1/3.5 Oct B5.6M S5.4M share price ended up 2.75/3.0 Nov (so far) B2.2M S3.1M share price ended up 2.2/2.4 About level buys v sells but the share price has more than halved!
scotty1: Minoan – FY17 results (a week late…) By Nigel Somerville, the Deputy Sheriff of AIM | Friday 6 April 2018 AIM-listed Minoan (MIN) is one of my two share suggestions for 2018, and I hold the shares myself. This morning it released its FY results to last October: we had been promised them in March, but clearly the concept of under-promising and over-delivering simply hasn’t landed in this particular boardroom. However, there seems to be progress and although still promising jam-tomorrow, it does look as though the fleet of delivery lorries may be on the way (although from an unknown distance away). Of course, the company told us last July that the next 12 months would be the most rewarding. Now we are told that we are in the most rewarding period and that 2018 will see major developments. So six months’ slippage there? I know that things move slowly in Greece, but surely on simple corporate matters such as the release of accounts the board could give itself a timetable that it can meet? The chairman, Christopher Egleton, tells us that the company’s share price has not fully reflected the achievement of consent with regard to Cavo Sidero. I’m sure he is right, but the sense of perpetual non-delivery isn’t exactly helped when the company released its results a week later than it told us just a few weeks ago! That said, it is – in my view – quite apparent that the delayed release of results was because the board wanted to announce the sale of the travel and leisure business. It hung around for a week, and from today’s statements it is quite clear that they are very close to finalising the sale. But it hasn’t happened yet. We are, again, given to understand that the sale – when finally completed – will leave Minoan “substantially debt free” – a phrase used four times, in case we missed it the first three times! The chairman hopes to report on this “in the near future”, the announcement of which will mark a significant point for the company: no debt and full focus on Cavo Sidero. Good. As for Cavo Sidero, I was hoping for an update on the approach from a “credible party” which was interested in acquiring a significant stake in the project, as reported on 13 March. Today we are given nothing on that beyond “pending the conclusion of JV or partnership arrangements with prospective partners and/or investors. Of course, that phrase can be read either way but I would have liked an update on the “credible̶1; party. Perhaps it was an oversight? However, we are told that it is likely that “one or more of the partners will be making significant financial contributions”. Is that to Minoan, or to the Cavo Sidero project? We are told that “the application of those contributions insofar as creating the optimum value for shareholders will be foremost in the Board’s consideration”. That’s a bit unclear, but given what the company was telling me at last year’s UKI show, I would hope that it will involve some cash coming in to the company and that the company will pay up a dividend. That would send the strongest message possible to the market. There is plenty of optimism regarding the Greek property market: banks are finally making a dent in sorting out their balance sheets and prices are rising. Good. We are also reminded that the last opinion of value for Cavo Sidero was around EUR100 million. I guess being told that prices are rising is good news, then, but that EUR100 million was back in 2011 and the Greek economy has been through the most almighty calamity since then. So although prices are rising, I doubt the value of Cavo Sidero has risen to over EUR100 million! Even so, assuming the completion of the travel and leisure business, Minoan has a market capitalisation of just £13 million. A stripped down and fully focused on Cavo Sidero company with no debt is surely worth several multiples of that. Is four times overly optimistic? I fancy not, so even with boat-loads of options/warrants etc I see huge upside from the current 6p. As to the numbers themselves, they are largely irrelevant in that the company should have a clean slate in the near future. Indeed, we are told that once the sale of T&L goes through we are to expect a number of changes to the management structure of the Group, and that the focus will be on keeping costs to a minimum while we await the flow of cash from Cavo Sidero. We are also told that once T&L is sold there will be an immediate focus of clearing all other debts and, to this end, discussions with investors and potential partners will be accelerated. My conclusion: PR blunders aside, this is very promising. From what we have been told it sounds as though there are partners in the wings but the effort has been on the sale of T&L so that the board knows where it stands with regard to cash (or lack of it!) My expectation would be, once the sale finally goes through, that some minor deals will be signed to give the company the cash it needs going forward and then from that stronger position, to do the bigger deals which appear to be on the table. The current share price weakness looks to be an opportunity to buy in to an asset worth a multiple of that very cheaply indeed, and whilst Minoan has a habit of not delivering on time, it will surely do enough in the remainder of this year to offer rewards to shareholders. I would hope that will include a dividend. I continue to be patient here, but I do wish that the board would temper promises in relation to realistic and timely delivery. But for the avoidance of doubt, at 6p offer, this is still a buy albeit speculative. As and when the sale of T&L is announced, that will be upgraded to a strong buy. I sense that we are nearly there now.
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.
Minoan share price data is direct from the London Stock Exchange
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