Share Name Share Symbol Market Type Share ISIN Share Description
Minoan 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
  -0.10p -1.87% 5.25p 5.00p 5.50p 5.35p 5.25p 5.35p 197,127 15:49:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 7.3 -2.3 -1.2 - 11.40

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Date Time Title Posts
19/2/201817:19Minoan Group- Travel and Leisure Company9,642
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 5.35p.
Minoan has a 4 week average price of 5.10p and a 12 week average price of 5.10p.
The 1 year high share price is 12.63p while the 1 year low share price is currently 5.10p.
There are currently 217,223,442 shares in issue and the average daily traded volume is 143,355 shares. The market capitalisation of Minoan is £11,404,230.71.
pj 1: 26/7/17 share price 8.8p ''" the Group is about to enter the most rewarding period in its history." Dec 2017 failed Broker offer at 6p Dec 2017 Indicitive offer for the Travel business Funding- I will update in the new year Share price today 5.3p and heading for 5 year lows of 4.3p from 2013. (-40% from entering its most rewarding period) I assume that as this '' the most rewarding period in its history'' that the BoD's are SHORT of the stock?
atlantic57: Minoan Group Plc has today been notified that Mr M Dvorkin and Mrs L Dvorkin together are the beneficial holders of a total of 12,527,327 ordinary shares of 1p each ("Ordinary Shares") in the Company, which represents 5.90% of the total 212,223,442 Ordinary Shares currently in issue. If you are the shareholders above i would be very worried about my investment. Yes in the real world there are 101 problems to deal with to sign a deal.However you are judged by results not almost getting a deal. The share price is now standing at the price it was when the appeals had not been dismissed.There are endless placings. The board have failed to announce any meaningful plans. For Private investors contacting the Company is waste of time. So we are in a pitch black room with bod that refuse to update the market in a meaningful way.
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.
scotty1: And here are some replies to the NS update 3 days ago. Nigel Somerville • 2 days ago My guess is the RNS was to announce the extended loan, and the rest is a few sweeties from the tin. As regards Cavo Sidero, they can't announce a deal until they have one so I reckon that's why they are stum on that, beyond offering the prospect of shareholder value. I would imagine there would have to be something to convince the Nomad to allow that statement. D_Stone • 3 days ago For ever the optimist. Alas I'm more inclined to be cynical given the total absence of financial data. Given the length of time awaiting the decree one would have assumed that the commercialisation discussions would have advanced substantially during the lull period. No doubt you will convey that this is Greece and hence a justification for the delay. wildrides • 3 days ago The Elephant in the room regarding this RNS is the total lack of mention of the Cavo Sidero project . I just dont know what to make of that at all . The strange timing of the RNS ( which they have previous for ) is one thing .......but not to mention anything about the thing that most holders want info about is an enigma . What were they thinking ? I can only conclude that there is a total lack of interest from anyone In developing the site at the current time with the economic background of the country and Europe in downturn. This would account for the share price declining over time rather than rising as apparent good news became closer . In other words .......the price tells us everything ie No progress for several years is likely .
scotty1: wi heres the piece bear in mind it's been a tip from 2013 on HSR and by TW some yrs before it's not a recommendation but an update. An intra-day announcement on the like of “Update - Trading & Financing” is usually not good, but a 1:41PM Friday such announcement from Minoan Group (MIN) is of its travel and leisure division having “continued its growth trajectory” and a loan facility extension. On the former, the company reports year ended 31st October gross sales 18% ahead of the previous year and currently continuingly robust trading conditions, with November gross sales up by 16% against the same period last year. On the latter, a loan of £6.3 million has been extended to 30th June 2018 with a 10% interest rate. This follows half-year results having shown a £0.85 million cash outflow and cash of £0.09 million and receivables of £2.95 million against liabilities of £14.08 million. This is clearly a far from ideal balance sheet position but the company has proven itself able to access funding as required and the key now is that it “has an un-appealable Presidential Decree giving outline planning consent for its project in Crete”. Chairman Christopher Egleton then states “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”. Indeed. What happens with the travel and leisure business will be interesting, but particularly we continue to believe deals on the Crete project will show a valuation far in excess of the current enterprise value here – at a current 7.25p share price, the market cap £15.4 million. Yet more patience is required – but we continue to believe it will be rewarded and the stance remains BUY.
gerhart: I think those of us who have been around a while – some a lot longer than me are – justifiably? - VERY disappointed in the BoD, that we have not seen more juicy info on the Crete situation pre-Christmas. However, putting on my very positive hat, on Thursday the company confirmed that sales are healthy – even robust. There are also no problems with banking/loan issues, nor probably any financing issues. So for newbies, the company has confirmed it’s in good health, and also hinted that some of the “transformational” news we are waiting on may not be far off. Meanwhile the share price is in my opinion, well most long-termer’s opinion I think, very cheap. So the question newbies, and others, might be toying with: is this a very good time/opportunity to buy shares in MIN, or a very risky/bad time to buy? Well call me biased, but I don’t think you need to be Albert Einstein to get that one right, do you?
philby1: Okay, my previous comment has been moderated so let's try again; I am unhappy with the lack of any recent updates and the continued slide in the share price. On 26 July 2017 - Christopher Egleton, Minoan Chairman, said in the RNS: "Following the dismissal of the Appeals against the Presidential Decree granting Outline Planning Consent for its Project in Crete, and the continued increase in the profitability of its travel business, the Group is about to enter the most rewarding period in its history." Since then nothing! So come on BOD it's high time your long suffering shareholders heard something from you about 'this most rewarding period in Minoans history.'
gerhart: I forgot to share a recent my dream/idea guys: To start a "crowd funding" page for a Ltd holding Co in order to raise enough money to buy enough shares in MIN to take a controlling stake. The sole purpose is to take Temp control and auction off the project. This way we of course get a very nice premium, quite possibly from someone who wants the whole thing, which BOD may not be currently offering as an option. I guess the travel biz to, or maybe let the management Re-manage that again on behalf of shareholders, if they want. Money from the sale of the project is returned as special Divi to the shareholders of the holding company via the shares held in proportion to money stumped up (and of course to all other normal MIN share holders also) Min shares then still being held by the holding company are also sold as a block to interested party, or ongoing into the market. Money again returned to Ltd holding company. We finally get a nice return for our wee gem and no more faffing around. Who is up for starting the crowd funding page?
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.
gerhart: Another perspective on value, especially for any sitting on side-lines unconvinced, is a report by Equity Development ( from April 2016. It suggests value for Min short/Med/long term... worth 21p or is it 41p or is it 61p?!!! If you register at and type in Minoan, then you will find it. Or you might be able to access it easier via our friends and chief PR/promoters at SPs. Type in Min on the epic code and it brings up articles on Min and scroll down to the 5th April 2016. I think this was a company-paid-for report but very detailed and logically set out. Whatever you think, 9.75 approx is not the fair share price!
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