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MIN Minoan Group Plc

-0.025 (-3.7%)
30 Nov 2023 - 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 Shares Traded Last Trade
  -0.025 -3.7% 0.65 356,468 12:10:03
Bid Price Offer Price High Price Low Price Open Price
0.60 0.70 0.675 0.65 0.675
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hotels And Motels -1.07M -0.0013 -5.00 5.34M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:15:23 O 27,037 0.6125 GBX

Minoan (MIN) Latest News

Minoan (MIN) Discussions and Chat

Minoan Forums and Chat

Date Time Title Posts
01/12/202300:58Minoan Group- Travel and Leisure Company25,665
30/11/202321:47Minoan-Time for action.3,821
27/11/202310:46MIN - on the precipice 211
21/2/202311:39Minoan goal1
10/2/202109:05Bought some today38

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Minoan (MIN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-30 16:15:250.6127,037165.60O
2023-11-30 15:00:430.6545,384295.00O
2023-11-30 12:09:590.65120,000780.00O
2023-11-30 09:07:100.6575,000487.50O
2023-11-30 08:59:570.6789,047600.00O

Minoan (MIN) Top Chat Posts

Top Posts
Posted at 30/11/2023 08:20 by Minoan Daily Update
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 0.68p.
Minoan currently has 822,091,319 shares in issue. The market capitalisation of Minoan is £5,343,594.
Minoan has a price to earnings ratio (PE ratio) of -5.00.
This morning MIN shares opened at 0.68p
Posted at 16/11/2023 14:27 by yorgi
In my post earlier today where I commented on how undervalued Minoan is at the present market cap £5M. That is not just my opinion and the opinion of other shareholders who see the potential, the value of the project but understand what is being worked on by the BOD and understand the situation well. Those that attended the meeting last week and those that have read the reports by those who attended will have a far better understanding than they did a week ago I'm quite sure.

So whilst disappointed that we are not further on at this time but with all I have taken in from last weeks meeting I do believe we will get there and with it a more realistic valuation for MIN.

MIN being significantly undervalued is not just mine and other shareholders opinion but supported by Deloitte Financial Consultants. So who is a better source and believable Deloitte Financial Consultants or trolls that spend so much time trying to convince others the company is worth nothing.

From Equity Development Report 2 June 2023 :

Financial update
The key message within the recent results (for the 12 months to end October 2022) was reiteration that Minoan’s core vision for Cavo Sidero has now crystallised, which gives it a more certain, clearer route to capture the substantial value in the scheme.
The project is currently at the pre-development stage and provides the group with no sources of revenue. The reported £1.07m pre-tax loss for the year to end October 2022 (FY21: £0.75m) reflects a step up in operating costs at £0.54m (FY21: £0.51m), and higher finance costs of £0.52m (£0.24m). Minoan has received terms to renew the debt and expects to enter into a new agreement.
Net assets at end October 2022 were £42.4m and capitalised project costs (inventories), including acquisition and site development and design costs were £47.4m (FY21: £46.8m). The year-end statement provided an outline timeline and key numbers from the Business Plan prepared, in coordination with Deloitte Financial Consultants:

Link in the Header
Posted at 16/11/2023 09:47 by yorgi
I know Minoan can’t be compared in any way to Hotel Chocolat other than being on AIM. The AIM market had clearly been undervaluing the company with the usual trolls all over the BB discrediting the company and the usual negativity. Today announced a subsidiary of Mars has made a cash offer of 169% above yesterday’s share price

Although great news for shareholders it is a great pity another British company being taken over by a US giant.

Getting back to MIN it shows just how badly the AIM market is valuing some of its listings as Hotel Chocolat has not been the only such example recently.

I’m not the only poster here who understands just how undervalued MIN is.
Posted at 15/11/2023 16:28 by atlantic57
Mudbath we are now in a very simple and easy to understand situation.

If Minoan can get :

A) The foundation to sign off .
B) Get Gilbert appointed to the board

We will make rapid progress upwards with the share price.

If we only get A or B I would expert a positive reaction.

However let us be crystal clear without a or b the share price is only going one way and it is not up.

I would also add that talk about how many shares are in issue is pointless,until the asset is monetarised there is no way of knowing how many shares will be in existence at the time the asset is monetarised.

Similarly the discount to net asset value is difficult to quantify in the absence of a deal with a third party.
Posted at 15/11/2023 14:18 by mudbath
The reason that some are excluded from yorgi's thread is that they are realists who happen to have called the ongoing and significant fall in the MIN share price correctly and over an extended period.
Many bullish investors have however proved gullible to the regular yet unjustified "progress imminent" assurances; therefore remaining susceptible to incurring yet further losses.

Hopefully, some positive news will soon be forthcoming, whereupon this particular "bear" will be only too happy to eat humble pie.
Posted at 12/11/2023 12:54 by nick2412
Thanks for such a comprehensive review Waterloo and your addition nobby. There is a heck of a lot in there that is very encouraging on several fronts.

The two separate bits of commercial interest are also very interesting and potentially transformational but, it seems very clear, that everything follows from a revised Foundation agreement and also the prospect of Epifania being granted (extended lease to 99 years).

Whether a private estate within an estate would prefer to wait until Epifania is granted I don't know. My understanding is this is also dependent on Govt approval and in contrast to the slow movement of the Foundation there is substantial political will in Greece to see the delivery of luxury projects such as MIN's. In Greece it's never advisable to say anything is a given but I'd be shocked if Epifania isn't granted in the context of the Greek political will to see projects like MIN's succeed.

Christopher Egleton is fully aware that they haven't delivered and therefore for share price revival they have to deliver. Warm words of optimism won't work now. The absence of credibility from not delivering for some time means the market (especially in the context of the broader small-cap bear market)means serious uplifts will only come from delivery rather than promising prospects being flagged up by the Company.

A key point for me is Martin Gilbert's continued support via DAGG. He will not want to be involved with something that blemishes his impressive business lifetime CV. That factor does add credibility. It's been a long wait but there are signs that long-suffering shareholders could still get decent returns. There is no way he would have agreed to see conversion at par if there wasn't the prospect of significant returns in a reasonable timeframe.

There's an element of thinking that because things haven't been delivered for so many years that trend will continue but as Waterloo's post highlights, there are credible reasons to modify that understandable scepticism. Tucked away in a drawer for me for now but there is realistic hope it will be opened with a decent return without too much dust gathered. Things always take a bit longer with MIN and Greece but I think there will be rapid movement once the Foundation Agreement gets updated. It looks that straightforward.
Posted at 05/11/2023 23:29 by ny boy
Pizza off peachie with your bitter rants take them up with the management of MIN, they are the ones responsible for your gains or losses as a shareholder. Nothing I say will change the direction of the share price here. Sorry to disappoint you but many of us don’t share your optimism/hope about where this Company is going or been doing over the decades, you had me filtered so stick with that but last time I checked we were living in a country with freedom of speech.


How many of these luxury brands you mention are in Crete, maybe Rosewood with their revamp of Blue Palace in Elounda by the beach. Never heard of any others in Crete itself?

MO,Six Senses,Four Seasons, One & Only have all opened luxury resorts on the Athens Riviera around 30 mins from Athens Int Airport. It’s all about prime locations near major airport and large conurbation of Athens.

Auberge are in Santorini from memory.

My whole argument is Toplou area is remote, how far is your nearest major supermarket or top restaurants (not resort restaurants),all at least 15/25min drive, the infrastructure costs will be huge imo

Location is always key, luxury brands rarely go remote, they don’t need to, probably the main reason why MIN haven’t got anywhere with a major operator, the big brands tend to follow each other ie. Athens Riviera/ Peloponnese prime coastal areas with quality beaches.

Anyway best wait for the next rns due Fri 10 Nov GL!
Posted at 24/10/2023 15:56 by kumbuka
That is so funny stupid mudbath but what would anyone expect from someone with a pea brain.

MIN share price has been falling constantly, no buying and you follow yogi bear and nobby gerbil 🤣🤣🤣🤣 9315;🤣ԍ15;

Even you might learn something from them but with pea brain not sure how much

🤣🤣🤣🤣 9315;🤣
Posted at 28/9/2023 20:30 by nick2412
If we go back to June 2022 we can see what the Company needs to transform its fortunes and that of shareholders - it's the lease extension to 99 years or, to term it correctly, Epifania:-

"The Company’s frequent meetings with the Foundation covering the key legal, technical and economic aspects of the Project, have revealed that the new law on Epifania (the equivalent of a long term ground lease in English law) best serves the interests of both parties and, therefore, is the preferred option to enable development of the Project. The use of Epifania would be in line with the most advantageous of the Business Plans referred to in Minoan’s Preliminary Results Announcement of 28 April 2022."

It's now over a year of what must have been torturous negotiations. It's my belief they will get a deal because as the rns last year said it "best serves the interests of both parties." From the Foundation perspective, a longer lease gives them significant income for a longer duration and no doubt other benefits as well.

I am optimistic one will finally be done simply because it is a "win,win" arrangement but it has certainly tested the patience of investors since this was first referenced over a year ago. We have a very depressed share price now but the shares will fly if the elusive deal materialises. Just to quote from the April results statement rns we can see why. It unlocks so many benefits and financial sources for commercialisation as the results statement highlighted this year:-:-

"It is important to see Greece and the Project in the context of the Greek and International markets, where the market for top-end resorts and villas remain buoyant with room rates having increased significantly above inflation. Further, there are various incentive and loan packages that are being offered by the Greek Government combined with the EU"

If the deal is done then it paves the way for significant commercial partnerships or perhaps even a sale of the project at a multiple of the current share price around nav levels. The political climate is encouraging these types of luxury developments so everything is in place for a successful development aside from Epifania being implemented. Things, as I have learned, take a long time in Greece but given the deal is beneficial to both parties then it's a case of patience is likely to be well rewarded ... eventually!
Posted at 25/9/2023 17:57 by ny boy
Well whilst we wait for the next rns with much enthusiasm, here’s a short selection of classics over decade🤔

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

It’s not difficult to understand why the share price is currently languishing at near all time lows.
Posted at 06/9/2023 10:56 by mudbath

What form do you envisage that "escape route" taking ?
In my experience of AIM companies, most such provisions have been severely unpalatable to the private investor; generally with the option of either accepting a derisory offer or of following the company off market.

Is it a sign that stark realisation is now dawning over on yorgi's thread, where the residual posters are now expressing opinions that would have been swiftly moderated only a few months ago.

As a result of the interminable time that continues to elapse without the PI being informed of any documented progress, there remains precious little comment upon.
That is unless there is an uptick in the MIN share price which naturally provides an opportunity for holders to reenergize and repeat known positives.
Minoan share price data is direct from the London Stock Exchange

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