Minoan Share Price (MIN)

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
	+0.15p	+2.10%	7.30p	341,030	16:15:53
Bid Price		Offer Price	High Price	Low Price	Open Price
7.00p		7.60p	7.75p	7.15p	7.15p

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Travel & Leisure	0.0	-2.5	-1.2	-	15.95

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Minoan (MIN) Latest News

Minoan News

Date	Time	Source	Headline
06/4/2018	11:29	ALNC	Minoan 2017 Loss Widens Despite Finance Costs Fall As Restructures
06/4/2018	07:07	ALNC	*Minoan FY Gross Profit T&L Up 18% YoY To GBP8,3M Vs GBP7M
06/4/2018	07:00	UKREG	Minoan Group PLC Preliminary Results for Year Ended 31 October 2017
06/4/2018	07:00	UKREG	Minoan Group PLC Notice of Annual General Meeting
13/3/2018	14:11	UKREG	Minoan Group PLC Update - Amended
13/3/2018	10:58	ALNC	Minoan Signs Exclusivity Deal For Sale Of Travel & Leisure Arm (ALLISS)
13/3/2018	07:00	UKREG	Minoan Group PLC Update
04/1/2018	12:08	ALNC	Minoan Group Shareholder In Ups Interest To 7.3% (ALLISS)
04/1/2018	07:00	UKREG	Minoan Group PLC Significant Shareholding
29/12/2017	07:00	UKREG	Minoan Group PLC Option Expiry Dates

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Minoan Forums and Chat

Date	Time	Title	Posts
23/4/2018	11:12	Minoan Group- Travel and Leisure Company	10,030
20/3/2018	09:30	Minoan Group	20
29/6/2017	22:56	Minoan Group - with charts	152
20/5/2017	08:05	Minoan Group	-
28/2/2016	21:52	Minoan Group Leisure Resort Developer	3,241

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Minoan (MIN) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
15:33:56	7.50	60,000	4,500.00	O
15:33:54	7.50	60,000	4,500.00	O
14:44:45	7.10	3,000	213.00	O
13:14:56	7.25	39,000	2,827.58	O
10:09:35	7.50	4,000	300.00	O

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Minoan (MIN) Top Chat Posts

Date	Subject
23/4/2018 09:20	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 7.15p. Minoan has a 4 week average price of 5.50p and a 12 week average price of 4.75p. The 1 year high share price is 11.38p while the 1 year low share price is currently 4.75p. There are currently 218,516,775 shares in issue and the average daily traded volume is 454,176 shares. The market capitalisation of Minoan is £15,951,724.58. Read Full Thread Reply
07/4/2018 10:13	wi1l: The share price should increase IMHO as the bod complete on the following: The disposal of the T&L business - this will be the start of renewed interest in MIN. Paying off the debts especially the Hillside loan will also be a major positive. The first major investor in the site.(bear in mind too that currently there is increasing value for the site as well as its future development). The first joint venture partnership agreement for the development of the CS project. Subsequent partners coming on board as the project gathers pace. All very exciting - positive newsflow should be coming thick & fast. Buying interest should build from here on in resulting in a share price more reflective of the current and improving situation. Read Full Thread Follow Reply
06/4/2018 12:05	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. Read Full Thread Follow Reply
02/4/2018 12:37	wi1l: Yes, I suppose the negotiations are at a delicate & confidential stage at this moment. But somehow the bod need to persuade the market of the true value of the CS project which they have stated in the accounts on a number of occasions to be £100M. And that was BEFORE the planning was granted therefore to my mind it crystalises any gain and the planning decision should just enhance the value. £100M equates to a share price of about 40p whereas we are languishing with a hope and promise at just 6p. Maybe its too early but by letting the market know a few more details as to what this investor is willing to pay for what % of the project and if good and the market understands its good the share price should get a bit more of a move-on in an upwards direction! I should think the bod are pretty frustrated as to why its not done so already but you could probably put that down to the age its taken to get to this stage. Read Full Thread Follow Reply
16/3/2018 11:18	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. Read Full Thread Follow Reply
15/3/2018 13:31	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. Read Full Thread Follow Reply
13/3/2018 11:57	scotty1: hxxps://www.shareprophets.com/views/34853/minoan-updates-at-last-on-sale-of-travel-division-and-cavo-sidero-buy 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. Read Full Thread Follow Reply
13/3/2018 07:02	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. Read Full Thread Follow Reply
20/2/2018 22:17	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. Read Full Thread Follow Reply
18/12/2017 13:41	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. Read Full Thread Follow Reply
14/8/2017 15:31	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. Read Full Thread Follow Reply

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