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Minoan – End Of The Road Or Can A Rabbit Be Pulled? I've been long and wrong!

By Nigel Somerville | Friday 4 April 2025


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM-listed Minoan (MIN) announced a pretty dreadful RNS this morning, detailing how its secured lender, DAGG LLP, has refused to extend the loan and is now demanding approx. £1.2 million in settlement. It has also declared a default meaning that the interest rate rises from 10% a year to 22%. Minoan hasn’t the cash and warns that it won’t be able to release audited results (presumably because it is out of cash and DAGG wants £1.2 million) so the shares will be suspended from 1st May – or before, if measures to protect stakeholders are needed (ie administration). So what now?
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