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Minoan – Half-Year Results: Progress As The Company Edges Towards A Deal

The half-year results to April 2022 for AIM-listed holiday resort in Crete outfit Minoan (MIN) were released on Friday, at 1.55pm – just as the City, having tucked into a nice Friday lunch, was settling down to enjoy the Commonwealth Games. In other words it was no-one-is-watching o’clock – the offence compounded by it being deadline day too. Not a great start!

EPIC MIN
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Minoan – Company Update: Light At The End Of The Tunnel? Not yet, it seems!

AIM-listed holiday resort developer in Crete Minoan (MIN) announced a company update yesterday. There was news from the boardroom and some positive noises from the Cavo Sidero project in Crete as well as some developments with regard to Greek law which the company the company thinks will have a positive impact. So is there light at the end of the tunnel?

EPIC MIN
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Minoan – Placing, Interims.....and Progress? Maybe!

AIM-listed Cretan holiday resort developer Minoan (MIN) released interims numbers to 30 April yesterday morning. Today we have a placing raising £350,000 in cash (before expenses) and a further £99,600 in lieu of certain liabilities. The matters of interest, of course, are not the numbers but progress with regard to monetising its assets at Cavo Sidero. Has there been any movement?

EPIC MIN
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Minoan FY20 Results: Still holding for a deal but still confident of one as the pain mounts

AIM-listed holiday resort in Crete outfit Minoan (MIN) released its FY20 results to October 2020 on Friday – deadline day – and the news is that whilst losses have dropped and the company’s debt has eased a little, the sunlit uplands of monetising its asset in Crete is still not in view. Hardly a surprise, I suppose, but it is still disappointing to have to continue waiting for an eternity.

EPIC MIN
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Minoan – brief update and placing: Are we nearly there, yet?

AIM-listed holiday resort developer in Crete Minoan (MIN) updated the market this morning….and announced yet another placing, albeit for a small amount, £187,000 (courtesy of Peterhouse) at 1.1p per share and a small debt-for-equity swap worth £70,000 also at 1.1p, with one warrant for two new shares taken at 1.4p. But it is the update which offers a little bit of hope here.

EPIC MIN
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Minoan – refinancing, still a risk/reward buy?...

Minoan (MIN) “is pleased to announce the successful reorganisation of its only secured borrowings, the cancellation of warrants and rights to future warrants and a small pre funded placing to provide further working capital”...

EPIC MIN
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Minoan – refinancing: expensive but a massive improvement

AIM-listed Greek resort outfit Minoan (MIN) has released news this morning of the refinancing of its pre-existing debt which used to be held by Hillside. The old lenders have gone and, mercifully, so have the stranglehold terms that came with the deal and in comes a new lender in the form of a outfit called DAGG LLP. The cost has been high, but the end result makes this well worth it.

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