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Well there is Vai beach which is a large safe and very popular sandy beach right in the middle of the plot of land Charles2.
View enclosed shows the area that it covers:
https://youtu.be/DO4FP_h9qYQ?si=wYTiBazbckQpkpx-
https://youtu.be/tM54mIDvIJI?si=ChZJwkZOSfqoSR_s
This area of outstanding beauty you refer to it looks mostly like undeveloped hilly or mountainous, no where near any high quality beaches. Surely the reason why it remains under developed, maybe prospective purchasers have looked over the years and decided it could be problematic and building costs due to the terrain extremely expensive, where are the clean water supplies for some a large scale development going to come from, along with other essential services, to me it just looks unappealing
Not at all but I am a shareholder unlike the majority of posters here.
You must be on the payroll
You ought to try it Pedrobull but I would wager that you would fall at the first hurdle after all where would you find a plot of land measuring 10 square miles of outstanding natural beauty with sea views and coves as far as the eye can see (your idea of "barren land") for development.
Its a one off and you wonder why it is still ongoing?
I don't having been suckered a long time ag when it was called Loyalward.
I only follow for curiosity and amazement that this is still going.
Note to self, register a new company with a few directors and a dubious yet believable claim on barren piece of land with monumentally difficult legislation to overcome for planning, then sit back and watch the sunset spending other peoples money.
Do any of you own any shares in this company??
Whatās 70m shares between friends ?
More and more dilution, this is a basket case alright
Charles this BOD have suckered people like Bigwell and others for decades with this barren undeveloped land ,as stated they have No cash and No investment coming in ,im afraid they listen to some absolute nonsense every time they put an RNS out
****nal, agree, every rns is somewhat disappointing and ambitious offering little of substance imo
Bigwell I quote the real facts which are today and in the past ,you really need to learn how Aim companys work , the BOD have kidded you and others for decades and still do ,as I said earlier there is a reason for the SP being what it is and I suggest you take note of what could well happen here in the coming months ,remember this is today we are talking about No Cash and No investment coming in ! REALITY and Iām very strong not like Minoan very weak
as always ****nal you live most definately in the past and its always a good sign when you resort to derogatory personal comments - it shows weakness rather than strength.
Charles your wasting your time with Bigwell the guy has his head stuck in the sand he repeats everything that relates to decades of the past apart from the SP that is 0,67p and the fact the BOD have No cash and No investors for The undeveloped Barren Land Project š .Not long now before the begging letter will be out so as they can keep getting paid ?
And speaking of well respected shareholders, Nick2412 posted the enclosed on the other thread:
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 fact that a revision or supplement to the existing agreement is also advantageous to the Foundation in terms of early funds for tax and other reasons is key. In short, it's a win-win scenario. 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.
Just in case you didn't manage to read the final paragraph it says:
"The Board looks forward to welcoming shareholders at the General Meetings."
Those meetings were held on Friday and shareholders like you (??) and I were allowed to go to the meetings where the directors answered questions from shareholders. Unfortunately I and presumably you (??) were unable to attend the meetings on Friday. However, Waterloo01 WAS able to attend and very kindly forwarded a summary of what transpired at the meetings.
So you got it from the "horses mouth" as it were and from a well respected shareholder of MIn.
Well wake up at the back there, Charles2!!
There was an RNS on last Friday (infact two) see below:
RNS Number : 0127T
Minoan Group PLC
10 November 2023
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
10 November 2023
Minoan Group Plc
("Minoan" or "the Company")
Update
Minoan Group Plc, the creator and developer of environmentally friendly luxury hotels and resorts in Crete, will hold its Re-convened Annual General Meeting and its General Meeting today. Ahead of these meetings the Company is providing a brief update to shareholders.
Minoan is having frequent discussions with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani (the "Foundation") on an updated agreement concerning the Company's Itanos Gaia Project (the "Project"). The Company will update shareholders regularly on progress towards a conclusion. Alongside this, the team is moving forward with the environmental studies required as part of the final planning process. Both actions are assisting in the discussions on the final format and shape of the initial agreement with the first of the hotel groups.
Further, as part of the ongoing commercial activities, the Company can report that in recent weeks it has had a number of discussions regarding third parties taking meaningful interests in the Project. These discussions are being actively pursued and, if successful, the Company will make the appropriate announcements in due course.
The Board looks forward to welcoming shareholders at the General Meetings.
So is Waterloo, whoever he is the official spokesperson for min, or just responding to what the management said at a meeting, so why donāt they release the information via an official rns. So basically it just means nothing confirmed just weāre in talks, discussions, had a few calls with them last week with follow ups, what did they say about the previous thrilling news of discussion with a major luxury hotel group? I just cannot see this development ever happening, whoās the financier, rates are very high, ever higher for this type of development, just more fund raising, more dilution for existing shareholders, no one new will invest unless there are signed up deals and named parties imo
makes you wonder how they keep their head above water ****nal and they seem to keep on managing it much to everyone 's dismay. credit should be given for their tenacity............... (but not from anyone here, merely troll-like criticism is all that can be managed here!!)
Bigwell the only person talking claptrap is you , itās so obvious the BOD have convinced you after decades of nothing happening with No Cash reserves and just loads of Debt that there is something happening ,Well there isnāt ! You really have got your head stuck firmly in the sand hence 0.67p. Reality
I must say that I despair over the un-informed claptrap that follows on from any of my posts. Waterloo01 is a well respected and knowledgeable poster on the other thread, especially so when it comes to Min. He has said it as it is and you should be ashamed of yourelf Charles2 for your response.
foundation. george tells us that meetings are now fairly frequent (he had 3-4 conversations last friday alone), and he's meeting them again next week or so. part of the delay was the lack of proper financial advice on what is essentially a commercial deal. they are now being advised by pwc (part funded by us) on their side, and deloitte on our side. we have put an 'offer' top them and we're awaiting their counter offer, although we're led to believe that the two offers are actually pretty close to each other.
seriously this is just a load of poppy****, what min never suggested that they should get professional representation but it is now being used as a delay ?
then we hear pwc are acting for them party funded by min, not really a conflict of interest? you just canāt make this crap up!!
itās only being talked about as a āstealā by those desperate holders trapped in a higher prices, trying to create a story to seduce new buyers, who aināt that stupid!
please take keep your nonsense amongst yourselves, you aināt fooling anyone!
Waterloo01 added
I think that's it. I'll add further should things come back into mind. Solid buy and an absolute steal at this price!
(ran out of room on the initial post but important in itself)
Waterloo01
Very nice to meet a number of other holders. I'm sure others will have some added comment as we had some break out groups, so didn't catch everything, but in short, I went away a lot happier that things are moving in the right direction.
Foundation. George tells us that meetings are now fairly frequent (he had 3-4 conversations last Friday alone), and he's meeting them again next week or so. Part of the delay was the lack of proper financial advice on what is essentially a commercial deal. They are now being advised by PWC (part funded by us) on their side, and deloitte on our side. We have put an 'offer' top them and we're awaiting their counter offer, although we're led to believe that the two offers are actually pretty close to each other.
GM also told us that trust between the parties has now been re built, and they are no longer concerned about our ability to fund. (Suspect Martin Gilbert involvement has given them some comfort.) There is a meeting being arranged between the Bishop and the company along with some of the DAGG members. Hopefully to seal the deal.
The contract is fully valid as it stands (as GM noted it's like a Catholic marriage, no escape) but it needs updating to incorporate many if the agreed changes since the original was signed. Hopefully that will include Epifania, which is in both parties interests. All understand the importance of closing this off, so we can get on with doing commercial deals and development. The Foundation are also in need of cash, to settle amongst other things outstanding tax (they seemed to suggest that they would need that this side of Xmas).
Further the locals, including local Politicians are keen to see the development happen. Their main objection being that it's taking sop long to get development started (on which we all agree)
"We are close" and could be weeks but unlikely to be many months. CE confirmed his view that it's worth at least 50-70m as it stands, a number the Greek valuer pretty much agreed on (they attributed a value of around 60m as part of the audit)
The commercial interest is particularly interesting and ranges from a JV on the whole site from a large consortium through to taking part of the site to build a private estate within the estate. They are actively pursing these, although one suspects we need to get the updated contract completed before they would move ahead to signature, however CE suggested in would all fall into place very quickly, once we have the updated agreement.
Values on both potential deals are significant and either would dwarf the market cap today. CE reminded the meeting that in years gone by they had an offer in the 100m's from Q8, but the contract got challenged (which let to court cases and the eventual resolution with the unappealable Presidential decree)and the interest dropped away. They are however still in the market, so no doubt will also be re approached about interest,
I think that's it. I'll add further s
big wil, they have been saying the same thing for so many years āin discussionsā with interested parties etc, nothing ever results, no one questions then, itās just total ****** like many other aim companies struggling under the weight of sky high interest rates and debt and a great difficulty raising funds. none of their rnsās provide any concrete deals, constantly leaving a bit of hope for the already no-hopers.