Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Bigwell you keep kidding yourself as we have heard lots of this so called news before and Nothing ever happens to Minoan , at the end of the day the SP is 1.10p and I don’t really think that Accor are going to put there good hard money into Minoan after all Greece is a big place with all of its islands if they were coming here they could go anywhere ? As I said before let’s see where SP is in a month
Accor CEO Sébastien Bazin Lauds Greece
https://news.gtp.gr/2021/11/29/accor-ceo-sebastien-bazin-lauds-greece/
“You have everything.”
That’s how Accor‘s chairman and chief executive officer, Sébastien Bazin, described Greece as a tourism destination during the 5th International Hospitality Forum, held by the Hellenic Chamber of Hotels on Saturday.
“Accor could do so much more in Greece,” he told Vassilikos, adding that the multinational hospitality group would be interested in developing more in the country.
“We cannot miss the ‘Greece opportunity’ at Accor,” he said.
Greece: Hotel Booking Demand to Hit 20-year High in 2022, Says Eurobank
https://news.gtp.gr/2021/12/01/greece-hotel-booking-demand-to-hit-20-year-high-in-2022-says-eurobank/
New €750m Funding Package
During the press conference, Eurobank also announced a new 750-million-euro funding scheme for the Greek hospitality industry.
The funding package is broken down to:
– 275 million euros for the construction of new hotel units and the expansion of existing ones;
– 225 million euros for the upgrade of existing hotel units; and
– 250 million euros for acquisitions and strategic refinancing.
Funding is expected to increase capacity by 2,000 rooms and upgrade 4,700 rooms mainly in four- and five-star hotels located throughout the country.
Law 4864
Published in Government Gazette 237 - 02.12.2021 on 02.12.2021
INVESTMENT STRATEGIES AND IMPROVEMENT OF THE INVESTMENT ENVIRONMENT THROUGH THE ACCELERATION PROCEDURES IN PRIVATE AND STRATEGIC INVESTMENTS, GENERATION FRAMEWORK FOR COMPANIES TECHNOV
Chairman's Comment
"The Company will now be taking further steps to progress its Project in Crete and looks forward to providing a more detailed update following the formal publication of the new law, expected in the next few days."
Minoan Group PLC New Development Law and Loan Extension
01/12/2021 12:44pm
UK Regulatory (RNS & others)
Minoan (LSE:MIN)
Intraday Stock Chart
Thursday 2 December 2021
Click Here for more Minoan Charts.
TIDMMIN
RNS Number : 2442U
Minoan Group PLC
01 December 2021
1 December 2021
Minoan Group Plc
(The "Company" or Minoan)
New Development Law and Loan Extension
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
New Development Law
The Company is pleased to report that the Greek Parliament has approved a new development law regarding strategic investments such as the Company's Itanos Gaia hotel and resort development in Crete (the "Project").
The law is intended to enhance the attractiveness of Greece to investors by inter alia: simplifying bureaucracy, improving incentives and, in particular, enhancing the approval processes for Strategic Investments of which the Company's Itanos Gaia project is one.
Loan Extension
Further to the announcement on 29 October 2021, the Company announces that for a fee of GBP150,000, to be settled by an issue of Ordinary Shares in Minoan at 1p per share, a six month extension of the loan to 30 April 2022 has been agreed.
As Nicholas Day, a substantial shareholder of the Company currently holding 10.18% of Minoan's issued share capital, is a member of the lender (DAGG LLP) and the loan extension and fee constitutes a related party transaction under Rule 13 of the AIM Rules for Companies, the Directors of Minoan consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
Chairman's Comment
"The Company will now be taking further steps to progress its Project in Crete and looks forward to providing a more detailed update following the formal publication of the new law, expected in the next few days."
For how long a few weeks maybe ?
The ever existing loan gets extended again for ye5 anothe4 year ,you couldn’t make it up ! At leas5 it keeps the BODs salaries going LOL
Parliament: The bill on strategic investments was voted for
https://www.powergame.gr/politiki/165574/vouli-yperpsifistike-to-n-s-gia-tis-stratigikes-ependyseis/
"Within two years we have achieved 23 new integrations of strategic investments, with a total budget of 5 billion, and 4,000 jobs", stressed the Deputy Minister of Development Nikos Papathanasis,in his concluding position on the bill on strategic investments and spin-off companies,which was voted by the majority of the Parliament.
Bigwell I’m sat in the sun in St Lucia in the real world through good work ethic and good investing something you won’t get of Minoan so you keep kidding yourself after all it’s back to a big fat penny WOW !
British business eyes Greece
UK entrepreneurs, funds spoke to PM Mitsotakis of their interest in investing in the country
https://www.ekathimerini.com/economy/1172259/british-business-eyes-greece/
Leading British entrepreneurs and investment firms expressed their considerable interest for investing in specific projects in Greece during a meeting with Prime Minister Kyriakos Mitsotakis at the residence of the Greek ambassador in London last Wednesday, as well as in other contacts made during the Greek premier’s visit to the UK.
Mitsotakis pointed out three main factors that give Greece its significant competitive advantages: its geostrategic position, the high caliber of its human resources in terms of education and skills (including the brain drain flow that is being reversed) and the political stability that has returned to the country.
In the Parliament the law on strategic investments
https://www.powergame.gr/ikonomia/161186/sti-vouli-to-n-s-gia-tis-stratigikes-ependyseis/
On Tuesday, November 23rd, the bill on strategic investments and the acceleration of procedures in the wider investment environmentis introduced in parliament for a vote. The bill ensures the necessary legal clarity and creates more attractive conditions for prospective strategic investors.
It is easier to characterize an investment as a strategy as the required financial figures are reduced. New capital incentives are introduced in specific categories of investments. At the same time, the procedures for the licensing and control of the implementation of strategic investments are accelerated by entrusting the monitoring to private entities. A new category of Strategic Investments is introduced under the title "Emblematic Investments of Exceptional Importance" linked to the resources of the Recovery Fund.
As far as private investments are concerned, by amending the current Development Law 4399/2016, substantial improvement interventions are promoted in the procedures for the evaluation and control of investments in order to make them faster and effective. The bodies from which the members of the Evaluation Committees will come are expanded, involving more certified auditors coming from the market and specific deadlines are set for the evaluation and control of the implementation of investment plans.
Will the BOD be able to say something positive soon and get this to a big fat penny ?
Truth that’s been happening for decades mate , BOD getting salaries and always asking for loan extensions,you could not make it up !
Nosurr I admire your optimism but this has been going on for decades and right on cue the begging letter comes out for the Loan ,you can’t make this up it’s laughable and very predictable.
Pigs will fly first. No point selling at this level, put them in a drawer in the attic and leave them for your heirs.
Truth I’m fine thanks just a pity Bigwell and others are still dreaming ,don’t know how long this has left really as nothing has changed over the last 10 years still looking for investors for that so called project they have ,interesting times again good luck
Henry your right mate but there is a lot of blind faith on here not accepting the Facts on how this business is run im afraid hence 0.90p
From what we are now seeing this group look's like it's going down even more that anyone could have predicted. I believe that many shareholders will now start to sell as quickly as possible.
WOW in the modern world that is not a lot of money and don’t forget the debt they still have , I see you are not counting the barren undeveloped land in that after all it is worthless unless someone puts big money in to develop ,which is highly unlikely after all these decades that have gone by hence 0.92.5p !
That equates to a market cap of approx £5M which IMV is far too low.
Bigwell ask yourself one question,Why is the SP 0.92.5p ?
The web site reveals the extent of the opportunity:
The approval of the project:
*Represents a momentous consolidation of the support of Government and the other authorities in the land
*Enables our absolute focus now on the implementation and achievement of the Project
*Provides the framework for maximising and delivering value.
Minoan's and the Foundation's vision - a unique asset:
*Largest private estate in the Eastern Mediterranean
*Set in the Cavo Sidero 25 sq km Peninsula, with its 28kms of coast with numerous secluded coves and bays
*In an area of outstanding natural beauty with spectacular views
*Permitted build space of 108,000 sq m, plus allowances
*Distinctive locations for hotels and resorts
*Properties can include significant outside space
*Project granted “Strategic investment” status by the Greek Government
*With the benefit of an extremely flexible outline planning permission
*Using less than 0.5% of the land for building
*Endowed naturally with a history spanning the Minoan, Hellenistic, Venetian and Byzantine periods
*30 minutes from Sitia international airport
*Project supported by Municipality of Sitia and 28 unions & trade associations, in addition to the Church and Foundation
*The current design teams include both International and Greek specialists.
*Will contribute a significant number of jobs and economic benefits to the local area and Greece in terms of tourism and competitiveness.