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Guess the thing to do would be attend the AGM on 10th Nov and ask a question about the luxury hotel operator that is waiting to get involved...
We look forward to updating shareholders on a number of matters at the meetings, including the appointment of the new DAGG nominated director and on contractual and commercial developments, in addition to the recent announcement of the 'collaboration' agreement with an international operator of luxury hotels."
How long left has this BOD got sinking fast I feel No Cash reserves just plenty of Debt reserves I’m afraid .
What a disaster this Company is, clearly investors don’t believe anything in this latest rns where is 2p, 3p. coming from?..scam alert imo
Exactly Luke this BOD just don’t pay back deb5 ,they just ensure they are getting a salary !
RNS
"The other resolutions will be for the authority to issue up to 120m shares to settle up to GBP2.8m of balance sheet liabilities in order to improve the security of the balance sheet..."
Today's announcement implies that creditors are being obliged to accept Minoan paper at around 30p in the £ in lieu of the settlement of current liabilities amounting to £2.8million
Not good news then, in any way, shape or form, for the remaining creditors of circa £5million.
Who exactly will be paying over 2p, 3p etc, the market reaction as always has been highly skeptical, just a load more dilution coming up, to keep the board in comfy lifestyles.
Yet another meeting where the Begging Bowl will be out ,you couldn’t make it up !
More confetti-get the bunting out
Charles 1 thing does happen the BOD keep getting a salary from investors
How much longer can this dreadful fairy tale be strung out, nothing ever happens?
I bet the Begging letter will be out at the next general meeting for sure hence .78p looking Grim
Agree, looks terminal, they have had donkeys years to develop this land, nothing ever happens now the climate is high interest rates, who’s going to put up the finance?
Charles they have No cash reserves so it must be a certainty
No idea what’s happening here, just lots of selling, if anything game changing was coming I’m sure we would see a leak and plenty of buying, so I can only assume, nothing is happening. Must be a cash call coming up?
Looks like another raise coming up, have they got much cash left in the till? Typical AIM stock playing out the end game by the looks of things.
Luke I agree not looking good
I would not want to buy MIN shares even if they sink to 0.7p on the offer.
Further dilution and/or a delisting would be my guess at Minoan's options going forward.
Does anyone actually see this Company surviving the year?
Just decades of yarn spinning Sir!
2nd August RNS
The Directors of Minoan announce the issue of 16,140,103 ordinary shares in order to settle certain existing liabilities at 1p per Share. Following Admission, there will be a total of 751,368,219 Ordinary Shares
29th August RNS
The Loan with DAGG stood at £1,414,462 as at 31 Dec 2022. It has been agreed with the partners of DAGG, that half of this amount, being £707,231, will be immediately redeemed by the issue to the members of DAGG of 70,723,100 new ordinary shares in Minoan ("Ordinary Shares") at 1p per Ordinary Share.
The remaining balance of the Loan will be extended to 31 Dec 2024 for a FEE of £175,000 which will be added to the principal of the Loan. The INTEREST RATE on the Loan remains at 10% PER ANNUM.
The 35,000,000 warrants held by the members of DAGG to subscribe for Ordinary Shares in Minoan at 1.4p per Ordinary Shares issued in July 2020 which had expired on 31 December 2022 are being reinstated with an exercise price of 1.1p per Ordinary Share and an expiry date of 31 December 2024 to be coterminous with the debt.
Nicholas Day who is a director of Minoan/Loyalward and holds 9.4% of the shares in Minoan also is a "member" of DAGG.
You'd struggle to make this up but net result is a 10% dilution but Nick will still hold 10% and his warrants gets re-instated at 1.1p and DAGG get 10% interest on the loan.
You couldn’t make it up ,Yet agin debt is kicked down the road it’s never paid off simply because they have No capital and keep on drawing on shareholders to pay there salaries,that really are taking the biscuit. and kidding most people .
Endless shareholder dilution!
The only part of the RNS I couldn’t see is CEs resignation-
Charles it has been one big promise for decades Ma and the only winners are 5he BOD ,they have nothing to show for this and the market cap value is a Joke because they own Nothing !
You get the feeling that this Company may not have long left, have they actually got any cash left, all they do is give out lots of pretty promises, I noticed there has been a faithful bit of selling recently?