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Pin to quick picksMinoan Share News (MIN)

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Share Price: 0.65
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TRADING UPDATES: Cambria Automobiles suitor tables improved offer

Fri, 30th Jul 2021 20:39

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Cambria Automobiles PLC - franchised motor retailer - Cambria Bidco Ltd tables final increased cash offer for Cambria Automobiles of 82.50 pence per share. Independent committee recommends shareholders accept final cash offer. Initial offer in early June was at 80p per share, which was a 21% premium to the closing price of 66.0p on March 19, being the last business day prior to the commencement of the offer period. Shares closed at 81.5p on Friday.

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Oilex Ltd - Australian oil and gas exploration and production company - Cash resources as at June-end AUD4.3 million, including the USD2.2 million reserved for the Cambay PSC purchase consideration.

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Tlou Energy Ltd - Lesedi gas-to-power project in Botswana - Signs heads of agreement with Synergen Met Pty Ltd, a hydrogen developer using plasma technology. The pact envisages the construction and commissioning of a hydrogen and solid carbon prototype to be installed at the Lesedi Project in Botswana. "Design work has commenced to modify this unit to produce hydrogen and solid carbon using Tlou's existing gas flows and approvals. The prototype will be constructed and tested in Queensland prior to transport to Tlou's Lesedi Project in 1Q22," firm says. Separately says that talks over power purchase agreement and funding for Lesedi project "significant advanced" in quarter ended June 30. Is bound by confidentiality and cannot currently expand further, but is looking forward to "bringing both of these key matters to a conclusion as soon as possible", though notes that timing is outside its control.

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Minoan Group PLC - developer of a holiday resort in Greece - Firm raises GBP350,000 via placing of 31.8 million shares at price of 1.1p each. In addition, and in order to settle certain liabilities, the company is issuing 9.1 million shares at same price, representing total value of GBP99,600.

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MaxCyte Inc - cell-engineering platform technologies provider - Prices upsized offering of 13.5 million shares at USD13.00 each. Anticipates gross proceeds of USD175.5 million, or USD201.8 million if underwriters exercise their option to purchase additional shares of common stock in full. "MaxCyte intends to use the net proceeds from the Offering for research and development initiatives, to expand its manufacturing capabilities and invest in manufacturing automation, to expand its sales and marketing, business development and field application scientist teams, and for working capital and general corporate purposes," it says. Shares start trading on Nasdaq Global Select Market on Friday.

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Prairie Mining Ltd - Poland-focused coal development firm - Says in strong financial position to pursue claim against Poland and continue with business development activities, with USD12.3 million litigation funding agreement and cash reserves of AUD4.8 million as at June 30.

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Berkeley Energia Ltd - clean energy company focused on bringing its wholly owned Salamanca project in Spain into production - Says in strong financial position, with AUD80 million in cash at end of quarter, and adds it will continue to strongly defend its position in relation to Nuclear Safety Council's adverse decision.

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European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Says market for and price of lithium improved significantly throughout three months to June-end, and expects this improvement to continue. "The quarter was marked with positive and encouraging results from locked cycle testwork, the lodging of the Environmental Impact Assessment submission, significant advances in the formal assessment of the Project's environmental credentials and continued successful drilling programme," it says.

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Greencare Capital PLC - invests in medicinal cannabis sector - Pretax loss for six months to end of April GBP102,000, widened from GBP46,000 a year ago. This reflects rise in administrative expenses. Net assets at April 30 GBP1.3 million versus GBP449,000 a year ago. "The directors strongly believe that the market sectors which the company is focused upon investing in are going through a very exciting, transitional period, with the company well placed to deploy funds to take advantage of the forecast growth and changing regulatory landscape," it says, adding board is currently assessing "ever-increasing" pipeline of potential transactions.

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Tetragon Financial Group Ltd - closed-ended investment company that invests in a broad range of assets, including equities and real estate - Net asset value per share USD26.38 at end of June, down from USD26.57 at end of December. NAV per share total return flat for period, while MSCI ACWI Index returns 13% and FTSE All-Share 11%. "Within Tetragon's portfolio, allocations to private equity in asset management companies, hedge funds and bank loans made money, while allocations to real estate, other equities and credit and private equity and venture capital lost money," it says.

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Limitless Earth PLC - investment company - Pretax loss for year ended January GBP50,493, slimmed from GBP178,535. Net assets flat around GBP2.0 million. "It is the intention of the board to seek to exit the current investments which have performed well, when conditions provide for a successful exit, in order to provide funds for reinvestment. The board looks forward to updating shareholders with any progress in the year ahead," it says.

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Global Ports Holding PLC - London-based cruise port operator - Completes new five-year loan agreement for up to USD261.3 million with global investment firm Sixth Street. "As a result, GPH has concluded the early repayment of the USD200.3 million outstanding amount, plus accrued interest, of the 8.125% senior unsecured Eurobond, due 14 November 2021, issued by GPH's wholly-owned subsidiary Global Liman Isletmeleri AS," it says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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1 May 2024 13:57

Minoan annual loss narrows as project in Crete progresses

(Alliance News) - Minoan Group PLC on Wednesday said negotiations for the Cavo Sidero project in Crete are progressing as it reported a narrowed annual loss.

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23 Apr 2024 14:29

UK shareholder meetings calendar - next 7 days

Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
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British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
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Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
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Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
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International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
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Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
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Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
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Tissue Regenix Group PLCAGM
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Friday 26 April 
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Kingspan Group PLCAGM
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Pearson PLCAGM
Senior PLCAGM
Smurfit Kappa Group PLCAGM
Monday 29 April 
Goldstone Resources LtdAGM
Hydrogen Future Industries PLCAGM
JPMorgan Claverhouse Investment Trust PLCAGM
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Ocado Group PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
8 Mar 2024 13:55

EXECUTIVE CHANGES: Ethernity chair stays on, Picton director to quit

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Friday and not separately reported by Alliance News:

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5 Jan 2024 10:33

IN BRIEF: Minoan Group upgrades forecast for Cavo Sidero project

Minoan Group PLC - developer of hotel resort projects in Crete - Expects annual revenue from its planned Cavo Sidero resort to be "considerably in excess of EUR100 million". This is based on an updated business plan for the project, prepared with the help of property agent Savills PLC, that takes into account recent increases in room rates at high-end tourist resorts. Cavo Sidero sits on a peninsula facing the Mediterranean, and Minoan is permitted to build 108,000 square metres of space in five locations for hotels and resorts. Minoan says it continues to talk to the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani about being granted an 'epifania', equivalent to a 99-year ground lease, for the project. In the meantime, Minoan is moving ahead on the basis of its existing contract. It is preparing an environmental study, which is required before building.

Read more
10 Nov 2023 16:18

IN BRIEF: Minoan in discussions over deal for Itanos Gaia hotel, Crete

Minoan Group PLC - Croydon, England-based developer of the Itanos Gaia resort hotel project in Crete - Says it is in "frequent discussions" with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani on an updated agreement for the company's Itanos Gaia project. Says: "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." Says as part of ongoing commercial activities, it has had a number of discussions in recent weeks regarding third parties taking "meaningful interests" in the project. Says: "These discussions are being actively pursued and, if successful, the company will make the appropriate announcements in due course."

Read more
3 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Monday 6 November 
Plaza Centers NVAGM
Tuesday 7 November 
Time Finance PLCAGM
Wednesday 8 November 
Incanthera PLCAGM
Thursday 9 November 
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Libertine Holdings PLCAGM
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Friday 10 November 
DFS Furniture PLCAGM
Galliford Try Holdings PLCAGM
Minoan Group PLCAGM
Minoan Group PLCGM re issuing shares
Quartix Technologies PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
18 Oct 2023 10:56

IN BRIEF: Minoan schedules meeting to help settle loan and liabilities

Minoan Group PLC - Croydon, England-based developer of the Itanos Gaia resort hotel project in Crete - Says re-convened annual general meeting to consider accounts for the year ended October 31 will be held on November 10. Company will hold a general meeting on the same day. Will propose two resolutions regarding authority to issue shares to DAGG LLP, having said in late August it will issue 70.7 million shares at 1 pence each to DAGG to clear half of a GBP1.4 million loan. Minoan will also request authority to issue up to 120 million shares at 2p each on average, to settle up to GBP2.8 million of balance sheet liabilities. Says this will improve the balance sheet's security and prepare Minoan for the next stage of development. Chair Christopher Egleton says prioritising liability reduction "demonstrates in a real way that the company and the Itanos Gaia project...are currently significantly undervalued."

Read more
29 Aug 2023 13:40

IN BRIEF: Minoan issues shares to clear half of loan, gets extension

Minoan Group PLC - developing Itanos Gaia resort hotel project in Crete, Greece - Issues 70.7 million new shares at 1 pence each, an 11% premium to Friday's closing price, to DAGG LLP to clear GBP707,231 of the GBP1.4 million loan owed to DAGG. The remainder of the loan will be extended to December 31, 2024 at the same interest rate of 10%. For this, Minoan will pay a fee of GBP175,000, which will be added to the loan principal. DAGG will have warrants for 35.0 million Minoan shares reinstated at an exercise price of 1.1p. DAGG also will be given the right to name one director to the Minoan board.

Read more
1 Aug 2023 14:32

Minoan to collaborate with unnamed luxury group on Crete hotels

(Alliance News) - Minoan Group PLC on Tuesday said it has agreed to work with an unnamed "major international" luxury hotel group on one or more of Minoan's hotels in the Itanos Gaia project in Crete, Greece.

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31 Jul 2023 14:36

EARNINGS UPDATES: Kropz annual loss widens on impairments

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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28 Apr 2023 12:23

IN BRIEF: Minoan annual loss widens as costs rise

Minoan Group PLC - London-based Greek hotel investor - Pretax loss widens to GBP1.1 million for the year ended on October 31, from GBP749,000 the year before. Says this is due to increased loan interest charges. Operating costs rise to GBP541,000 from GBP511,000. Net assets as at October 31 increase to GBP42.7 million from GBP42.4 million a year earlier. Makes no revenue for the year. Adds that the continuing constructive discussions with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani are not impeding progress on the Itanos Gaia Project in Crete.

Read more
21 Apr 2023 15:49

UK shareholder meetings calendar - next 7 days

Monday 24 April 
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
5 Jan 2023 14:50

IN BRIEF: Minoan expects to conclude debt discussion shortly

Minoan Group PLC - London-based Greek hotel investor - Expects to conclude "constructive" discussions over its secured debt with DAGG LLP "shortly". Says it will update shareholders in due course. Also expects to provide an update on the progress of discussions regarding the commercial and financial activities of the Itanos Gaia project in Crete.

Read more
5 Jan 2023 10:17

AIM WINNERS & LOSERS: Live Co drops on expectations of annual loss

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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24 Oct 2022 21:18

TRADING UPDATES: Silverwood finishes acquisition; Hardide names chair

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more

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