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Pin to quick picksMinoan Share News (MIN)

Share Price Information for Minoan (MIN)

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Share Price: 0.70
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UK TRADING UPDATE SUMMARY: Bagir Says Cash Insufficient To Carry On

Fri, 03rd Apr 2020 11:41

(Alliance News) - The following is a round-up of updates by UK companies on the impact of the Covid-19 pandemic, issued on Friday and not separately reported by Alliance News:

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Bagir Group Ltd - tailor - Trading suspended on AIM as existing orders placed on hold or cancelled by customers, giving limited visibility on future revenue and customer payments. As a result, company does not have enough cash to continue operating as a going concern. Board now assessing options.

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Salt Lake Potash Ltd - potash production - All contact with local Wiluna community in Western Australia ceased. Use of airport unaffected, continues to support business. Off-lake civil construction earthworks at Lake Way Project complete. First revenue expected in first quarter of 2021.

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DP Aircraft I Ltd - aircraft leasing - Suspends the payment of dividends, as discussions ongoing with Norwegian Air on its lease obligations involving two aircraft.

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Cenkos Securities PLC - stockbroker - Defers release of results for 2019 from original date of December 31, but expects to report continued profitability based on strong second half performance. Continuing operations as normal despite staff working remotely.

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Anexo Group PLC - credit hire and legal services - Delays publication of 2019 results in line with UK FCA request. Pretax profit expected to be in line with expectations. Defers decision on 2019 dividend payout, as well as proposed opening of new Leeds office. Performance in 2020 to date in line with expectations.

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Minoan Group PLC - resort development - Project in Crete not "unduly" affected by Covid-19 outbreak, but company's cash position constrained, and in discussions with loan provider for extension or settlement and restatement. Will publish results for year ended October 31 in April.

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Fox Marble Holdings PLC - marble quarrying - Operations in Kosovo deemed essential and allowed to continue, but with operations scaled back to specific projects. Operations in Macedonia significantly scaled back, as demand falls due to travel restrictions in China and Europe. Board to not take salary or fees until operations resume. London head office staff furloughed.

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Ceiba Investments Ltd - investment in Cuban real estate and tourism - Will not declare dividend for 2019, and withdraws guidance for future performance. Investee Miramar SA to close all hotels and substantially decrease its workforce. Investee TosCuba to lower capital expenditure on hotel construction in Trinidad, Cuba

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Clontarf Energy PLC - oil & gas - "High level" discussions over projects in Ghana and Bolivia postponed. In Ghana, ready to initiate Tano 2A work programme once petroleum agreement is signed and funding secured. In Bolivia, holding discussions with new interim government for proposal on medium-sized salt-lakes.

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ReNeuron Group PLC - cell-based therapeutics - Continues internal research projects. Initiates one such programme for utility of company's exosomes in increasing the potency of SARS-CoV-2 coronavirus vaccines. Clinical studies in US now subject to delays.

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SME Credit Realisation Fund Ltd - credit investment - To continue cash return to shareholders on quarterly basis, paying quarterly dividend of 1.3125p per share in May. Delays publication of net asset value as at March 31, and suspends share repurchases until NAV is published. Sale of portion of assets delayed.

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Adriatic Metals PLC - metals exploration - Exploration activity for Vares project in Bosnia & Herzegovina slightly delayed, but ongoing. Pre-development work continues, but considering deferral of pre-feasibility study to allow additional drilling to be added to an updated mineral resource estimate.

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XP Power PLC - critical power components manufacturer - All manufacturing facilities remain operational, as volumes in China recover from February lows, and Vietnam factories operate at normal levels. For first quarter to end of March, revenue up 5% to GBP19.1 million, and orders up 34% to GBP73.1 million. Withdraws final dividend payout of 36p per share.

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MediaZest PLC - audio-visual services - Now expects to report post-tax loss for six months ended March 31, as lockdown measures lead to deferred and delayed projects, taking a toll on trading. Expects Covid-19 disruption to last for six months at a minimum and will work to cut costs, wherever possible.

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Henry Boot PLC - construction - Closes all sales centres and pauses all construction work aside from sites vital to the NHS. Suspends all existing guidance for future performance.

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Intelligent Ultrasound Group PLC - healthcare-focused AI software - Installs BodyWorks Point-of-Care ultrasound simulator alongside Covid-19 lung ultrasound module in NHS Nightingale Hospital at the ExCel exhibition centre in London. The exhibition centre in the Docklands, east London, has been converted into a temporary hospital, with space for 4,000 beds, to treat victims of Covid-19.

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Clipper Logistics PLC - logistics services - Wins contract to establish supply chain for personal protective equipment products delivery to NHS Hospital Trusts and other healthcare providers across the UK.

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Oracle Power PLC - energy development - Anticipates no significant negative impact on the timelines for the development of Thar Block VI in Pakistan.

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OneSavings Bank PLC - mortgage lending - Cancels payment of final dividend for 2019 of 11.2 pence per share.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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31 Jul 2018 12:35

Minoan Group Confident On Cretan Hotel Project As Loss Widens

LONDON (Alliance News) - Minoan Group PLC on Tuesday reported a wider interim loss as it continues to look to sell off its Travel & Leisure business to pay off debt.For the six months a

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2 Jul 2018 13:21

Minoan Group To Sell Stewart Travel In The "Next Few Weeks"

LONDON (Alliance News) - Minoan Group PLC said Monday it expects to exchange contracts in respect of the sale of Stewart Travel Ltd in the "next few weeks".Earlier in June, Minoan

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26 Apr 2018 16:41

Minoan Group Raises GBP500,000 In Discounted Share Placing (ALLISS)

LONDON (Alliance News) - Minoan Group PLC said Thursday it has raised GBP550,000 from placing 9.2 million shares at a price of 6.00 pence each with institutional and other investors.The be

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9 Sep 2016 13:20

Minoan Group issues profit warning over Brexit

(ShareCast News) - Minoan Group announced an update in its travel business and its Greek project on Friday, with the board saying the group's travel business has been negatively affected by the outcome of the Brexit vote, weakness in sterling and the decline of tourism in Turkey. The AIM-traded firm

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27 Jul 2016 07:55

Minoan Issues 3.0 Million Shares To Settle Liabilities (ALLISS)

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14 Jul 2016 15:25

Minoan reports wider H1 pre-tax loss, cautious about Brexit

(ShareCast News) - Minoan, a resort developer and travel agency, reported a wider half year pre-tax loss as its revenue grew and said it was cautious about Brexit. For the six months ended 30 April, the company's pre-tax loss widened to £1.1m from £759,000 the same period last year due to operating

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14 Jul 2016 09:44

Minoan Annual Loss Widens, Warns On Weak Sterling After Brexit

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30 Jun 2016 12:47

Minoan Says Appeal Against Crete Decree To Be Heard In September

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8 Jun 2016 11:42

Court date set for appeals against Minoan development

(ShareCast News) - Travel and leisure company Minoan Group revealed some positive progress with its controversial large Crete development on Wednesday, with news that appeals to its planning consent will take place in July. The AIM-traded company said the Greek Council of State - its supreme adminis

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18 Apr 2016 15:05

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31 Mar 2016 11:15

Minoan To Focus On Crete Project As 2015 Loss Widens

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11 Mar 2016 15:19

Minoan Group Chairman Calls Project Approval "Transformational Event"

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24 Feb 2016 15:54

Minoan Group shares skyrocket on Greek media rumours

(ShareCast News) - Shares in Minoan Group were up by a large margin on Wednesday afternoon, after rumours circulated in Greek media that the requisite signatories required Presidential Decree for its Crete Project had been delivered. The AIM-traded company said that, while it had not received a form

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24 Feb 2016 15:29

Minoan Says Government Sources Have Verbally Confirmed Crete Backing

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