IN BRIEF: Minoan Raises GBP205,000 And Reports Loan Restructured

Tue, 21st Jul 2020 19:03

Minoan Group PLC - developer of a holiday resort in Greece - Reorganises existing loan through a special purpose vehicle DAGG LLP. DAGG to effectively acquire existing loan, amounting to GBP1.1 million, from existing lender referred to as Zachary. DAGG will receive 35 million warrants to subscribe for Minoan shares at 1.4 pence each. Minoan also raises GBP205,000 in a placing.

Current stock price: 1.59 pence

Year-to-date change: down 21%

By Eric Cunha; ericcunha@alliancenews.com

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