Minoan Group PLC - Surrey-based Greek hotel investor - Raises GBP250,000 through placing of 13.9 million shares at 1.1p each and noted 8.8 million shares were taken up in the subscription, including 4.5 million shares by Non-Executive Director Grahame Cook. Subscribers will receive one warrant to subscribe for an ordinary share at 1.4p per share for every three shares taken up in the placing.
Chair Christopher Egleton commented: "As stated in my chair's statement in the interim results announcement, with the global lockdown beginning to ease we will accelerate the discussions with parties interested in participating in the project."
Earlier in August, Minoan said the Covid-19 pandemic delayed processes to refine and select potential partners for the delivery of its villa and hotel tourism project in Greece.
Current stock price: 1.29 pence
Year-to-date change: down 32%
By Paul McGowan; paulmcgowan@alliancenews.com
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Minoan (MIN)