Member Info for Bigwil7

Deloitte: Seamless Guest Experiences a Must for ‘Hotels of the Future’

https://news.gtp.gr/2022/06/30/deloitte-seamless-guest-experiences-a-must-for-hotels-of-the-future/

Hoteliers in the Mediterranean will have to reshape the look, feel and appeal of their properties in order to ensure exceptional guest experiences in view of changing customer demands and challenges, found “The Hotel of the Future” report released this week by consulting firm Deloitte Greece.

The new study examines resort design trends in the Mediterranean in the midst of changing customer preferences and new competitive challenges, and highlights the opportunities, technology innovations, growing environmental and sustainability priorities required to enter the new era.

Hotel architecture and design can play a leading role in creating memorable and authentic experiences tailored to the expectations of each guest and can be a powerful tool for hoteliers to differentiate their properties and stand out from the competition, found the report.

Given they are now dealing with George Mergos, who is both Greek and well respected and now that they have all the information that they need to form an opinion ( such as the detailed figurework from Deloittes and detailed architects plans to mull over ) that the Foundation will be very keen at long last to reach agreement with all concerned and start the ball rolling once again for the commercial aspects of the project to commence.

29 June 2022
Minoan Group Plc
(“Minoan ” or the “Group”)
Update
Minoan is pleased to announce that the Group is making good progress in the discussions
relating to adjustments to the Agreement with the Ecclesiastical Foundation Panagia
Akrotiriani (the “Foundation”) which may be required in respect of the terms of the
Group’s long leasehold title to the site of its Project in Crete.
The Company’s frequent meetings with the Foundation covering the key legal, technical
and economic aspects of the Project, have revealed that the new law on Epifania (the
equivalent of a long term ground lease in English law) best serves the interests of both
parties and, therefore, is the preferred option to enable development of the Project. The
use of Epifania would be in line with the most advantageous of the Business Plans referred
to in Minoan’s Preliminary Results Announcement of 28 April 2022.
George Mergos, Director said:
“We look forward to providing updates in the near term as negotiations move towards
a definitive agreement on the optimum changes and adjustments to the present
agreement with the Foundation. This will allow us to rapidly progress further discussions
with potential commercial partners.”

Major Infrastructure Projects Underway in Crete

Five infrastructure projects are currently in progress in Crete, upgrading the island’s property development, transport and tourism sectors.

https://www.greece-is.com/news/major-infrastructure-projects-underway-crete/

Investment interest in Crete, including large-scale tourist projects, is escalating, as five big infrastructure projects to upgrade the island and its economic prospects get underway. With Crete controlling 20% ??of travel receipts to Greece from abroad and having a strong local economy, it is not surprising that there is fierce competition between major construction and development groups when bidding for private projects.

Greek real estate rivalling Italy, Spain for foreign investors

https://www.businessdaily.gr/english-edition/61917_greek-real-estate-rivalling-italy-spain-foreign-investors

Key infrastructure projects are improving accessibility in a market where prices are rising but remain lower than elsewhere in Europe. Investors have shown a vote of confidence in Greek real estate.

At a second home fair in which Elxis participated last month in Utrecht, Netherlands, it was evident that Greece has become a ‘hot’ destination for home buyers, highlighted Gavriilidis, who added that Elxis is moving ahead by investing heavily in human resources, new technologies, innovation and sustainable properties.

SMERemediumCap Investment Fund to Acquire Patmos Aktis Hotel

https://news.gtp.gr/2022/04/15/smeremediumcap-investment-fund-acquires-patmos-aktis-hotel/

The SMERemediumCap (SMERC) investment fund has proceeded to an agreement to acquire the Patmos Aktis Suites & Spa hotel on the Greek island of Patmos.

“This 17-milion-euro investment takes advantage of the dynamic increase in demand in the hospitality sector, which has been significantly affected by the Covid-19 pandemic,” SMERC President Nikos Karamouzis said.

Greek realty attracts foreign interest, prices to rise by 10%

https://www.ekathimerini.com/economy/1182333/greek-realty-attracts-foreign-interest-prices-to-rise-by-10/

“Investor interest from countries such as the Netherlands, Germany and Belgium remains strong, focusing on Crete and the Ionian islands. This is keeping prices high as inflationary pressures drive construction costs upward in a trend seen continuing this year. We expect prices to advance by about 10% in 2022 despite the uncertain conditions,” Gavriilidis told the Athens-Macedonian News Agency.

7 April 2022

Minoan Group Plc

("the Company" or "Minoan")

Notice of Annual General Meeting

Minoan Group Plc announces that its Annual General Meeting will be held at 10.00 a.m. on 29 April 2022 at the offices of Pinsent Masons LLP, 30 Crown Place, London, EC2A 4ES.

The Notice of Annual General Meeting will be available on the Company's website today and will be posted today to those shareholders who have elected to continue to receive hard copy communication from the Company.

The Company intends to publish its results for the year ended 31 October 2021 before the Annual General Meeting.

Included in the results, Minoan will provide an update regarding any further substantive developments both within the Company and its Itanos Gaia Project in Crete (the "Project"). The Company has commissioned a range of reports including Deloitte Business Solutions SA's engagement to advise on and update the Project Business Plan and prepare a presentation of the Plan to assist both parties in the discussions with the Foundation. The update will therefore include as much of the key information as possible from the reports when they are complete in order to keep shareholders fully informed.

Christopher Egleton said "With the business plan updated, confirming the significant potential of The Project and with George Mergos appointed as Chairman of Loyalward Limited and leading discussions with the Foundation as well as the commercial operations in Greece, we look forward to providing a more comprehensive update on progress when we release our year end results."

Still living in the past then.
A few weeks with George at the helm - the ship may have sailed by then..........................

Sitting on the fence then Arsenal.
And not a derogatory word in two posts !
This is unheard of !!!

Minoan Group PLC - Greek hotel investor - Appoints George Mergos as chair of Loyalward Ltd, the Minoan subsidiary that owns the Itanos Gaia project in Crete. Mergos will remain a director of Minoan as well.

"With the project finally able to move to definitive agreements, which will require contractual relationships to be agreed in order to develop the site at Cavo Sidero, I am delighted to be able to be involved proactively in seeing this unique development finally take shape,"

Mergos comments. "The project is set in the largest private estate in the Eastern Mediterranean, and Minoan's steadfast and patient shareholders can rest assured that I aim to see their commitment and loyalty rewarded with further demonstrable progress in its development in the near future."

He certainly has a way with his words and talks the talk, hopefully his actions will speak louder..........

Smart move to get more Greek involvemement - Looks to me that George is overflowing with the right credentials to take this project further. One of these fortunate individuals who is in the right place just at the right time.

Stakeholders/investors/developers should eventually be falling over themselves to get a piece of the project:

*Largest private estate in the Eastern Mediterranean

*Set in the Cavo Sidero 25 sq km Peninsula, with its 28kms of coast with numerous secluded coves and bays

*In an area of outstanding natural beauty with spectacular views

*Permitted build space of 108,000 sq m, plus allowances

*Distinctive locations for hotels and resorts

*Properties can include significant outside space

*Project granted “Strategic investment” status by the Greek Government

*With the benefit of an extremely flexible outline planning permission

*Using less than 0.5% of the land for building

*Endowed naturally with a history spanning the Minoan, Hellenistic, Venetian and Byzantine periods

*30 minutes from Sitia international airport

*Project supported by Municipality of Sitia and 28 unions & trade associations, in addition to the Church and Foundation

*The current design teams include both International and Greek specialists.

*Will contribute a significant number of jobs and economic benefits to the local area and Greece in terms of tourism and competitiveness.

Cor that's a ringing endorsement compared to what you normally have to say!!

25 March 2022

MINOAN GROUP PLC

("Minoan")

George Mergos Appointed Chairman of Loyalward Limited

Minoan is delighted to announce that Professor George Mergos has been appointed Chairman of Loyalward Limited, the Group's wholly owned subsidiary and owner of the Group's Itanos Gaia Project in Crete. This appointment is in addition to George's current role as a director of Minoan.

Christopher Egleton said "As the Project moves toward contracts and commercialisation, it has become increasingly clear that we need someone in the lead role who not only understands the Greek business environment at the most senior level, but with whom all parties in Greece are comfortable dealing. With George's extensive background across the public and private sectors and with his experience in both complex projects and finance, we felt it was time to hand over the role of Chairman of Loyalward, a role that I have performed for over 20 years.

Shareholders should not underestimate the importance of this appointment. It is a significant milestone for both Minoan and the Project, and is testament to the pace of developments over recent months."

George Mergos said "With the Project finally able to move to definitive agreements, which will require contractual relationships to be agreed in order to develop the site at Cavo Sidero, I am delighted to be able to be involved proactively in seeing this unique development finally take shape.

The Project is set in the largest private estate in the Eastern Mediterranean and Minoan's steadfast and patient shareholders can rest assured that I aim to see their commitment and loyalty rewarded with further demonstrable progress in its development in the near future."

Mystery solved - thank you zoolook.
Will be interesting to see if all three trades were investecs.

Yes Patshare I did mean 18p rather than 18%. Tomorrow's rns will be interesting - three trades totalling about 12M after hours @ 16p, they appear to be getting a move on.
Looking forward to seeing where this will all take us.

Seems to me with one or two starting to buy into this that they are going to reach 18% target well before they buyback the 140M shares.
When they buy back another 45M approx DBay's holding will represent about 30%, what will happen then? Do they have to make an offer for the co?

Actually I think it was wrong.
(On looking a bit closer) Pershing Nominees have reduced their holding by 8.5M shares from 3.32% of the total shareholding (then) 702,205,900 shares (23,048,250 shares) down to 2.14% of the (current ) total shareholding 677,663,879 (14,548,250 shares) - the difference between the two being 8.5M shares.
Spreadex have increased their holding by 3,272,160 shares from 5.9744% of the total shareholding (then) 702,205,900 shares (41,952,558 shares) up to 6.6736% of the (current ) total shareholding 677,663,879 (45,224,718 shares) - the difference between the two being 3,272,160 shares.

My take on them Patshare is Pershing Nominees have reduced their holding from 3.32% to 2.14% ie by about 8M shares and Spreadex have increased their holding from 5.9744% to 6.6736%, about 5M shares.
Could be wrong though!!

Sometimes (nearly always) the way the trades are recorded can be misleading. In this day and age you would have thought they would have it better organised showing how many shares were bought in the day and how many were sold but it isnt the case. An example of this is the 202,720 shares sold near the end of the day shown as a buy.