Member Info for Bigwil7

Greek parliament approves 2020 budget, projects stronger growth

http://www.ekathimerini.com/247729/article/ekathimerini/news/greek-parliament-approves-2020-budget-projects-stronger-growth

Greek lawmakers approved on Wednesday the country’s 2020 budget, which projects stronger growth driven by higher investment, improving domestic demand and tax cuts as the country recovers from a decade-long debt crisis.

My view has changed FWIW since the new govt were elected earlier on this year although market conditions re tourism and tourist related assets were already starting to improve. The levels of investment piling into tourist related projects in the past few months has increased considerably, however this time a year ago they were very thin on the ground. A year ago following on from the sale of the T&L business I was quite concerned for the future of the company but that's all changed for the better in the last few months. IMV its early days in terms of the opportunity to negotiate a good deal, it wasn't there in the past (with hindsight) but it most certainly now is. And with the new govt comes much more interest and much more competition thus the opportunity for realising a good deal.
Its a complex project so needs time to achieve a good deal. Its the first time the Bod have set a date being this next quarter - they have all piled in and upped their investment in the company so this time might well be forthcoming with that ever elusive deal, creating considerable shareholder value.
All my view and the customary throwaway comments and troll-like insults from Arsenal and whoever else for that matter will not change it one iota.

11 December 2019
MINOAN GROUP PLC

Update
Minoan's Board has been actively exploring interest from a range of serious parties operating within inter alia, the UK, the Middle and Far East as well as Greece. The Board is now considering a number of different types of commercial transactions with a view to entering into more formal arrangements. Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress.
The interest outlined has arisen against a steadily improving background to the business climate in Greece and the efforts of the Government to promote development in the tourism sector with particular reference to strategic projects, of which the Company's project in Crete is one.

New property tax cut on the way

http://www.ekathimerini.com./247719/article/ekathimerini/business/new-property-tax-cut-on-the-way

Implementing its pre-election pledges earlier than originally announced, the government will proceed with a new reduction in the ENFIA property tax in 2020.

Speaking in Parliament on Wednesday, the third and final day of debate to approve next year’s budget, Prime Minister Kyriakos Mitsotakis said that when next year’s budget is voted on, the reduction will be by an average rate of 8 percent, while overall cuts in the two-year period 2019-20 will reach 30 percent.

EBRD ‘Green Funding’ to Back Hellinikon Project

https://news.gtp.gr/2019/12/20/ebrd-green-funding-to-back-hellinikon-project/

According to Lamda Development, Hellinikon is “a big step forward for Greece, a project that will turn Athens into a global investment, tourist, entertainment and cultural destination”.

No one will ever believe you if you always come up short of the truth.

Its share sales leading by a very short head this month - Buys 3,420,172 and sells 3,471,584. Started of this month 1.5p/1.8p so still an improvement so far albeit today was a bit of a disaster leaving us at 1.8p/2.3p.

Good to see you are benefitting already from the anger management course!

11 December 2019
MINOAN GROUP PLC

Update
Minoan's Board has been actively exploring interest from a range of serious parties operating within inter alia, the UK, the Middle and Far East as well as Greece. The Board is now considering a number of different types of commercial transactions with a view to entering into more formal arrangements. Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress.
The interest outlined has arisen against a steadily improving background to the business climate in Greece and the efforts of the Government to promote development in the tourism sector with particular reference to strategic projects, of which the Company's project in Crete is one.

Lamda Development: Specifically, the SCI was subscribed by approximately 1.1 times as investor demand amounted to 105,737,572 shares. 99.14 pct was covered by subscriptions by investors exercising the pre-emption right with the payment of a total amount of 644,415,560.90 euros corresponding to 96,181,427 new common registered voting shares.

https://www.businessdaily.gr/english-edition/7148_lamda-development-full-coverage-share-capital-increase-cash

Banks given more room to make money on bonds

https://www.businessdaily.gr/english-edition/7173_banks-given-more-room-make-money-bonds

Greek banks have been given the green light to boost investments in bonds, in a move seen helping boost their profitability and lowering borrowing costs for Greece. The decision was made in a meeting between Greek Prime Minister Kyriakos Mitsotakis and the head of the European Central Bank Christine Lagarde in Frankfurt late Tuesday. It will take effect as of February.

Interministerial Committee on Strategic Investments approves six strategic projects of 1.05 bln euros

https://www.businessdaily.gr/english-edition/7062_interministerial-committee-strategic-investments-approves-six-strategic

Deputy Foreign Minister Kostas Fragogiannis spoke of "new strategic investments by the foreign ministry and Enterprise Greece in full coordination with the ministry of development and investments, the ministry of [environment and energy] and the ministry of tourism".

The six investment projects approved are mainly in the tourism and renewable energy sectors.

Seems to me someone has sneaked in another £100,000 cash buy in the subscription and open offer.

10/5/19 "The payment of £310,000 in connection with the Firm Subscription will follow Admission, and subsequent announcements will be made in due course in relation to the issue of 11,272,727 New Ordinary Shares to be made in connection with such payments".

10/06/19 Following the successful conclusion of the Firm Subscription and Open Offer, as approved at the General Meeting of 10 May 2019 (“General Meeting”) and as referred to in the announcement on the same day, the Company has issued 7,636,364 ordinary shares of 1p each in respect of the Firm Subscription received to date post the General Meeting (“New Ordinary Shares”).

11/12/19 The Board is pleased to announce the conclusion of the Firm Subscription for cash referred to in its announcement on the 10 May 2019 as a result of which, the Company has issued a further 7,272,728 ordinary shares of 1p each (“New Ordinary Shares”) at 2.75p per share.

That comes to an additional 3,636,365 shares at 2.75p £100,000.

All good news.

A ringing endorsement to the project:

N Day a director of Loyalward the company set up for the sole purpose of the Cavo Sidero project was once again one of those that added shares in the recent share subscription to the tune of £100,000.

Shareholding today 58,290,376 and previously it was 54,654,012 adding 3,636,364 shares @ 2.75p £100,000.

11 December 2019
MINOAN GROUP PLC

Update
Minoan's Board has been actively exploring interest from a range of serious parties operating within inter alia, the UK, the Middle and Far East as well as Greece. The Board is now considering a number of different types of commercial transactions with a view to entering into more formal arrangements. Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress.
The interest outlined has arisen against a steadily improving background to the business climate in Greece and the efforts of the Government to promote development in the tourism sector with particular reference to strategic projects, of which the Company's project in Crete is one.

Deputy FM Fragogiannis meets Qatari leadership, businessmen in Doha

https://www.businessdaily.gr/english-edition/6981_deputy-fm-fragogiannis-meets-qatari-leadership-businessmen-doha

"We are strengthening our relationship with the business community of Qatar interesting in investing in Greece, and initiating an approach to the country's political leadership," the minister said to Greek press during the forum's second and last day.

He said interest seemed to focus on tourism, shipping, real estate and energy.

Greek Investments Minister discusses Hellenic-German Economic Forum in Berlin

https://www.tornosnews.gr/en/tourism-businesses/new-investments/38104-greek-investments-minister-discusses-hellenic-german-economic-forum-in-berlin.html

A "good first step" towards establishing a fresh business environment in Greece, is how Investments and Development Minister Adonis Georgiadis described his two-day visit in Berlin.

ND government: Greece is back and foreign investors showing interest again

https://www.tornosnews.gr/en/tourism-businesses/new-investments/38043-nd-government-greece-is-back-and-foreign-investors-showing-interest-again.html

Investors at Greek roadshows in London and New York showed renewed interest with New Democracy taking power this summer and wooing them after the former ruling anti-business Radical Left SYRIZA scared them off with big corporate tax hikes.

Sources told Kathimerini that a Greek Banks Mini-Conference by Autonomous Research and the Greek 1×1 Conference by Goldman Sachs showed Greece is no more an “emerging” market for foreign institutional investors, with local stocks (mainly banks) increasingly coming into the focus of the global investor community.

The paper said that’s due largely to the significant narrowing of bond yield spreads, and the fact that investors have stopped seeing Greece as a high-risk country although it’s not yet been able to make a full return to the markets.

Athens tourism developer to operate first hybrid floating hotel in Greece

https://www.tornosnews.gr/en/tourism-businesses/new-investments/38079-athens-property-and-tourism-developer-to-operate-first-hybrid-floating-hotel-in-greece.html

Athens-based Dolphin Capital Partners (DCP) this week announced a 50-million-euro investment to operate a floating hybrid hotel in Greece, reportedly the first such endeavor in the tourism-developed east Mediterranean country

It won't be too long before they achieve their aims - in the meantime I would politely suggest you enrol on an anger-management course!!

11 December 2019
MINOAN GROUP PLC

Update
Minoan's Board has been actively exploring interest from a range of serious parties operating within inter alia, the UK, the Middle and Far East as well as Greece. The Board is now considering a number of different types of commercial transactions with a view to entering into more formal arrangements. Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress.
The interest outlined has arisen against a steadily improving background to the business climate in Greece and the efforts of the Government to promote development in the tourism sector with particular reference to strategic projects, of which the Company's project in Crete is one.