Minoan Regulatory News (MIN)

7 August 2014

Minoan Group Plc

("Minoan", the "Group" or the "Company")

Increase in Warrant price, Warrant and Share Issue

Warrant Issue

Minoan is pleased to announce that, reflecting the progress made by the Group, the exercise price in respect of Warrants to be issued under the terms of the facility agreement with Hillside International Holdings Limited (the "Lender"), previously announced on 17 October 2013, has been increased from 8p to 13p per share.

Under the revised terms of the Loan Facility, Warrants to subscribe for 10,000,000 ordinary shares of 1p each in the Company have been granted to the Lender at the amended price of 13p per share.

Share Issue

Further to the announcement on 12 February 2014, certain lenders have chosen to be repaid in shares. As a result the Company is issuing, conditional upon admission to AIM, 3,245,132 new ordinary shares of 1p each in the Company ("Ordinary Shares") at 8.5 pence per share.

Application has been made for the Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place on 13 August 2014. 

Following Admission of the Ordinary Shares, there will be a total of 174,994,836 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Minoan under the FCA's Disclosure and Transparency Rules.

For further information visit www.minoangroup.com or contact: