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17 Jul 2008 07:00
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17Ā July 2008
Minoan Group Plc ("Minoan" or "the Company")Ā
PlacingĀ and Directors' Dealings
Minoan GroupĀ Plc,Ā theĀ AIM-quoted leisure resortĀ developer,Ā hasĀ placedĀ 3,868,653Ā NewĀ Ordinary SharesĀ at 30Ā penceĀ per shareĀ with a combination of existing shareholders and new investorsĀ raising Ā£1,160,595.Ā
The number of shares aboveĀ includesĀ 146,668Ā NewĀ Ordinary SharesĀ to DirectorsĀ as follows:
|
Director |
New Ordinary Shares acquired |
New beneficial holding |
Percentage of increased issued share capital |
|
B D Bartman |
20,000 |
53,500 |
0.10 |
|
G T Brown |
33,334 |
352,095 |
0.65 |
|
G D Cook |
33,334 |
834,396 |
1.54 |
|
C W Young |
60,000 |
413,482 |
0.76 |
In addition the Company hasĀ agreed to issueĀ 947,336Ā New Ordinary Shares atĀ 30Ā pence per share in order to satisfy certain existing commitments in respect of its project at Cavo Sidero in North Eastern Crete.
Following these issues, the total number of Ordinary Shares in issue isĀ 54,148,031Ā of whichĀ theĀ totalĀ Directors' beneficial holdings areĀ 3.98%.
ApplicationĀ hasĀ beenĀ made for theĀ 4,815,989Ā New Ordinary Shares to be admitted to trading onĀ AIM. It is expected that the admission will be effective fromĀ 22Ā JulyĀ 2008.
Minoan Executive Chairman, Christopher Egleton commented:
"WeĀ welcomeĀ the continued support of shareholders and the support from new investors in funding theĀ Company during the extended appeal processĀ whilst allowing it to continue preparations for the commencement of developing the site at Cavo Sidero.
TheĀ BoardĀ remainsĀ encouragedĀ by the recent passing of the National LandĀ Plan through the Greek Parliament".
For further information visitĀ www.minoangroup.comĀ or contact:Ā
Christopher Egleton Minoan Group Plc 07808 722022Ā
Bill Cole Minoan GroupĀ Plc 01689 897397
Jeremy Garrett-Cox/Nicola Marrin SeymourĀ Pierce Limited 020 7107 8000
NickĀ Rome/NickĀ Farmer Bishopsgate Communications Ltd 020 7562 3350
Alan Frame WestportĀ Communications Ltd 020 7404 7878
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