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17 Jul 2008 07:00

17Â July 2008
Minoan Group Plc ("Minoan" or "the Company")Â
Placing and Directors' Dealings
Minoan Group Plc, the AIM-quoted leisure resort developer, has placed 3,868,653 New Ordinary Shares at 30 pence per share with a combination of existing shareholders and new investors raising ÂŁ1,160,595.Â
The number of shares above includes 146,668 New Ordinary Shares to Directors 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 has agreed to issue 947,336 New Ordinary Shares at 30 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 is 54,148,031 of which the total Directors' beneficial holdings are 3.98%.
Application has been made for the 4,815,989 New Ordinary Shares to be admitted to trading on AIM. It is expected that the admission will be effective from 22 July 2008.
Minoan Executive Chairman, Christopher Egleton commented:
"We welcome the continued support of shareholders and the support from new investors in funding the Company during the extended appeal process whilst allowing it to continue preparations for the commencement of developing the site at Cavo Sidero.
The Board remains encouraged by the recent passing of the National Land Plan through the Greek Parliament".
For further information visit www.minoangroup.com or contact:Â
Christopher Egleton Minoan Group Plc 07808 722022Â
Bill Cole Minoan Group Plc 01689 897397
Jeremy Garrett-Cox/Nicola Marrin Seymour Pierce Limited 020 7107 8000
Nick Rome/Nick Farmer Bishopsgate Communications Ltd 020 7562 3350
Alan Frame Westport Communications Ltd 020 7404 7878
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