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3 Oct 2016 07:00
3 October 2016
MINOAN GROUP PLC
(the "Group")
Loan Facility Extension
Minoan Group Plc announces the extension of the Loan Facility with Hillside International Holdings Limited ("Hillside") from 31 October 2016 to 30 June 2017.
The expiry dates of the Warrants issued in accordance with the terms of the Loan Facility have been extended by one year to the dates shown below:
Ordinary Shares of 1p each | Expiry date | |
Exercisable at 8 pence per share | 10,000,000 | 17/10/18 |
Exercisable at 8 pence per share | 5,000,000 | 27/11/18 |
Exercisable at 8 pence per share | 10,000,000 | 05/02/19 |
Exercisable at 13 pence per share | 10,000,000 | 07/08/19 |
Exercisable at 8 pence per share | 5,000,000 | 30/04/20 |
Exercisable at 8 pence per share | 5,000,000 | 28/05/20 |
Exercisable at 8 pence per share | 5,000,000 | 23/10/20 |
50,000,000 |
Christopher Egleton, Minoan Chairman, commented:
"The extension to the Loan Facility will greatly assist the Group as it moves forward."
For further information please visit www.minoangroup.com or contact:
Minoan Group Plc | |
Christopher Egleton | christopher.egleton@minoangroup.com |
Duncan Wilson | 0141 226 2930 |
Bill Cole | 020 8253 4305 |
WH Ireland Limited | 020 7220 1666 |
Adrian Hadden/Nick Prowting | |
Throgmorton Street Capital | 020 7071 0808 |
Forbes Cutler | |
Morgan Rossiter | 020 3195 3240 |
Richard Morgan Evans/James Rossiter |
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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