Last checked at 17 Feb 2012 07:00
17 February 2012
Minoan Group Plc
("Minoan" or the "Company")
Placing and Share Issue
Minoan Group Plc, the AIM listed travel and leisure company is pleased to announce that it has successfully placed 4,031,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 5.5 pence per share with an institutional investor raising £221,705 before expenses in order to provide additional working capital for the Company's business.
In addition, and in order to satisfy certain existing commitments, Minoan has agreed to issue 2,000,000 new Ordinary Shares at a price of 7.5 pence per share.
The Directors' beneficial shareholdings are 1,841,223 Ordinary Shares, representing 1.69% of the issued share capital as enlarged following this placing and share issue.
Application has been made for the 6,031,000 new ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 23February 2012. Following Admission, there will be a total of 108,988,139 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 FSA's Disclosure and Transparency Rules.
Options
Under the terms of the placing, Minoan has also issued Options to subscribe for up to 201,550 Ordinary Shares at a price of 5.5 pence per share. The Options will expire on 16 February 2015.
For further information visit www.minoangroup.comor contact:
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
Bill Cole 020 8253 4305
Seymour Pierce Limited 020 7107 8000
Nicola Marrin/David Foreman (Corporate Finance)
Rivington Street Corporate Finance Limited 020 7562 3384
Jon Levinson
Bishopsgate Communications Limited 020 7562 3350
Nick Rome/Shabnam Bashir