Minoan Group PLC Loan Facility Extension (7493J)
June 30 2017 - 5:30AM
UK Regulatory
TIDMMIN
RNS Number : 7493J
Minoan Group PLC
30 June 2017
MINOAN GROUP PLC
(the "Group")
Loan Facility Extension
Minoan Group Plc announces the extension from 30 June 2017 to 31
December 2017 of the GBP5million 8% Loan Facility dated 16 October
2013 from Hillside International Holdings Limited.
The other terms of the Loan Facility remain unaltered with the
exception that 10 million of the 50 million Warrants to subscribe
for Ordinary Shares of 1p each in issue, which were previously
exercisable at 13 pence per share, are now exercisable at 8 pence
per share in line with the other 40 million Warrants and all
Warrants now have an expiry date of 23 October 2020.
Christopher Egleton, Minoan Chairman, commented,
"The extension of the Loan Facility, together with the recently
announced dismissal of the appeals against the Presidential Decree
granting outline planning consent for the Group's project in Crete,
will greatly assist the Board as it continues with its stated
intention to provide value for all stakeholders."
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/Alex Bond
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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