Minoan Group PLC Broker Offer (8566Z)
December 20 2017 - 1:00AM
UK Regulatory
TIDMMIN
RNS Number : 8566Z
Minoan Group PLC
20 December 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA, REPUBLIC OF IRELAND, AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
20 December 2017
MINOAN GROUP PLC
("Minoan" or the "Company")
Broker Offer
The Company provides an update on the Subscription and Broker
Offer announced on 18 December 2017. Definitions used in that
announcement have the same meanings in this announcement. The
Company has decided not to pursue the Broker Offer announced on 18
December 2017 as it did not meet expectations. The gross proceeds
of the Subscription were GBP300,000 at 6p per Ordinary Share and,
accordingly, the total number of New Ordinary Shares to be issued
in respect of the Subscription is 5,000,000.
Application will be made for the 5,000,000 Subscription Shares
to be admitted to trading on AIM and Admission and dealings in the
new shares are expected to take place and commence at 8.00 a.m. on
28 December 2017 ("Admission"). The New Ordinary Shares are issued
under the authorities in existence at the close of Minoan's last
Annual General Meeting held on 27 April 2017. Following Admission,
Minoan will have 217,223,442 Ordinary Shares in issue and admitted
to trading on AIM.
The figure, therefore, of 217,223,442 Ordinary Shares may be
used by Shareholders, from the appropriate time, as the denominator
for the calculations by which they will determine whether they are
required to notify their interest in, or a change to their interest
in, the share capital of Minoan under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules. Minoan
holds no Ordinary Shares in treasury.
Following Admission, the fully diluted ordinary share capital of
Minoan will be 325,686,669 Ordinary Shares, taking into account
existing warrants, options and other rights to subscribe for
Ordinary Shares.
Christopher Egleton, Chairman, commented:
"We are pleased to receive shareholder support in this issue.
Conversations are continuing with shareholders and other finance
providers and I expect to update the market on the outcome of these
conversations in the New Year. In the meantime, we will continue to
pursue the sale of the Travel and Leisure business, for which an
indicative proposal has been received, whilst exploring ways to
optimise the Crete Project for the benefit of all
shareholders."
Enquiries:
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
Morgan Rossiter 020 3195 3240
Richard Morgan Evans/James
Rossiter
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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