Minoan Group PLC Update (2096T)
July 02 2018 - 2:01AM
UK Regulatory
TIDMMIN
RNS Number : 2096T
Minoan Group PLC
02 July 2018
Minoan Group Plc
(the "Company")
Update
Sale of Stewart Travel Limited ("STL")
The Board expects that the Company will be in a position to
exchange contracts in respect of the sale of STL in the next few
weeks. Further, it understands that no issues have arisen during
financial and commercial due diligence. A general meeting will be
called immediately after exchange in order that shareholders can
approve the transaction.
Loan Facility Extension
The Company announced on 14 December 2017 that its debt facility
with Hillside International Holdings Limited ("Hillside") had been
extended to 30 June 2018. The Company is in constructive
discussions with Hillside with a view to further extending the
facility to reflect the expectation of a successful sale of STL in
the near future subject to shareholder approval, which is expected
to provide the funds to settle the Hillside facility.
The Company will provide a further update on the progress of
these discussions in due course.
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
Duncan Wilson duncan.wilson@minoangroup.com
Bill Cole william.cole@minoangroup.com
WH Ireland Limited 020 7220 1666
Adrian Hadden/Alex Bond
Cornhill Capital Limited 020 7710 9610
Daniel Gee
Morgan Rossiter 020 3195 3240
Richard Morgan Evans/James Rossiter
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END
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