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.

6 January 2025

Minoan Group Plc
("Minoan" or the "Company")

Option Expiry Extension and Financing Update

Option Expiry Dates

As announced previously, certain directors and executives have agreed to accept options in lieu of their remuneration. These options expired on 31 December 2024. The Minoan Board has decided that it is in the best interest of the Company to extend the expiry date of those options granted to the directors Grahame Cook and Timothy Hill and certain other non-Board members.

As a result, the expiry dates of options to subscribe for a total of 8,541,025 ordinary shares in the Company ("Ordinary Shares") at 1p per Ordinary Share (including 762,393 options in respect of Grahame Cook and 1,233,333 options in respect of Timothy Hill) have been extended to 31 December 2025. All other terms will remain unchanged.

Financing Update

The Company is in discussions with the providers of its only secured debt, which expired on 31 December 2024, and expects to update shareholders in the near future.

In addition, the discussions with a strategic partner announced in November 2024 continue in a positive manner and the Company expects to be able to provide a further update during the first quarter of 2025.

For further information visit www.minoangroup.com or contact:

Minoan Group Plc                                            [email protected]

Zeus                                                                    020 3829 5000
Antonio Bossi / Andrew De Andrade                                      

Peterhouse Capital Limited                            020 7469 0930

Duncan Vasey