5 April 2013
Minoan Group Plc
("Minoan" or "the Company"
Withdrawal of Appeals
Minoan Group Plc, the AIM listed travel and leisure company, is pleased to announce that the appeals lodged with the Council of State against the decision of the Interministerial Committee for Strategic Investments to include our project in Crete (the "Project") in Fast Track have now been withdrawn.
The plaintiff's lawyers withdrew the appeals after their request for a postponement of the hearing of the case was rejected by the Plenum of Greece's Supreme Administrative Court, the Council of State.
Christopher Egleton, Chairman of Minoan, commented:
We are delighted by today's outcome and believe that this illustrates the new reality that exists in Greece. This result reaffirms the Project's Fast Track status.
Work on the various studies necessary for the environmental approval of the Project has continued and these will now be submitted as soon as possible.
The Greek Government has expressed its intention to move forward quickly with strategic investments it considers vital for the country and we look forward to updating the market with further positive news from Greece in the coming weeks and months.
For further information visit www.minoangroup.com or contact:
Minoan Group Plc |
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Christopher Egleton |
[email protected] |
Duncan Wilson |
0141 226 2930 |
Bill Cole |
020 8253 4305 |
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WH Ireland Limited |
020 7220 1666 |
Adrian Hadden/Nick Field |
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Throgmorton Street Capital |
020 7071 0808 |
Forbes Cutler |
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Morgan Rossiter |
0203 195 3240 |
Richard Morgan Evans/James Rossiter |
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