MINOAN GROUP PLC
(the "Group")
Loan Facility Extension
Minoan Group Plc announces the extension from 30 June 2017 to 31 December 2017 of the £5million 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 |
[email protected] |
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.
