SEA Enters Public Consultation, Management Changes

RNS Number : 4082A

Minoan Group PLC

19 February 2014

 



19 February 2014

Minoan Group Plc

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

 

Strategic Environmental Assessment enters Public Consultation, Management Changes

Strategic Environmental Assessment ("SEA")

Minoan is pleased to announce that the first stage of the evaluation of the SEA for its project in Crete (the "Project") is now complete. Following this the SEA is now officially available for public consultation, which includes the relevant ministries and other competent authorities, for their comments. All comments must be received by the end of March.

Following this, a Presidential Decree will be prepared and gazetted. The Presidential Decree will set out the development zones for the Project as approved under the Fast Track legislation.

Board and Management Changes

Minoan announces that Barry Bartman (72), the Group Finance Director, has confirmed his intention to retire from that role with effect from 28 February 2014 but he will remain on the Board as a Non-Executive Director of the Company.

The Group has commenced the process for recruiting a new Group Finance Director.  In the intervening period the Board continues to be supported by the existing finance team below main board level and will continue to benefit from Mr. Bartman's advice and oversight as a Non-Executive Director. Mr. Bartman first joined the Board in March 2006.

The Company is also pleased to announce the strengthening of its management team with the confirmation of the appointment of Philip Poile, formerly Group Purchasing Director of Thomas Cook UK. Mr. Poile's role within the Group will include, but not be limited to, advising on the potential strategic hotel partners for the Project and the exploration of other hotel opportunities in Greece.

Christopher Egleton, Minoan Chairman, commented:

"On behalf of the Board I thank Barry for the invaluable contribution he has made to the Group during his tenure as finance director, and I am pleased that he will remain on the Board as Non-Executive Director so that the Group may continue to benefit from his wide experience, knowledge and insight. We are fortunate to have a depth of financial experience at management level across the Group while we recruit a new finance director.

We are delighted that Philip Poile has joined the Group. Philip's background and expertise are a valuable addition to the Minoan management team, particularly in respect of our operations in Greece.

I am delighted that the SEA is now available for public consultation and that this procedure should be finished by 31 March 2014. The protocol required to issue the Presidential Decree will then follow. In light of the recent progress made, we can move forward with confidence to the next stages of preparing for the onsite development, commercialising and cementing the significant value of the Project."

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

Minoan Group Plc
Christopher Egleton	[e-mail]
Duncan Wilson	0141 226 2930
Bill Cole	020 8253 4305
WH Ireland Limited	020 7220 1666
Adrian Hadden/Nick Field
Throgmorton Street Capital	020 7071 0808
Forbes Cutler
Morgan Rossiter	020 7629 9101
Richard Morgan Evans/James Rossiter

 

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