Share Issue, Change to Significant Shareholding

RNS Number : 8817Q
Minoan Group PLC
18 October 2013
 



18 October 2013

Minoan Group Plc

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

                                                                                    

Share Issue, Change to Significant Shareholding

 

Share Issue

 

Following the progress in both of Minoan's trading divisions, the Board has decided to exercise its option to redeem various Group loans and to satisfy certain existing liabilities by the issue of new ordinary shares of 1p each ("Ordinary Shares") subject to admission on AIM.

 

As a consequence a total of 9,487,775 Ordinary Shares, as set out below, will be issued in accordance with certain loan agreements:

 

Number of Ordinary Shares

Issue price per Ordinary Share

7,800,000

   8.0p

1,687,775

   9.4p

 

In addition, a total of 1,144,834 Ordinary Shares, as set out below, will be issued to settle certain existing liabilities:

 

Number of Ordinary Shares

Issue price per Ordinary Share

967,442

5.375p

177,392

5.75p

 

Application has been made for the 10,632,609 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 24 October 2013. Following Admission, there will be a total of 161,465,704 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Minoan under the FSA's Disclosure and Transparency Rules.

 

Change to Significant Shareholding

 

Minoan was notified today that SF Webb Capital Smaller Companies Growth Fund is now the beneficial holder of 4,310,407 ordinary shares of 1p each ("Ordinary Shares") in the Company, which represents less than 3% of the Ordinary Shares in issue.

 

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

Minoan Group Plc


Christopher Egleton

christopher.egleton@minoangroup.com

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 3195 3240

Richard Morgan Evans/James Rossiter




 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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