Strategic Environmental Assessment Submitted

RNS Number : 2208W

Minoan Group PLC

23 December 2013

 



23 December 2013

Minoan Group Plc

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

 

Strategic Environmental Assessment ("SEA") Submitted

SEA Submission

Minoan Group Plc is pleased to announce that it has submitted the SEA for its project in Crete (the "Project") to the relevant authorities.

Christopher Egleton, Minoan Chairman, commented:

"I am delighted that after a considerable amount of work by the Group's staff and consultants the SEA has now been completed. This is a major step for the Company and is the fulfillment of more than a year of preparation.

As announced previously, the SEA will be assessed under the new Article 24 of the Fast Track Laws and the directors remain confident that this key approval for the Project, the equivalent of outline planning consent, will be granted in due course".

Share Issue

Under the terms of the acquisition of Stewart Travel Centre, as announced on 16 March 2012, a Convertible Loan Note ("Loan Note") in the amount £225,000 was issued repayable, at the noteholder's choice, either in cash or in fully paid up ordinary shares of 1p each in Minoan ("Ordinary Shares") at 7.5 pence per share. The final repayment date of the Loan Note has been extended to 31 December 2014.

In response to a request from the noteholder, the Minoan Board has agreed to settle £56,250 of the Loan Note by the issue 750,000 Ordinary Shares in the Company, subject to admission to AIM.

Accordingly, application has been made for the 750,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 31 December 2013. Following Admission, there will be a total of 166,024,704 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 FCA's Disclosure and Transparency Rules.

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 3195 3240
Richard Morgan Evans/James Rossiter

 

END

 

 

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