18th Jul 2022 10:43
Minoan Group PLC - Surrey-based Greek hotel investor - Signs eight month extension for the repayment date of its only secured debt. Notes loan with Dagg LLP now extended to end of 2022, for fee of GBP150,000, which will be settled through issue of shares at 1 pence each. Also notes 35.0 million warrants owned by Dagg will be converted on December 31, at a price of 1.4p.
Says outstanding amount on loan at April 30 was GBP1.3 million.
Chair Christopher Egleton says: "We are pleased to have been able to agree this extension to the loan to cover a period during which we expect the company's project in Crete to reach a definitive stage in its development."
Current stock price: 1.04 pence, up 9.0% on Monday
12-month change: up sharply from 0.013p
By Paul McGowan; [email protected]
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