27th Jul 2016 07:55
LONDON (Alliance News) - Minoan Group PLC on Wednesday said it is issuing 3.0 million shares at 8.00 pence per share to settle "certain existing liabilities".
Shares in Minoan were down 8.9% at 7.40p on Wednesday morning.
The travel agency operator and holiday resort developer said it had made an application for the 3.0 million shares to be admitted to trading on AIM, and expects the admission of the shares will be effective from next Tuesday.
This comes two weeks after Minoan said its pretax loss widened to GBP1.1 million in the six months ended April 30, from GBP759,000 in the same period the year before, as it booked higher finance costs and operating expenses.
By Hannah Boland; [email protected]; @Hannaheboland
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