20th Oct 2015 12:31
LONDON (Alliance News) - Minoan Group PLC on Tuesday said the process is under way for final approval of its project in Crete.
A draft presidential decree over the Crete project was approved by the Plenum of the Greek Council of State earlier this year, meaning that Minoan is now awaiting final approval. That requires an endorsement from the Greek government before being issued by the president.
"The process for approving the presidential decree is part of previously announced changes to planning procedures, which were put in place to speed up and simplify the previous extremely complex rules and to give investors greater certainty and security. The process for the issuance of the presidential decree requires it to be endorsed by the relevant ministers prior to being issued by the President of the Greek Republic. The company understands that this process is now under way," Minoan said in a statement.
Shares in Minoan were up 21% at 8.90 pence on Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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