7th Aug 2014 10:42
LONDON (Alliance News) - Travel and leisure company Minoan Group PLC Thursday said it will issue just under 2.25 million new shares at 8.5 pence each.
Minoan shares were down 2.5% at 12.07 pence before midday Thursday.
In the same statement, Minoan said the exercise price of its loan facility with Hillside International Holdings Ltd has been increased to 13 pence per share, from 8 pence.
It said those warrants cover 10 million shares.
The travel company is currently planning to build a luxury holiday resort on a 26 square kilometre site at Cavo Sidero in Crete, comprising holiday villages, golf courses, a marina, and a conference centre.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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