REG - Minoan Group PLC - George Mergos Appointed Chair of Loyalward Limited

MinoanAnnouncement

25/03/2022 11:30

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RNS Number : 0831G  Minoan Group PLC  25 March 2022

 

 

 

 

 

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
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25 March 2022

MINOAN GROUP PLC

("Minoan")

 

George Mergos Appointed Chairman of Loyalward Limited

Minoan is delighted to announce that Professor George Mergos has been
appointed Chairman of Loyalward Limited, the Group's wholly owned subsidiary
and owner of the Group's Itanos Gaia Project in Crete. This appointment is in
addition to George's current role as a director of Minoan.

Christopher Egleton said "As the Project moves toward contracts and
commercialisation, it has become increasingly clear that we need someone in
the lead role who not only understands the Greek business environment at the
most senior level, but with whom all parties in Greece are comfortable
dealing. With George's extensive background across the public and private
sectors and with his experience in both complex projects and finance, we felt
it was time to hand over the role of Chairman of Loyalward, a role that I have
performed for over 20 years.

Shareholders should not underestimate the importance of this appointment. It
is a significant milestone for both Minoan and the Project, and is testament
to the pace of developments over recent months."

George Mergos said "With the Project finally able to move to definitive
agreements, which will require contractual relationships to be agreed in order
to develop the site at Cavo Sidero, I am delighted to be able to be involved
proactively in seeing this unique development finally take shape.

The Project is set in the largest private estate in the Eastern Mediterranean
and Minoan's steadfast and patient shareholders can rest assured that I aim to
see their commitment and loyalty rewarded with further demonstrable progress
in its development in the near future."

For further information please visit www.minoangroup.com
(http://www.minoangroup.com) or contact:

 Minoan Group Plc
 Christopher Egleton              christopher.egleton@minoangroup.com
 Bill Cole                        william.cole@minoangroup.com

 WH Ireland Limited               020 7220 1666
 James Joyce/Megan Liddell

 Sapience Communications Limited  020 3195 3240
 Richard Morgan Evans

 

 

 

 

 

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