REG - Minoan Group PLC - Initial Agreement with Hotel Operator

MinoanAnnouncement

01/08/2023 07:00

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RNS Number : 7885H  Minoan Group PLC  01 August 2023

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1 August
2023

Minoan Group Plc

("Minoan" or the "Company")

Initial Agreement with Hotel Operator

Minoan Group Plc, the creator, developer and manager of environmentally
friendly luxury hotels and resorts in Crete, is very pleased to announce that
it has agreed to collaborate with a major international luxury hotel group
(the "Hotel Group"), in relation to one or more of the hotels in Minoan's
Itanos Gaia Project in Crete (the "Project"). The collaboration proposal as
agreed and accepted by Minoan, sets out the outline key financial and other
terms (the "Terms") for the Hotel Group to become the operator and/or manager
of one or more of the hotels. The Terms also include those for the Residences
which will be operated alongside the relevant hotel.

Minoan, through the team within its wholly owned subsidiary Loyalward Limited,
together with the team at the Hotel Group will now commence the more detailed
work necessary in relation to design, specification, and management plans
needed in order to combine the requirements of the Hotel Group and Minoan's
vision for the Project.

Further and more detailed information will be provided over the coming months.

Christopher Egleton, Chairman of Minoan, said:

 

"We are delighted that we have agreed with a major international luxury hotel
group to collaborate in the Project as now envisioned and look forward to a
long and mutually beneficial relationship.

 

This is the first major collaboration on the revised Project and it represents
a significant level of confidence in the Project and in Greece which matches
our own."

 

 

 

For further information visit www.minoangroup.com or contact:

Minoan Group Plc

Christopher Egleton
            christopher.egleton@minoangroup.com

George
Mergos
georgios.mergos@minoangroup.com

 

W H Ireland
Limited
020 7220 1666

Antonio Bossi
 

 

Peterhouse Capital Limited
                               020 7469 0930

Duncan Vasey
 

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