REG - Minoan Group PLC - Option Expiry Extension and Financing Update

MinoanAnnouncement

06/01/2025 11:45

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RNS Number : 2690S  Minoan Group PLC  06 January 2025

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6 January 2025

Minoan Group Plc

("Minoan" or the "Company")

Option Expiry Extension and Financing Update

Option Expiry Dates

 

As announced previously, certain directors and executives have agreed to
accept options in lieu of their remuneration. These options expired on 31
December 2024. The Minoan Board has decided that it is in the best interest of
the Company to extend the expiry date of those options granted to the
directors Grahame Cook and Timothy Hill and certain other non-Board members.

 

As a result, the expiry dates of options to subscribe for a total of 8,541,025
ordinary shares in the Company ("Ordinary Shares") at 1p per Ordinary Share
(including 762,393 options in respect of Grahame Cook and 1,233,333 options in
respect of Timothy Hill) have been extended to 31 December 2025. All other
terms will remain unchanged.

 

Financing Update

The Company is in discussions with the providers of its only secured debt,
which expired on 31 December 2024, and expects to update shareholders in the
near future.

 

In addition, the discussions with a strategic partner announced in November
2024 continue in a positive manner and the Company expects to be able to
provide a further update during the first quarter of 2025.

 

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

Minoan Group Plc
  mail@minoangroup.com

 

Zeus
                  020 3829 5000

Antonio Bossi / Andrew De Andrade
 

 

Peterhouse Capital Limited                            020 7469
0930

Duncan Vasey
 

 

 

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