REG - Minoan Group PLC - Presidential Decree Issued <Origin Href="QuoteRef">MIN.L</Origin>

MinoanAnnouncement

11/03/2016 15:00

RNS Number : 8896R
Minoan Group PLC
11 March 2016
11 March 2016
MINOAN GROUP PLC
(the "Group" or "Minoan")
Presidential Decree Issued
Minoan Group Plc is pleased to announce that the Presidential Decree ("PD") granting land use approval for its project in Crete (the "Project") has been issued.
The President of the Hellenic Republic of Greece, Mr Prokopios Pavlopoulos has signed the decree and it has been published in the Government Gazette today. The planning rules for the Project are now enshrined in law.
Christopher Egleton, Minoan Chairman, commented:
"The issue of the PD is a transformational event for the Group and means that Minoan is in a position to accelerate discussions related to the development of the Project. Shareholders will be aware that the last opinion of the development value of the Project site was in the order of 100 million (as per the estimate dated 27 June 2011, which was reaffirmed in March 2012) and the Board will now be working to deliver maximum value. 
For further information please visit www.minoangroup.comor contact: 
Minoan Group Plc

Christopher Egleton 
christopher.egleton@minoangroup.com
Duncan Wilson
0141 226 2930
Bill Cole
020 8253 4305


WH Ireland Limited
020 7220 1666
Adrian Hadden/Mark Leonard



Throgmorton Street Capital
020 7071 0808
Forbes Cutler



Morgan Rossiter 
020 3195 3240
Richard Morgan Evans/James Rossiter


This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCAKDDPQBKDCND