REG - Minoan Group PLC - Shareholder Update

MinoanAnnouncement

10/11/2023 07:00

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RNS Number : 0127T  Minoan Group PLC  10 November 2023

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

10 November 2023

 

Minoan Group Plc

("Minoan" or "the Company")

 
Update

 

Minoan Group Plc, the creator and developer of environmentally friendly luxury
hotels and resorts in Crete, will hold its Re-convened Annual General Meeting
and its General Meeting today. Ahead of these meetings the Company is
providing a brief update to shareholders.

 

Minoan is having frequent discussions with the Public Welfare Ecclesiastical Foundation Panagia Akrotiriani (the "Foundation") on an updated agreement concerning the Company's Itanos Gaia Project (the "Project"). The Company will update shareholders regularly on progress towards  a conclusion. Alongside this, the team is moving forward with the environmental studies required as part of the final planning process. Both actions are assisting in the discussions on the final format and shape of the initial agreement with the first of the hotel groups.

 

Further, as part of the ongoing commercial activities, the Company can report
that in recent weeks it has had a number of discussions regarding third
parties taking meaningful interests in the Project. These discussions are
being actively pursued and, if successful, the Company will make the
appropriate announcements in due course.

 

The Board looks forward to welcoming shareholders at the General Meetings.

 

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

 Minoan Group Plc
 Christopher Egleton         christopher.egleton@minoangroup.com
 George Mergos               georgios.mergos@minoangroup.com

 WH Ireland Limited          020 7220 1666
 Antonio Bossi

 Peterhouse Capital Limited  020 7469 0930
 Duncan Vasey

 

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