REG - Minoan Group PLC - Update and Option Expiry Dates

MinoanAnnouncement

05/01/2023 07:00

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RNS Number : 7243L  Minoan Group PLC  05 January 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.

5 January 2023

Minoan Group Plc

(the "Company" or "Minoan")

Update and Option Expiry Dates

Update

The Board expects to conclude constructive discussions over the Company's
secured debt with DAGG LLP shortly, and looks forward to updating shareholders
in due course.

 

At the same time, the Company expects to be able to provide an update on the
progress of its discussions regarding the Project including the commercial and
financial activities as referred to in its announcement of 9 December 2022.

 

Option Expiry Dates

Shareholders are aware from previous announcements that, historically, certain
directors and executives have agreed to accept options in lieu of their
remuneration. These options were due to expire on 31 December 2022. Minoan's
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, former director Barry Bartman and certain others who are not on the
Board.

 

As a result, the expiry dates of options to subscribe for a total of
11,252,136 ordinary shares (including 762,393 in respect of Grahame Cook and
1,233,333 in respect of Timothy Hill) in the Company at 1p per share have been
extended to 31 December 2023.

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 / Enzo Aliaj
 
 

 

Peterhouse Capital Limited
          020 7469 0930

Duncan Vasey
 
 

 

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