REG - Minoan Group PLC - Update

MinoanAnnouncement

02/07/2018 08:05

RNS Number : 2096T
Minoan Group PLC
02 July 2018
 


 
Minoan Group Plc
(the "Company")
 
Update
 
Sale of Stewart Travel Limited ("STL")
 
The Board expects that the Company will be in a position to exchange contracts in respect of the sale of STL in the next few weeks. Further, it understands that no issues have arisen during financial and commercial due diligence. A general meeting will be called immediately after exchange in order that shareholders can approve the transaction.
 
Loan Facility Extension
 
The Company announced on 14 December 2017 that its debt facility with Hillside International Holdings Limited ("Hillside") had been extended to 30 June 2018. The Company is in constructive discussions with Hillside with a view to further extending the facility to reflect the expectation of a successful sale of STL in the near future subject to shareholder approval, which is expected to provide the funds to settle the Hillside facility.
 
The Company will provide a further update on the progress of these discussions in due course.
 
 




Minoan Group Plc


 




Christopher Egleton


christopher.egleton@minoangroup.com




Duncan Wilson


duncan.wilson@minoangroup.com




Bill Cole


william.cole@minoangroup.com




 


 




WH Ireland Limited


020 7220 1666




Adrian Hadden/Alex Bond


 




 


 




Cornhill Capital Limited


020 7710 9610




Daniel Gee


 




 


 




Morgan Rossiter


020 3195 3240




Richard Morgan Evans/James Rossiter


 




 




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