REG - Minoan Group PLC - Update

MinoanAnnouncement

Wed 07:00

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RNS Number : 7191G  Minoan Group PLC  30 April 2025

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.

30 April 2025

Minoan Group Plc

("Minoan" or the "Company")

Update

 

Ahead of the Company's AGM scheduled for 11.00am this morning, the Company
provides a brief update.

 

Suspension of Trading

Further to the announcement issued on 4 April 2025, the Directors of Minoan
confirm that due to insufficient funding, its annual report and accounts for
the year ended 31 October 2024 ("ARA") will not be published by 30 April 2025,
being the deadline for publication under Rule 19 of the AIM Rules for
Companies. Trading of the Minoan's shares on AIM will, therefore, be
temporarily suspended from 7:30am on 1 May 2025 until such time as the ARA is
published.

 

Notwithstanding the temporary suspension of trading in the Company's ordinary
shares, the Company will continue to make announcements as and when required
in accordance with its obligations under the AIM Rules.

 

Proposal

On the same date, the Company announced that an indicative proposal (the
"Proposal") had been received from the secured loan provider, DAGG LLP, to,
among other things, convert certain outstanding loans into Company equity and
inject approximately £4.44 million of new funds into the Company in exchange
for Company Equity. The Board currently expects that the Proposal will be put
before Shareholders at a General Meeting to be convened shortly following
completion of the requisite regulatory preparatory work which is expected to
commence later this week.

 

The Chairman looks forward to meeting shareholders later today at the AGM.

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

Minoan Group
Plc
              mail@minoangroup.com

 

Zeus
                                020 3829 5000

Antonio Bossi / Andrew Andrade
 
 

 

Peterhouse Capital Limited
                 020 7469 0930

Duncan Vasey
 

 

 

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