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.
3 May 2022
Minoan Group Plc
("Minoan" or the "Company")
Placing and Director / PDMR Shareholding
The Directors of Minoan are pleased to announce a successful placing of Ordinary Shares arranged by Peterhouse Capital Limited (the "Placing"). 40,000,000 Ordinary Shares of 1p each are to be issued at 1p per share raising £400,000. In addition, three of the Company's Directors are subscribing for 12,000,000 Ordinary Shares of 1p each at 1p per share. Finally a further 3,000,000 Ordinary Shares of 1p each at 1p per share are being issued in order to settle liabilities.
The Placing Price represents a discount of approximately 21.3 per cent. to the Closing Price of 1.27 pence per Ordinary Share on 29 April 2022, being the latest practicable business day prior to the publication of this Announcement.
Application has been made for a total of 55,000,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 9 May 2022. There are 38,000,000 new Ordinary Shares issued under the authorities in existence prior to the Annual General Meeting held on 29 April 2022 and 17,000,000 new Ordinary Shares under the authorities in existence at the close of Minoan's last Annual General Meeting held on 29 April 2022. Following Admission, there will be a total of 672,517,005 Ordinary Shares in issue or to be issued. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Minoan under the FCA's Disclosure and Transparency Rules.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Christopher Egleton | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chairman | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Minoan Group PLC | ||||
| b) | LEI | 213800T9RAWFP5663Y20 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Ordinary Shares of 1p each
GB0008497975 | ||||
| b) | Nature of the transaction | Share purchase | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
5,000,000 ordinary shares £50,000 | ||||
| e) | Date of the transaction | 3 May 2022 | ||||
| f) | Place of the transaction | London | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Georgios Mergos | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Minoan Group PLC | ||||
| b) | LEI | 213800T9RAWFP5663Y20 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Ordinary Shares of 1p each
GB0008497975 | ||||
| b) | Nature of the transaction | Share purchase | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
5,000,000 ordinary shares £50,000 | ||||
| e) | Date of the transaction | 3 May 2022 | ||||
| f) | Place of the transaction | London | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Grahame Cook | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Minoan Group PLC | ||||
| b) | LEI | 213800T9RAWFP5663Y20 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Ordinary Shares of 1p each
GB0008497975 | ||||
| b) | Nature of the transaction | Share purchase | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
2,000,000 ordinary shares £20,000 | ||||
| e) | Date of the transaction | 3 May 2022 | ||||
| f) | Place of the transaction | London | ||||
For further information visit www.minoangroup.com or contact:
Minoan Group Plc
Christopher Egleton christopher.egleton@minoangroup.com
George Mergos georgios.mergos@minoangroup.com
Bill Cole william.cole@minoangroup.com
W H Ireland Limited 020 7220 1666
James Joyce / Megan Liddell
Peterhouse Capital Limited 020 7469 0930
Duncan Vasey
Sapience Communications Limited 020 3195 3240
Richard Morgan Evans
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