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that due to insufficient funding, its annual report and accounts for the year ended 31 October 2024 ("ARA") will not be published by 30 April 2025, being the deadline for publication under Rule 19 of the AIM Rules for Companies.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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