LONDON - Minoan Group Plc, a company listed on the London Stock Exchange (LON:LSEG), announced on Monday that it has extended the expiry dates of options granted to certain directors and executives. Originally set to expire on December 31, 2024, the options to subscribe for a total of 8,541,025 ordinary shares at 1p per share have now been extended to December 31, 2025.
The decision to extend the expiry dates affects options held by directors Grahame Cook and Timothy Hill, among other non-Board members. Cook's 762,393 options and Hill's 1,233,333 options are included in the extension. Despite the change in expiry date, all other terms of the options remain the same.
In addition to the extension, Minoan Group provided an update on its financial situation. The company is currently in discussions regarding its only secured debt, which was due on December 31, 2024. Shareholders have been advised to expect further details in the near future.
Furthermore, Minoan is progressing in talks with a strategic partner, a development initially disclosed in November 2024. The company anticipates providing another update on these discussions within the first quarter of 2025.
The information shared in this article is based on a press release statement from Minoan Group Plc.
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