Minoan Group PLC - developing hotel resort project in Crete - Issues 77.9 million new shares at average 1.68 pence per share, to settle £1.3 million in balance sheet liabilities, including debts owed to directors. The issue price is a substantial premium to the market price of Minoan shares. The new shares represent 8.4% of Minoan’s enlarged equity. The plan to convert debt into equity was first announced last week.

Current stock price: 0.88p, up 9.7% on Friday in London

12-month change: up 29%

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