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.

20 July 2022

Minoan Group Plc

(The "Company" or "Minoan")

Share Issue

As announced on 18 July, Minoan's Loan with DAGG LLP was extended to 31 December 2022 for a fee of £150,000 to be settled by the issue of shares in the Company at 1p per share.

As a result, the Company is issuing 15,000,000 Ordinary Shares at 1p per share.

Application has been made for a total of 15,000,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 25 July 2022. The new Ordinary Shares are issued 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 687,517,005 Ordinary Shares in issue. 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.

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