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.

1 August 2023

Minoan Group Plc
("Minoan" or the "Company")

Issue of Shares

The Directors of Minoan announce the issue of 16,140,103 ordinary shares of 1p each ("Ordinary Shares") in order to settle certain existing liabilities. The shares will be issued at 1p per Ordinary Share.

Application has been made for a total of 16,140,103 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will be effective from 2 August 2023. Following Admission, there will be a total of 751,368,219 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 Guidance and Transparency Rules.

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

Minoan Group Plc

Christopher Egleton                                           christopher.egleton@minoangroup.com

George Mergos                                                 georgios.mergos@minoangroup.com

W H Ireland Limited                                           020 7220 1666
Antonio Bossi                                       

Peterhouse Capital Limited                                020 7469 0930

Duncan Vasey