Minoan Group plc (GB:MIN) has released an update.
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Minoan Group plc is making strategic moves to strengthen its financial position by converting some of its liabilities into equity, planning to issue up to 78 million shares to settle over £1.3 million of debt. Additionally, the company is in advanced discussions with a strategic partner for significant new funding to support its Cavo Sidero project, aiming to secure financial resources without altering its current share value. These steps reflect Minoan’s efforts to enhance its balance sheet and attract investment for future growth.
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