MINOAN Group has confirmed its long-mooted Greek project has moved a step closer, sending its share price soaring more than 12%.
The development in Crete, where Minoan owns 17 miles of land along the coast, is now being assessed through Article 24 of amended fast track planning laws.
That is said to give it additional planning benefits and Minoan expects to submit its strategic environmental assessment (SEA) soon.
Christopher Egleton, chairman of the Glasgow travel firm, said the approval of a SEA is equivalent to outline planning consent being given.
He said: "I am very pleased that we are moving ahead with making our submission."
Shares in the group closed up 1.12p at 10.12p.
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