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Minoan to issue 3.2m shares

TRAVEL company Minoan Group has announced plans to issue more than 3.2 million new shares on to the Alternative Investment Market (AIM).

As a result of lending agreements struck in February this year, it gave unnamed debt providers the option of being repaid in cash or shares for a period running to the end of October 2016.

Yesterday the Glasgow-based business said some of those lenders have now chosen to takes shares and they would be issued at 8.5 pence per share.

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Finance

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