Minoan fundraising for Crete development

The Herald — Minoan  Group has raised £550,000, before expenses, as it continues to pursue a major resort development project on Crete.

The company, which has unveiled plans to sell its Glasgow-based travel agency business, placed nearly 9.17 million shares at 6p each with institutional and other investors.

Minoan chairman Christopher Egleton said: “I am very pleased to raise these funds, which will provide working capital and enable Minoan to continue to pursue the development of its project in Crete.”