- Minoan Group, the AIM listed travel and leisure company, has completed the acquisition John Semple Travel, originally announced last October, and Stewart Travel Centre.

The vendors of Semple have elected to receive ordinary shares of 1p each to settle a loan of £320,000, plus accrued interest.

Minoan has managed the business of Stewart Travel Centre since acquiring a 19.9% interest on 1 June 2011 and has now completed the acquisition of 100% of the assets and business of Stewart.

The integration of Semple and Stewart into the Group's travel and leisure business is now complete.

Christopher Egleton, Chairman of Minoan, commented: "We are delighted that the vendors of Semple, the Semple family, have all elected for the loan agreement to be settled in shares rather than cash, demonstrating how successful the integration of Semple into the Group has been and the positive outlook for the future.

"We are also very pleased to have completed the Stewart acquisition.

"The Group's travel and leisure business has grown rapidly and we are excited by the potential to continue this growth. Discussions regarding a number of commercial opportunities in the sector are currently ongoing and the Board hopes to update shareholders in the near future.

"With the recently announced investment in the Group's project in Crete, and the continued expansion in the travel and leisure business, the Board remains confident in Minoan's ability to take advantage of opportunities as they arise."

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