They represent the company's first development of a planned expansion into the Greek solar energy sector, which it says offers compelling cash-generation characteristics.

Overall cost of the initial projects will about ?0.8m, which will be met from a mixture of equity and debt.

Minoan also says it is in discussions regarding a number of potential additional transactions in its core leisure business and newly established solar energy operations.

It expects to be in a position to notify the market of further progress in due course.

The company is restructuring its executive management team, beginning with the appointment of Duncan Wilson as MD. He has been a non-exec since 2006.

Story provided by Business Financial Newswire