Regulatory Story

Go to market news section

Thalassa Holdings Limited ­ THAL Update ­ Effect of Sale of Assets of WGP Group Ltd Released 07:00 05­Jan­2018

RNS Number : 0240B

Thalassa Holdings Limited 05 January 2018

Thalassa Holdings Ltd

(Reuters: THAL.L, Bloomberg: THAL:LN)

("Thalassa", "THAL" or the "Company")

Update ­ Financial effect of sale of the assets of WGP Group Ltd

Further to the Company's announcement on 2 January 2018, the board of directors of Thalassa (the "Board") is pleased to update the Market as follows.

Following the sale of the assets of WGP Group Ltd and its subsidiaries, the Company's net cash as at 31 December 2017 is estimated at $20.3m. Whilst total cash of $20.3m is below the previously estimated cash figure of $21.3m stated in the Circular to Shareholders dated 1 December 2017 this is due to the purchase of a further 798,250 shares of the Company, between 1 December 2017 and 31 December 2017, at an average price of £1.01 per share or a total of £807,825 or $1,080,968.

·

BV per share:

$1.57 ­ £1.15

·

Cash per share:

$1.03 ­ £0.76

·

NAV per share:

$1.93 ­ £1.43

Duncan Soukup, Chairman of Thalassa, said: "The Company's net cash per share is higher than set out in Thalassa's circular dated 1 December 2017 as is NAV per share of $1.93 versus our earlier estimate of $1.91 per share. However, due to the recent weakness in the US$ NAV in £ Sterling has dropped by 1 pence to £1.43 from £1.44 as previously estimated.

I am also happy to report that BV per share as stated above, has also increased as a result of the share repurchases being made at adiscount to BV.

The Board is actively reviewing potential investment opportunities and will update the Market of developments in due course."

Investor Enquiries:

Thalassa Holdings Ltd

Duncan Soukup, Chairman +33 (0)6 78 63 26 89

WH Ireland Limited (Nominated Adviser and Broker)

Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650

www.thalassaholdingsltd.com

Note to Editors:

Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with various interests across a number of industries.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMMGGMVDMGRZM

CLOSE

Sponsored Business Content

2018 Share Picks To Watch

The benefits of investing in Asia

Hargreaves Lansdown

Aberdeen Investment Trusts

Which of the major stockmarkets are 'cheap'

Aged 18-39? A Lifetime ISA gives you a

going into 2018?

bonus worth up to £1,000 a year

Schroders

AJ Bell

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries.Terms and conditions, including restrictions on use and distribution apply.

©2014 London Stock Exchange plc. All rights reserved

Update ‐ Effect of Sale of Assets of WGP Group Ltd ‐ RNS

Thalassa Holdings Ltd. published this content on 05 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 January 2018 09:39:09 UTC.

Original documenthttp://thalassaholdingsltd.com/documents/2018.01.05-Update-Effect-of-Sale-of-Assets-of-WGP-Group.pdf

Public permalinkhttp://www.publicnow.com/view/DBC35AC84FAD0528B22C60324423A9B114EFF816