10 October 2016
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or "the Company")
Update of investment in Papua Mining plc ("Papua")
Further to the announcement of 2 September 2016, Thalassa is pleased to announce that all resolutions put to the shareholders of Papua at the general meeting held on 7 October 2016 were passed.
Consequently, Thalassa's investment of £400,000 for 40,000,000 new ordinary shares of Papua has been approved.
Papua has raised a total of £512,000 through the issue of 40,000,000 new ordinary shares to Thalassa and 11,200,000 new ordinary shares to existing shareholders. As a result, Thalassa's shareholding will represent 26.7% of the enlarged share capital of Papua.
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
Press Enquiries:
Square1 Consulting (Public Relations)
David Bick +44 (0)207 929 5599
www.thalassaholdingsltd.com
