Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Completion of the sale of the assets of WGP Group Ltd ("WGP")
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Further to the Company's announcement on 19 December 2017, the board of directors of Thalassa (the "Board") is pleased to announce that the sale of the assets of WGP to Fairfield Industries Incorporated, doing business as FairfieldNodal, Inc. ("FFN"), has completed. As previously announced, the Board expects that the proposed investment by FFN in Autonomous Robotics Ltd will be concluded by no later than 31 March 2018.
Duncan Soukup, Chairman of the Company, said: "I have been involved with WGP for a number of years and it is with some satisfaction that we now pass on a better, stronger and more competitive company than the one that we purchased. I am delighted to have navigated WGP through two major downturns in the industry, but feel that we have taken WGP as far as we can and I now wish, on behalf of the Board, FFN and the WGP staff every success in the future."
"We are excited about the expertise, talent and track record of strong project execution we gain with the WGP acquisition," says Charles (Chuck) Davison Jr, President and CEO of FairfieldNodal. "WGP's proven technology and operational capabilities around active reservoirs make them a natural fit into the FairfieldNodal suite of services. We look forward to working with the WGP team, combining forces to provide customers with seamless reservoir services and increasing our collective value proposition."
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.
