Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Extension to Share Buy-Back programme
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Further to the Company's announcement of 12 July 2017 announcing a £4 million share buy-back programme, the board of Thalassa (the "Board") has resolved to increase that share buy back programme from a total cost of £4 million to £6 million.
As at the date hereof, the Company has purchased 4,169,090 ordinary shares under the 12 July 2017 authority at a total cost of £3,696,322.73, or an average price of 88.66 pence per share. This represents a 23.5% discount to the £1.16 book value ("BV") per share, as reported in the Company's Interim Results for the 6 months ended 30 June 2018. In addition, the BV as at 30 June 2018 does not incorporate the $6m due from Fairfield/WGP in connection with the sale of WGP's assets and business, as announced on 11 July 2018.
Commenting Duncan Soukup, Executive Chairman of Thalassa, said:
"The Board believes that increasing the size of the share buy back programme with a price limit below £1.16 represents good value and will enhance BV per share for all THAL shareholders."
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Managing Director, 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.
