Proposed Transaction

30 July 2021

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Thalassa Holdings Ltd

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

(the "Company" or "Thalassa")

Proposed Transaction

The Board of Thalassa ("Board") is pleased to note the entry into non-legally binding heads of terms ("Heads of Terms") between Anemoi International Ltd ("Anemoi") and one of its investee companies, id4 AG ("id4") which set out the key terms for the proposed acquisition of the entire issued share capital of id4 (the "Acquisition") by Anemoi.  The Board also notes Anemoi's intention to carry out a simultaneous fundraising to raise further working capital for the enlarged group.

id4 is a Software as a Service (SaaS) company specialised in the provision of digital ‎Customer Lifecycle Management ("CLM") solutions for financial and non-financial ‎institutions, with solutions that help institutions to on-board clients digitally in an increasingly ‎complex regulatory environment, whilst concurrently delivering a client user-friendly ‎experience.  id4's Anti Money Laundering ("AML") and Know Your Client ("KYC") software products are specifically designed for use by small and medium sized ‎regulated financial intermediaries, such as brokers, IFAs, independent asset managers, ‎private banks, business process outsourcers, insurance companies, law firms and trust ‎companies. 

id4 was nominated as one of the RegTech 100 in 2020‎‎.  In addition, id4 ‎received the Best Compliance Solution Award in 2020‎ ‎and the Best Fintech Solution ‎Award in 2021 at the WealthBriefing Swiss Awards‎.‎

The Board carefully considered id4's stage of development, funding needs and potential benefits of becoming part of a listed entity with id4's founders and senior management team.  Following these discussions, it was agreed that the opportunity offered by Anemoi should be taken forward and accordingly the Heads of Terms were entered into. 

The Board would point out that there can be no certainty that the Acquisition will take place and that it remains subject to, amongst other things, the execution of definitive legal agreements and the Company's ability to secure necessary approvals (as required).

A further announcement will be made in due course.

-Ends-

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