Extension to Share Buy-Back programme

RNS Number : 2630E

Thalassa Holdings Limited

17 October 2018

 

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                                                 [phone]

WH Ireland Limited (Nominated Adviser and Broker) 

   Chris Fielding, Managing Director, Corporate Finance       [phone] 

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.

 

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