Loan to the Company

RNS Number : 0312S

Thalassa Holdings Limited

11 May 2009

 



Thalassa Holdings Ltd

Loan to the Company

The Company has entered into a loan agreement with Duncan Soukup, a director of the Company. The principal terms of the loan are set out below:-

Principal:             US$798,680 (circa £530,100)

Interest rate:        10 per cent. per annum

Term:                  1 year

The loan is secured on certain investment assets held by the Company.

The purpose of the loan is to provide additional investment capital to the Company.

The loan from Mr Soukup is a related party transaction pursuant to AIM Rule 13. The directors of the Company, with the exception of Mr Soukup consider, having consulted with Dowgate Capital Advisers Limited, the Company's Nominated Adviser, that the terms of the loan are fair and reasonable insofar as the Company's shareholders are concerned.

Duncan Soukup Chris Langrick	Thalassa Holdings Ltd	T: [phone] T: [phone]
Liam Murray Aaron Smyth	Dowgate Capital Advisers Limited	T: [phone]

 

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