Loan to the Company

RNS Number : 0230H

Thalassa Holdings Limited

11 February 2010

 

Thalassa Holdings Ltd

("the Company")

Loan to the Company

Duncan Soukup has made a further loan to the Company, the principal terms of which are set out below:-

Principal:                    GBP£300,000

Interest rate:               10 per cent. per annum

Term:                          1 year

The loan is secured on all investment assets held by the Company and its subsidiaries.

The purpose of the loan is to provide additional investment capital to the Company and its subsidiaries at a time when the Board believes the current market conditions provide access to, in its opinion, a number of undervalued investment opportunities.

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 Daniel Stewart & Company plc, the Company's Nominated Adviser, that the terms of the loan are fair and reasonable insofar as the Company's shareholders are concerned.

Mr Soukup also has two further loans outstanding to the Company of which the capital total is USD$700,619.

Contact:

Duncan Soukup, Executive Chairman                    Tel: + 33 (0)6 78 63 26 89

Thalassa Holdings Ltd

Simon Leathers                                                         Tel: + 44 (0)20 7776 6550

Daniel Stewart & Company plc

Notes to Editor:

Thalassa Holdings Ltd, incorporated and registered in the BVI in 2007 and listed on AIM in July 2008, is a holding company with diversified interests in quoted and unquoted companies, including Marine Seismic.

 

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