Relocation of UK operations

RNS Number : 3369T

Thalassa Holdings Limited

03 October 2014

 



Thalassa Holdings Ltd

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

("Thalassa" or the "Company")

Relocation of UK operations

On 11 July 2014, the Board of Thalassa announced that Thalassa intended to lease new Group headquarters at a campus being established at Eastleigh Court near Warminster, Wiltshire and to locate all of its UK operations there. Eastleigh Court was acquired by Eastleigh Court Limited, a company owned by Thalassa's chairman, Duncan Soukup, on 11 July 2014.

The Board now announces that Thalassa has entered into an agreement with Eastleigh Court Limited for WGP Exploration Ltd to lease 10,000 square feet at Eastleigh Court, at £12 per square foot for a term of 10 years commencing on 1 October 2014.

In light of the interest of Mr Soukup in Eastleigh Court Limited, the lease on Eastleigh Court represents a related party transaction under the AIM Rules. The Directors, other than Mr Soukup by reason of this interest, consider, having consulted with WH Ireland Limited, Thalassa's nominated adviser, that the terms of these leases are fair and reasonable insofar as its shareholders are concerned.

Graham Cole, a Non Executive Director of Thalassa said: "We are delighted to have entered into the leases on this new campus which was chosen after an extensive search throughout the South West of England. The location and proximity to major transportation hubs will be key to attracting new staff and to maintaining the Company's growth over the coming years."

Contacts:

Thalassa Holdings Ltd:

Graham Cole, Non Executive Director                                                            0777 564 3545

WH Ireland Limited (Nominated adviser):

Chris Fielding, Head of Corporate Finance                                                     020 7220 1650

www.thalassaholdingsltd.com

 

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