Thalassa Holdings Limited Update - Effect of Sale of Assets of WGP Group Ltd (0240B)
January 05 2018 - 2:00AM
UK Regulatory
TIDMTHAL
RNS Number : 0240B
Thalassa Holdings Limited
05 January 2018
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Update - Financial effect of sale of the assets of WGP Group
Ltd
Further to the Company's announcement on 2 January 2018, the
board of directors of Thalassa (the "Board") is pleased to update
the Market as follows.
Following the sale of the assets of WGP Group Ltd and its
subsidiaries, the Company's net cash as at 31 December 2017 is
estimated at $20.3m. Whilst total cash of $20.3m is below the
previously estimated cash figure of $21.3m stated in the Circular
to Shareholders dated 1 December 2017 this is due to the purchase
of a further 798,250 shares of the Company, between 1 December 2017
and 31 December 2017, at an average price of GBP1.01 per share or a
total of GBP807,825 or $1,080,968.
-- BV per share: $1.57 - GBP1.15
-- Cash per share: $1.03 - GBP0.76
-- NAV per share: $1.93 - GBP1.43
Duncan Soukup, Chairman of Thalassa, said: "The Company's net
cash per share is higher than set out in Thalassa's circular dated
1 December 2017 as is NAV per share of $1.93 versus our earlier
estimate of $1.91 per share. However, due to the recent weakness in
the US$ NAV in GBP Sterling has dropped by 1 pence to GBP1.43 from
GBP1.44 as previously estimated.
I am also happy to report that BV per share as stated above, has
also increased as a result of the share repurchases being made at a
discount to BV.
The Board is actively reviewing potential investment
opportunities and will update the Market of developments in due
course."
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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