Completed Acquisition of the GO Science Business

RNS Number : 6799T

Thalassa Holdings Limited

22 November 2013

 



Thalassa Holdings Ltd

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

("Thalassa" or the "Company")

Completion of Acquisition of the GO Science business

Further to the Company's announcement on 23 September 2013, the Directors are pleased to announce that Thalassa has completed the acquisition of the business, intellectual property and other assets of GO Science Limited ("GO Science"), which had been placed into administration on 31 July 2013.

Following negotiations since 23 September, Thalassa has acquired GO Science for a total cash amount of £1,860,000.No further consideration is payable.

Duncan Soukup, Chairman of Thalassa, stated:

"Whilst this acquisition has taken longer than anticipated to complete we are satisfied that the protracted negotiations were well worth the time and effort. We are very excited by the potential of the GO Science business."

Further information on GO Science can be found at www.goscience.co.uk.

Contacts:

Thalassa Holdings Ltd:

Duncan Soukup, Executive Chairman                                       [phone]

WH Ireland Limited (Nominated adviser):

Chris Fielding, Head of Corporate Finance                                        020 7220 1650

www.thalassaholdingsltd.com  

Notes to Editor:

Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with a focus on marine seismic operations. The corporate strategy for the Group is "Exploration and Beyond". "Exploration" is focused on activity in frontier and challenging locations, whilst "Beyond" focuses on production activity by looking to secure opportunities in the permanent reservoir monitoring market. Thus activity and focus will be dominated by projects in remote and challenging frontier locations, coupled with lower risk projects in mature producing regions.

Alongside the technical expertise and consultancy in marine seismic operations provided through its subsidiary, WGP, the Group owns and operates two portable modular source systems (PMSS(TM)). The PMSS(TM) generates a seismic source for use in seismic acquisition in petroleum exploration and production. The equipment is temporarily installed on the back of a platform supply vessel for the purposes of acquiring data.

 

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