Update on Disposal Discussions

RNS Number : 0804J

Thalassa Holdings Limited

26 June 2017

 

Thalassa Holdings Ltd

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

("Thalassa", "THAL" or the "Company")

Update on disposal discussions

Further to the Company's announcement of 19 April 2017, the board of directors (the "Board") of THAL wishes to update the Market in respect of the ongoing disposal discussions.

The Board has received an indication of interest from an industry participant for the potential acquisition of 100% of the business and assets of WGP Group Ltd. The interested party has commenced preliminary due diligence and the on-going discussions may or may not lead to a letter of intent. In addition, as part of the potential transaction, the Company may enter into an agreement to grant the interested party an option to invest in Autonomous Robotics Ltd, subject to reaching mutually agreeable terms.

The Board fully expects that due diligence will be completed in the next few weeks and that negotiations should be completed shortly thereafter. The Board will continue to apprise the market of developments as they occur.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Investor Enquiries:

Thalassa Holdings Ltd

   Duncan Soukup, Chairman                                                 [phone]

WH Ireland Limited (Nominated Adviser and Broker)

   Chris Fielding, Head of Corporate Finance                         [phone]

www.thalassaholdingsltd.com

Note to Editors:

Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company currently with positions in the Energy Services and Defence and Homeland Security Industries.

 

END

 

 

DISFMGZVRKRGNZM