Thalassa (di) Regulatory News (THAL)

Thalassa Holdings

Gitone Loan Update

Thalassa Holdings Limited

29 September 2020

Thalassa Holdings Ltd

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

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

Gitone Loan Update

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

The Board of Thalassa announces that Gitone Beteiligungsverwaltungs GmbH ("Gitone") has repaid its €5.5 million loan (first announced on 27 January 2020), together with accrued interest of €26,927.08. Having determined not to exercise its conversion option, Thalassa therefore has no further participation in Gitone and its assets.

Including the loan repayment, the Company's current assets (cash and liquid, short term investments) currently amount to c.$16.5 million (c.£12.9m) or $1.178 per share (c.£0.92 per share).

END

www.thalassaholdingsltd.com

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About Thalassa

Thalassa Holdings Ltd, incorporated and registered in the BVI, is a holding company with various interests across a number of industries.