Thalassa (di) Regulatory News (THAL)

Thalassa Holdings Ltd

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

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

PERSONNEL CHANGES AT AUTONOMOUS ROBOTICS LIMITED ("ARL")

The board of Thalassa is pleased to update the market on personnel changes at the Company's wholly owned subsidiary, Autonomous Robotics Limited ("ARL").

ARL has appointed Rear Admiral (retired) Jon Westbrook CBE and Commodore (retired) Phillip Titterton CBE as Defence Advisor to the Board and Defence Consultant respectively, with effect from 1 August 2018. Together they will be responsible for providing strategic guidance to ARL's board of Directors on applications of ARL's autonomous underwater vehicle ("AUV") technology in the defence sector and contributing to growth initiatives.

ARL has also hired additional engineering staff as ARL continues to focus on the development of its AUV.

Rafael Albea, who has served as ARL's CEO since 12 December 2017, has resigned from his position as CEO with effect from 10 August 2018 to pursue other opportunities.

Further details are included in the full text of the ARL announcement below.

Duncan Soukup, Chairman of Thalassa, said: "We are encouraged by the progress made to date in the development of ARL's AUV and swarm technology. I am confident that these appointments will allow us to accelerate the development of the Autonomous Nodes."

Investor Enquiries:

Thalassa Holdings Ltd

Duncan Soukup, Chairman +33 (0)6 78 63 26 89

WH Ireland Limited (Nominated Adviser and Broker)

Chris Fielding, Managing Director, 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.

PERSONNEL CHANGES AT AUTONOMOUS ROBOTICS LIMITED ("ARL" or the "Company")

The board of ARL is delighted to announce the appointment of Rear Admiral (retired) Jon Westbrook CBE and Commodore (retired) Phillip Titterton CBE as Defence Advisor to the Board and Defence Consultant respectively, with effect from 1 August 2018.

Rear Admiral Westbrook retired in 2013 after a distinguished career in the Royal Navy, which culminated as Chief of Staff Allied Maritime Command Naples and Senior National Representative Italy. Since his retirement, Rear Admiral Westbrook has undertaken board level advisory roles in technologically advanced companies in the maritime and security sectors, including Advisory Board Member to Autonomous Surface Vehicles Ltd. He has also undertaken an independent review of a strategic level safety process on behalf of the MoD and been a member of the Armed Forces Pay Review Body, which makes recommendations on pay and allowances to the Prime Minister.

During his career in the Royal Navy, Commodore Titterton held a number of senior roles, including, most recently, Deputy Director Combined Joint Operations of the Sea Centre of Excellence, Norfolk, Virginia prior to his retirement in March 2018.

ARL is focussed on the development of its autonomous underwater vehicle (AUV) and the board is pleased to welcome additional engineering staff to the Company. Abhinav Bharti (lead software engineer) and Ella Richards (lead mechanical engineer) have joined the team led by Arran Holloway, ARL's Engineering Director.

The Board also announces that Rafael Albea has resigned from his position as CEO to pursue other opportunities.

Dave Grant, Executive Chairman of ARL, said: "We are delighted to have secured the services of Jon Westbrook and Phillip Titterton, both of whom bring a wealth of experience in the defence sector. We are also pleased that Abhinav Bharti and Ella Richards have chosen to join us which we anticipate will accelerate the development of the autonomous underwater vehicle (AUV)."

"On behalf of the Company I would like to thank Rafael for his contribution during his time with ARL and wish him every success for the future."

Note to Editors:

Autonomous Robotics Limited is a wholly owned subsidiary of AIM quoted Thalassa Holdings Ltd (Reuters: THAL.L, Bloomberg: THAL:LN)

www.autonomousroboticsltd.com