Last checked at 2 Aug 2013 07:00
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
TRANSACTION IN OWN SHARES
The Board of Thalassa is pleased to announce that on 1 August 2013 the Company has sold 383,333 ordinary shares of US$0.01 each ("Ordinary Shares") out of treasury at a price of 163p per Ordinary Share, raising gross proceeds of £623,832.79.
Following the sale, the Company's issued share capital, excluding treasury shares, comprises 16,738,855 Ordinary Shares of US$0.01 each. The total number of Ordinary Shares remaining held in treasury is 1,078,667.
The Company has received notification that THAL Discretionary Trust has acquired 383,333 Ordinary Shares, which increases its interest in Thalassa to a total of 1,000,000 Ordinary Shares, which represents 6.0 per cent of the issued share capital excluding shares in treasury.
Contacts:
Thalassa Holdings Ltd:
Duncan Soukup, Executive Chairman +33 (0)6 78 63 26 89
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.