Last checked at 9 Jun 2009 15:11
THALASSA HOLDINGS LTD
TRANSACTION IN OWN SHARES AND LOAN TO THE COMPANY
Thalassa Holdings Ltd (the "Company") has acquired 2,000,000 of its ordinary shares at an average price of 15 pence per ordinary share. These shares will be held as treasury shares.
Following the purchase and non-cancellation of these ordinary shares, the Company's voting capital consists of:
| Total capital of the Company including ordinary shares held in treasury | Number of ordinary shares (excluding shares held in treasury) carrying voting rights | Number of ordinary shares held as treasury shares |
| 8,500,000 | 6,500,000* | 2,000,000 |
* Denotes the number of ordinary shares to be used in calculations by shareholders to determine whether they are required to notify their interest in shares in the Company as required by the Transparency Directive.
LOAN TO THE COMPANY
Further to the announcement on 11 May 2009, the Company has entered into a further loan agreement with Duncan Soukup, a director of the Company. The principal terms of the loan are set out below:-
Principal: £300,000 (circa US$480,000)
Interest rate: 10 per cent. per annum
Term: 1 year
The loan is secured against the assets of the Company.
The purpose of the loan is to satisfy the Transaction in Own Shares as set out above.
The loan from Mr Soukup is a related party transaction pursuant to AIM Rule 13. The directors of the Company, with the exception of Mr Soukup consider, having consulted with Dowgate Capital Advisers Limited, the Company's Nominated adviser, that the terms of the loan are fair and reasonable insofar as the Company's shareholders are concerned.
For further information please visit the Company's website, www.thalassaholdingsltd.com or contact:
| Duncan Soukup | Thalassa Holdings Ltd | T: +33 678 632 689 |
| Chris Langrick | T: +33 643 917 391 | |
| Liam Murray | Dowgate Capital Advisers Limited | T: +44 20 7492 4777 |
| Aaron Smyth | ||
| Neil Badger | Dowgate Capital Stockbrokers Limited | T: +44 12 9351 7744 |