Acquisition of a stake in Renewable Power & Light

19 Jan 2010 14:26

Thalassa Holdings Ltd

("the Company")

Acquisition of a stake in Renewable Power & Light plc

The Company is pleased to announce that on 18 January 2010 it, together with CityPoint Holdings Ltd, acquired a combined beneficial interest in 26,487,430 ordinary shares in Renewable Power & Light plc ("RPL", AIM : RPL.L), which represents a total of 29.8% of the current issued share capital based on 88,764,646 shares in issue as per RPL's web site dated 16 December 2009.

The Company acquired 9,827,430 ordinary shares, which represents 11.07% of the current issued share capital, at a price of 3p per share. Additional consideration, of up to 1p per share, may be due if RPL's net assets are subsequently found and announced to be greater than 3.75p per share.

CityPoint Holdings Ltd acquired 16,660,000 ordinary shares, which represents 18.77% of the current issued share capital, on the same day and on the same terms. CityPoint Holdings Ltd is a subsidiary of CityPoint Investments plc ("CPI plc", formerly Bella Media plc). The Company is deemed under the Takeover Code to be acting in concert with CPI plc by virtue of its 27% equity ownership CPI plc. 

Contact:

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

Thalassa Holdings Ltd

Simon Leathers Tel: + 44 (0) 20 7776 6550

Daniel Stewart & Company plc

Notes to Editor:

Thalassa Holdings Ltd, incorporated and registered in the BVI in 2007 and listed on AIM in July 2008, is a holding company with diversified interests in quoted and unquoted companies, including Marine Seismic.