Cancellation of Preference Shares

Thalassa Holdings Ltd

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

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

Cancellation of Preference Shares

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

Further to the Company's announcement of 3 October 2018 and following the lapse of the offer for The Local Shopping REIT plc (the "Offer") on 3 May 2019, the board of Thalassa (the "Board") announces that all outstanding preference shares in the Company the "Preference Shares") will be cancelled.

The Company advises that the total number of ordinary shares of the Company in issue remains at 25,567,522, including those ordinary shares held in treasury.

The total number of ordinary shares in issue (excluding those held in treasury) at the date of this RNS is 17,400,275.

www.thalassaholdingsltd.com

Notes to Editor:

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