Thalassa Holdings Limited £5.4 million placing (1917C)
12 Abril 2013 - 3:00AM
UK Regulatory
TIDMTHAL
RNS Number : 1917C
Thalassa Holdings Limited
12 April 2013
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
GBP5.4 million placing
The Board of Thalassa is pleased to announce that the Company
has conditionally raised gross proceeds of approximately GBP5.4
million through a placing of 4,500,000 new Ordinary Shares of
US$0.01 each in nominal value (the "Placing Shares") through its
broker, WH Ireland Limited, at a price of 120 pence per Ordinary
Share (the "Placing").
The net proceeds of the Placing are intended to be used to
acquire additional seismic acquisition equipment, including further
PMSS(TM) components, and provide the Company with sufficient
working capital during this period of rapid growth, whilst also
broadening the institutional shareholder base of the Company.
Details of the Placing
Application has been made for the Placing Shares, which will
rank pari passu in all respects with the existing Ordinary Shares
of the Company, to be admitted to trading on AIM ("Admission"),
which is expected to be effective from 8.00 am on 17 April
2013.
The Placing is conditional, inter alia, upon Admission becoming
effective and the placing agreement entered into between Thalassa
and WH Ireland Limited becoming unconditional in all respects by no
later than 8:00 a.m. on 17 April 2013 or such later date, being not
later than 8:00 a.m. on 30 April 2013, as Thalassa and WH Ireland
Limited may agree.
Total Voting Rights
Following completion of the Placing, Thalassa's capital will
consist of 17,817,522 Ordinary Shares with voting rights. Thalassa
holds 1,462,000 Ordinary Shares in treasury.
Therefore, the total number of shares with voting rights in
Thalassa is 16,355,522.
The above figure 16,355,522 may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, Thalassa under the Disclosure and Transparency
Rules.
Commenting on the Placing, Duncan Soukup, Executive Chairman of
Thalassa, said: "We are delighted by the support we have attracted
from some of the leading UK institutional investors. We believe
that the Company is at a key stage in its development and that this
Placing will allow us to attract further opportunities with both
existing and new clients through a significantly strengthened
balance sheet. The success of this Placing is a testament to how
far Thalassa has come since securing its first contract with BP in
2010 and I am excited by the future prospects for the Company."
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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