Thalassa Holdings Limited Statoil Bank Guarantee (6089E)
05 Novembro 2015 - 5:00AM
UK Regulatory
TIDMTHAL
RNS Number : 6089E
Thalassa Holdings Limited
05 November 2015
5 November 2015
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or "the Company")
Statoil Bank Guarantee
The Board of Thalassa announces that the available unrestricted
cash in the Company has increased by $1.35 million to $18.5 million
as at 4 November 2015 (or $19.3 million total cash) as a result of
a bank guarantee provided to Statoil Petroleum AS ("Statoil") being
reduced from $2.20 million to $0.85 million.
The bank guarantee was issued to Statoil in March 2013, in
connection with the manufacture and sale of the D-PMSS(TM) unit.
The reduced bank guarantee is now based solely on a percentage of
the estimated annual survey contract value. The D-PMSS(TM) is
deployed in long-term seismic acquisition services for permanent
reservoir monitoring of the Snorre and Grane oil fields in the
Norwegian sector of the North Sea.
The bank guarantee expires on 27 March 2016, when it may be
renewed at Statoil's request.
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650
Press Enquiries:
Square1 Consulting (Public Relations)
David Bick/Mark Longson +44 (0)207 929 5599
www.thalassaholdingsltd.com
Notes to Editor:
Thalassa Holdings Ltd, incorporated and registered in the BVI
and quoted on AIM, is a holding company with subsidiaries in the
Energy Services and Defence and Homeland Security Industries, with
a focus on marine seismic operations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 05, 2015 02:00 ET (07:00 GMT)
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