Thalassa Holdings Limited Sale of WGP Group Ltd: Earn Out (3161U)
11 Julho 2018 - 7:00AM
UK Regulatory
TIDMTHAL
RNS Number : 3161U
Thalassa Holdings Limited
11 July 2018
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Sale of WGP Group Ltd ("WGP"): Earn Out
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014
Further to the announcement dated 1 December 2017, the Board is
pleased to announce that, under the terms of the WGP sale
agreement, following an award of a data acquisition contract to
WGP, THAL will be due, upon execution of contracts relating to the
award, an initial $6m (of the potential $10m) earn out. The exact
timing of payments will be announced in due course. Payments will
be 20% following signing of the contracts and the remaining 80%
within 12 months of the initial payment.
The Board remains confident that, barring any material
deterioration in the price of oil or any other unforeseen event,
the Company should, within the next few years, receive the final
$4m potentially due under the earn out.
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Managing Director, Corporate Finance +44 (0)207 220 1650
www.thalassaholdingsltd.com
Note to Editors:
Thalassa Holdings Ltd, incorporated and registered in the BVI
and quoted on AIM, is a holding company with various interests
across a number of industries.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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END
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