REG-Thalassa Holdings Ltd Thalassa Holdings Ltd: 2024 Interim Results
27/09/2024 07:15
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Thalassa Holdings Ltd (THAL)
Thalassa Holdings Ltd: 2024 Interim Results
27-Sep-2024 / 07:00 GMT/BST
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Thalassa Holdings Ltd
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
Interim Results for the period ended 30 June 2024
The Company is pleased to announce its results for the six months ended 30 June 2024. The
unaudited interim results have been submitted to the FCA and will shortly be available on
the Company’s website: 1 www.thalassaholdingsltd.com
Highlights for the 6 months ended 30 June 2024
GROUP RESULTS 1H 2024 versus 1H 2023, unless otherwise stated (Unaudited)
• Profit /(loss) after tax for the year £0.24m vs (£0.53)m
• Group Earnings Per Share (basic and diluted)*1 £0.03 vs (£0.07)
• Book value per share*2 £1.19 vs £1.20
• Investment Holdings *3 £8.8m vs £7.7m
• Cash £1.4m vs £0.6m
*1 based on weighted average number of shares in issue of 7,945,838 (2023: 7,945,838)
*2 based on actual number of shares in issue as at 30 June 2024 of 7,945,838 (2023:
7,945,838)
*3 including all holdings excl. cash
Chairman’s Statement
2024 Observations
• The US Federal Reserve cut the Fed Funds Rate by 0.5% to 5.0% from 5.5%
• First US Rate cut for 4 years
• Dow Jones and S&P hit new highs
• NASDAQ leads 2024 performance +20% YTD.
• Through 7 September 2023, the tech-heavy NASDAQ Composite (CCMP) has risen ~20%;
Notable Mega Caps AAPL +18.87%, NVDA +138.02%, TSLA -1.84% GOOGL +16.07%, META
+57.96% EBAY +44.93%, MSFT +16.66%.
• NVDA’s performance alone accounts for 20% of S&P 500 ‘s YTD performance of +19.8%.
• Buffett Index at an all-time high; Total US Market Value recently @ 200% of US GDP.
Next stop infinity!
• On Aug 30, 2021, the Buffett Index stood at 199.5%, shortly before falling over 30%.
• A reversion to the Mean from current levels would indicate a possible (porbable)
decline of between 30 to 50% - assuming no overshoot!
• US Household Debt at the end of Q2 2024 stood at a record $17.8 trillion. (Source,
New York Fed Aug 6, 2024); +505bn from Q2 2023.
• Over the last year, approximately 9.1% of US credit card balances and 8.0% of US auto
loan balances transitioned into delinquency. (Source, as above).
• US Federal Debt $35.4 trillion, 123.44% of GDP.
Holdings -
Restitution -
• As at the time of writing I have so far covered £2,086,00 for the losses incurred by
the Company due to the collapse of Tappit, due wholly, in my opinion, to the
incompetence of the Company’s Board. I will continue to contribute funds up to a
total of £3m.
NWT - 2 https://newmarksecurity.com/
• Newmark Security recently published Full Year 2024 (Yr end 30 April) results, which
confirmed our view on recovery with Revenues up +10% and EBITDA up +50%. NWT shares
have also performed well since the beginning of the year and have increased 26.67%
YTD.
ALNA - 3 https://www.alina-holdings.com/
• ALNA posted improved results for H1 2024 which can be found on the Company’s website,
as above.
AMOI - 4 https://anemoi-international.com/
• Please refer to Anemoi website
SUN - 5 https://www.sigroupplc.com/
• Surgical Innovations Group PLC (SUN LN)
is a leading UK-based designer, manufacturer, and exporter of innovative high quality
medical products primarily for use in laparoscopic and robotic minimally invasive
surgery.
THAL has recently taken a 15.8% stake in SUN. In the early 90’s I was the first Wall
Street banker to visit Conmed (CNMD US), at the time it had a market cap. of ~$30m, today
its mkt cap. is $2.3bn. The Medical Device Market (including Laparoscopy) is dominated by
Medtronic plc $31.6bn revenues, Abbott Labs $31.3bn revenues, Dasher Corp $29.6bn, John &
Johnson $27.4bn, as well as Siemens, Fresenius Medline, Becton Dickinson, GE Healthcare,
Stryker, Philips NV, Cardinal Health, Baxter Intl., Boston Scientific all with annual
revenues in excess of $10bn.
SUN’s H1 2024 results are due 30 September, and whilst our expectations are muted, we
believe that the Company has exceptional leadership in place for such a small company and
can and should, in due course, return to profitability.
ALSAF - 6 https://safegrp.com/
• Safe Group is a leader of ready-to-use solutions for the treatment of Spinal
Diseases.
THAL has recently acquired a 10% stake in SAFE.
Conclusion
Warren Buffett is quoted as saying, “Be fearful when others are greedy, and greedy when
others are fearful. Now is not the time to be greedy but fearful. Berkshire Hathaway has
a record amount of cash ~$300bn and continues to sell holdings. The US market is
experiencing peak earnings and multiples whilst Federal and Consumer debt are both at
all-time highs.
Duncan Soukup
Chairman
Thalassa Holdings Ltd
26 September 2024
Responsibility Statement
We confirm that to the best of our knowledge:
a. the condensed set of financial statements has been prepared in accordance with IAS 34
‘Interim Financial Reporting’ and gives a true and fair view of the assets,
liabilities, financial position and profit or loss of the Company and the
undertakings included in the consolidation as a whole as required by DTR 4.2.4 R;
b. the interim management report includes a fair review of the information required by
DTR 4.2.7R (indication of important events during the first six months and
description of principal risks and uncertainties for the remaining six months of the
year); and
c. the interim management report includes a fair review of the information required by
DTR 4.2.8R (disclosure of related parties’ transactions and changes therein).
Cautionary statement
This Interim Management Report (IMR) has been prepared solely to provide additional
information to shareholders to assess the Company’s strategies and the potential for
those strategies to succeed. The IMR should not be relied on by any other party or for
any other purpose.
Duncan Soukup
Chairman
Thalassa Holdings Ltd
26 September 2024
Financial Review
Total income from operations for the period to 30 June 2024 was £0.3m (1H23: £0.2m).
Income benefited from a £0.2m unrealised gain on Thalassa’s holding in NWT.
Cost of Sales was £5k (1H23: £15k) comprising development costs (net of capitalised
costs) at ARL and direct financial holdings expenses, resulting in a Gross Profit of
£0.3m (1H23: gross profit £0.2m).
Administration expenses were negative £0.1m, i.e. a slight income (1H23: £0.4m expense).
This was positively impacted by the decision of the Chairman to waive all of his
consultancy fees carried forward from 2022 and 2023. We should like to point out that, as
in past periods, Mr Soukup’s 2024 fees have been accrued, but not yet paid. Depreciation
costs were £0.01m (1H23: £0.16m). This reduction was due to the surrender of the Swiss
office lease by the Company’s subsidiary Alfalfa.
Operating Profit improved to £0.3m (1H23 Loss: £0.4m).
Other income benefited from a £17k net gain on book value on the surrender of the afore
mentioned lease. Until surrender, some of this property had been sublet, which covered
total lease expenditure.
Profit before tax was £0.2m (1H23 loss: £0.5m).
Net assets at 30 June 2024 amounted to £9.5m (1H23: £9.6m).
Net cash (being cash balances less any financial borrowings) was £1.4m as at 30 June 2024
(1H23: £0.6m).
Current and Non-current lease liabilities became nil on the surrender of the Villa
Kramerstein lease.
The reduction in other receivables and other payables was driven by the formal offsetting
of most of a receivables balance from an entire payables balance to a single
counterparty, ID4 AG / Apeiron AG. The payable was from Alfalfa in relation to an assets
purchase from id4 AG prior to the acquisition by the Company; and the receivable is in
relation to a balance owed to the Company from the former Apeiron AG.
Net cash outflow from operating activities amounted to £0.15m compared to £0.10m in
1H23.
Net cash outflow from investing activities amounted to £0.02m, compared to 1H23 inflow of
£0.39m.
Net cash inflow from financing activities amounted to £1.45m (1H23: outflow £0.14m). This
was driven by the Tappit restitution agreement. The Chairman contributed £1.5m in the 6
month period to 30 June 2024. A further £0.6m was contributed by the Chairman in August
2024.
Interim Condensed Consolidated Statement of Income
For the six months ended 30 June 2024
Six months Six months Year
ended ended ended
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
Note GBP GBP GBP
Income 102,599 118,673 252,129
Net gains/(losses) on investments at fair value 198,600 118,426 282,809
Investment dividend income 4,153 770 770
Currency gains/(losses) 440 - 48
Total Income 305,792 237,869 535,756
Financial holdings expenses (4,987) (7,958) (15,199)
Other cost of sales (312) (7,096) (12,926)
Total Cost of sales (5,299) (15,054) (28,125)
Gross Profit 300,493 222,815 507,631
Administrative expenses excluding exceptional costs 102,674 (429,067) (900,853)
Operating profit/(loss) before depreciation 403,167 (206,252) (393,222)
Depreciation and Amortisation 4&5 (92,676) (164,488) (256,425)
Operating profit/(loss) 310,491 (370,740) (649,647)
Net financial income/(expense) (3,414) (11,454) (23,888)
Other gains/(losses) 16,675 - 17,734
Share of losses of associated entities (82,642) (143,962) (307,940)
Profit/(loss) before taxation 241,110 (526,156) (963,741)
Taxation (435) (528) 72,036
Profit/(loss) for the year 240,675 (526,684) (891,705)
Attributable to:
Equity shareholders of the parent 240,675 (526,684) (891,705)
Non-controlling interest - - -
240,675 (526,684) (891,705)
Earnings per share - GBP (using weighted average
number of shares)
Basic and Diluted 3 0.03 (0.07) (0.11)
The notes on pages 13 to 18 form an integral part of this consolidated interim financial
information.
Interim Condensed Consolidated Statement of Comprehensive Income
For the six months ended 30 June 2024
Six months Six months Year
ended ended ended
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
GBP GBP GBP
Profit/(loss) for the financial year 240,675 (526,684) (891,705)
Other comprehensive income:
Exchange differences on re-translating foreign 15,851 (83,113) (200,015)
operations
Total comprehensive income 256,526 (609,797) (1,091,720)
Attributable to:
Equity shareholders of the parent 256,526 (609,797) (1,091,720)
Non-Controlling interest - - -
Total Comprehensive income 256,526 (609,797) (1,091,720)
The notes on pages 13 to 18 form an integral part of this consolidated interim financial
information.
Interim Condensed Consolidated Statement of Financial Position
As at 30 June 2024
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Note Unaudited Unaudited Audited
Assets GBP GBP GBP
Non-current assets
Intangible assets 4 1,810,615 1,514,815 1,697,313
Property, plant and equipment 5 30,369 1,838,423 1,729,924
Loans 7 3,305,798 4,776,479 4,785,629
Investments in associated entities 8 1,946,174 2,199,253 2,019,367
Total non-current assets 7,092,956 10,328,970 10,232,233
Current assets
Trade and other receivables 311,219 714,821 788,782
Investments at fair value through profit or loss 6 1,352,143 726,371 1,159,250
Cash and cash equivalents 1,445,949 614,365 143,295
Total current assets 3,109,311 2,055,557 2,091,327
Liabilities
Current liabilities
Trade and other payables 739,362 1,221,922 1,539,749
Lease liabilities 9 - 159,783 173,325
Total current liabilities 739,362 1,381,705 1,713,074
Net current assets 2,369,949 673,852 378,253
Non-current liabilities
Lease liabilities. 9 - 1,404,237 1,404,107
Total non-current liabilities - 1,404,237 1,404,107
Net assets 9,462,905 9,598,585 9,206,379
Shareholders’ Equity
Share capital 11 128,977 128,977 128,977
Share premium 21,717,786 21,717,786 21,717,786
Treasury shares (8,558,935) (8,558,935) (8,558,935)
Other reserves (1,696,321) (1,696,320) (1,696,321)
Foreign exchange reserve 4,246,691 4,258,024 4,230,840
Retained earnings (6,375,293) (6,250,947) (6,615,968)
Total shareholders' equity 9,462,905 9,598,585 9,206,379
Total equity 9,462,905 9,598,585 9,206,379
The notes on pages 13 to 18 form an integral part of this consolidated interim financial
information.
These financial statements were approved by the board on 26 September 2024.
Signed on behalf of the board by:
Duncan Soukup
Interim Condensed Consolidated Statement of Cash Flows
For the six months ended 30 June 2024
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
Notes GBP GBP GBP
Profit/(Loss) before financing from: 310,491 (370,740) (649,647)
Adjustments for:
Net finance costs (24,879) (94,190) (279,715)
Other income - - 17,734
(Increase)/decrease in trade and other receivables 477,563 50,481 (23,480)
(Decrease)/increase in trade and other payables (800,387) 11,112 328,938
(Gain)/loss on disposal of portfolio investments 18 60,404 -
Net exchange differences (3,108) 141,680 (65,125)
Depreciation/Amortisation 4&5 92,676 164,488 256,425
Fair value movement on portfolio investments (198,843) (62,226) -
Cash generated by operations (146,469) (98,991) (414,870)
Taxation (435) (528) 72,036
Net cash flow from operating activities (146,904) (99,519) (342,834)
Sale/(purchase) of property, plant and equipment 100,724 (2,320) (2,320)
Sale/(purchase) of intangible assets 4 (117,484) (184,244) (385,983)
Net (purchase)/sale of portfolio investments 6 (4,495) 648,613 (177,912)
Investments in associated entities - (68,642) -
Investment in subsidiaries - - 29,217
Net cash flow in investing activities (21,255) 393,407 (536,998)
Cash flows from financing activities
Interest Income 619 7,731 13,437
Interest Expense (1,948) (1,522) -
Loans collected 1,511,575 - -
Repayment of borrowings 9 (55,284) (145,128) (173,982)
Net cash flow from financing activities 1,454,962 (138,919) (160,545)
Net increase in cash and cash equivalents 1,286,803 154,969 (1,040,377)
Cash and cash equivalents at the start of the year 143,295 629,215 1,383,687
Effects of exchange rate changes on cash and cash 15,851 (169,819) (200,015)
equivalents
Cash and cash equivalents at the end of the year 1,445,949 614,365 143,295
The notes on pages 13 to 18 form an integral part of this consolidated interim financial
information.
Interim Condensed Consolidated Statement of Changes in Equity
For the six months ended 30 June 2024
Share Share Treasury Other Foreign Retained
Exchange
Capital Premium Shares Reserves Reserve Earnings Total
GBP GBP GBP GBP GBP GBP GBP
Balance as at
31 December 128,977 21,717,786 (8,558,935) (1,696,320) 4,430,855 (5,724,263) 10,298,100
2022
Foreign
exchange on - - - - (89,718) - (89,718)
translation
Total
comprehensive - - - - (83,113) (526,684) (609,797)
income
Balance as at 128,977 21,717,786 (8,558,935) (1,696,320) 4,258,024 (6,250,947) 9,598,585
30 June 2023
Exchange on
conversion to - - - (1) - - (1)
GBP
Total
comprehensive - - - - (27,184) (365,021) (392,205)
income
Balance as at
31 December 128,977 21,717,786 (8,558,935) (1,696,321) 4,230,840 (6,615,968) 9,206,379
2023
Total
comprehensive - - - - 15,851 240,675 256,526
income
Balance as at 128,977 21,717,786 (8,558,935) (1,696,321) 4,246,691 (6,375,293) 9,462,905
30 June 2024
The notes on pages 13 to 18 form an integral part of this consolidated interim financial
information.
Notes to the Interim Condensed Consolidated Financial Information
1. General information
Thalassa Holdings Ltd (the “Company”) is a British Virgin Island (“BVI”) International
business company (“IBC”), incorporated and registered in the BVI on 26 September 2007.
The Company is a holding company with various interests across a number of industries.
Autonomous Robotics Limited (“ARL” – formerly GO Science 2013 Ltd) is a wholly owned
subsidiary of Thalassa and is an Autonomous Underwater Vehicle (”AUV”) research and
development company.
Apeiron Holdings (BVI) Ltd is a BVI registered company and is wholly owned by Thalassa.
It owns 100% of Alfalfa Holdings AG which is a company registered in Switzerland.
WGP Geosolutions Limited is a wholly owned subsidiary of Thalassa currently
non-operational.
Thalassa Holdings (II) Ltd is a wholly owned subsidiary of Thalassa which is
non-operational, incorporated and registered in the BVI on 30 January 2023.
DOA Alpha Ltd is a wholly owned subsidiary of Thalassa which is non-operational and
registered in the BVI. It has two additional subsidiaries, DOA Exploration Ltd registered
in England and Wales and DOA Delta Ltd registered in the BVI, both non-operational.
2. Significant Accounting policies
The Company prepares its accounts in accordance with applicable UK Adopted International
Accounting Standards.
The accounting policies applied by the Company in this unaudited consolidated interim
financial information are the same as those applied by the Company in its consolidated
financial statements as at and for the period ended 31 December 2023 except as detailed
below.
The financial information has been prepared under the historical cost convention, as
modified by the accounting standard for financial instruments at fair value.
2.1. Basis of preparation
The condensed consolidated interim financial information for the six months ended 30 June
2024 has been prepared in accordance with International Accounting Standard No. 34,
‘Interim Financial Reporting’. They do not include all of the information required for
full annual financial statements and should be read in conjunction with the consolidated
financial statements of the Company as at and for the year ended 31 December 2023. Prior
year comparatives have been reclassified to conform to current year presentation.
These condensed interim financial statements for the six months ended 30 June 2024 and 30
June 2023 are unaudited and do not constitute full accounts. The comparative figures for
the period ended 31 December 2023 are extracted from the 2023 audited financial
statements. The independent auditor’s report on the 2023 financial statements was not
qualified.
All intra-company transactions, balances, income and expenses are eliminated in full on
consolidation.
2.2. Going concern
The financial information has been prepared on the going concern basis as management
consider that the Company has sufficient cash to fund its current commitments for the
foreseeable future.
Notes to the Interim Condensed Consolidated Financial Information Continued
3. Earnings per share
Six months Six months Year
ended ended ended
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
The calculation of earnings per share is based on
the following loss and number of shares:
Profit/(loss) for the period 240,675 (526,684) (891,705)
Weighted average number of shares of the Company 7,945,838 7,945,838 7,945,838
Earnings per share:
Basic and Diluted (GBP) 0.03 (0.07) (0.11)
Number of shares outstanding at the period end: 7,945,838 7,945,838 7,945,838
4. Intangible assets
Development
costs Patents Software Total
GBP GBP GBP GBP
At 31 December 2023
Cost 1,512,237 180,894 25,096 1,718,227
Accumulated amortisation - - (20,914) (20,914)
Net book amount 1,512,237 180,894 4,182 1,697,313
Half-year ended 30 June 2024
Opening net book amount 1,512,237 180,894 4,182 1,697,313
1,512,237 180,894 4,182 1,697,313
Additions 108,636 8,848 - 117,484
Disposals - - (696) (696)
Amortisation charge - - (3,486) (3,486)
Closing net book amount 1,620,873 189,742 - 1,810,615
At 30 June 2024
Cost 1,620,873 189,742 - 1,810,615
Accumulated amortisation - - - -
Net book amount 1,620,873 189,742 - 1,810,615
The intangible assets held by the Company increased as a result of capitalising the
development costs of Autonomous Robotics Ltd (“ARL”).
Notes to the Interim Condensed Consolidated Financial Information Continued
5. Property, plant and equipment
Plant
Land and and Motor
Total buildings Equipment Vehicles
Cost GBP GBP GBP GBP
Cost at 1 January 2024 2,516,307 2,146,991 132,803 236,513
FX movement (30,630) (30,630) - -
2,485,677 2,116,361 132,803 236,513
Additions - - - -
Disposals (2,118,090) (2,116,361) (1,729) -
Cost at 30 June 2024 367,587 - 131,074 236,513
Depreciation
Depreciation at 1 January 2024 786,383 462,300 130,237 193,846
FX movement 69,318 69,318 - -
855,701 531,618 130,237 193,846
Charge for the year on continuing operations 89,190 74,326 642 14,222
Disposal (606,188) (604,459) (1,729) -
Foreign exchange effect on year end (1,485) (1,485) - -
translation
Depreciation at 30 June 2024 337,218 - 129,150 208,068
Closing net book value at 30 June 2024 30,369 - 1,924 28,445
6. Securities
The Company classifies the following financial assets at fair value through profit or
loss (FVPL):-
Equity investments that are held for trading.
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
GBP GBP GBP
Securities
At the beginning of the period 1,159,250 504,877 504,877
Additions 8,700 521,167 880,004
Unrealised gain/(losses) 198,824 179,051 283,031
Disposals (4,205) (475,713) (636,895)
Reclassification of Motor Vehicles to Afs investments - - 120,244
Forex on opening balance (10,426) (3,011) 7,989
At period close 1,352,143 726,371 1,159,250
Investments have been valued incorporating Level 1 inputs in accordance with IFRS7.
Notes to the Interim Condensed Consolidated Financial Information Continued
7. Loans and holdings
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
GBP GBP GBP
Loans at period open 1,501,158 1,532,469 1,532,469
Accrued interest - to be waived 22,794 22,186 45,239
Forex on opening balance 8,950 (62,647) (76,550)
Loans at period close 1,532,902 1,492,008 1,501,158
Portfolio Holdings at 1 January 3,284,471 4,038,944 3,284,471
Repaid (1,511,575) - -
Reclassification under portfolio holdings - (754,473) -
Portfolio holdings at period close 1,772,896 3,284,471 3,284,471
Total of loans and holdings 3,305,798 4,776,479 4,785,629
The Loan is to the THAL Discretionary Trust, the terms of the loan are set with a 0%
interest rate however interest has been accrued at 3% as per IFRS requirements, it is the
intention of the Company to waive this interest upon repayment of the capital.
8. Investments in associated entities
On 17 December 2021, the acquisition of id4 was complete by Anemoi International Ltd with
consideration in the form of shares issued to Thalassa and its subsidiary Aperion BVI
totalling 36.92% of the voting rights. The investment is recognised using the equity
method as described in the financial statements for December 2022. During 2023 further
shares were purchased to equal a total of 40.77% of the voting rights. The investment is
recognised using the equity method.
Athenium Consultancy Ltd in which the Company owns 35% shares was incorporated on 12
October 2021.
Movement on interests in associates can be summarised as follows:
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
GBP GBP GBP
Fair value of investment at beginning of period 2,019,367 2,356,526 2,356,526
Share of losses for the period (82,854) (143,803) (307,862)
Additions - 68,642 68,642
Exchange Variance 9,661 (82,112) (97,939)
1,946,174 2,199,253 2,019,367
There are no other entities in which the Company holds 20% or more of the equity, or
otherwise exercises significant influence over the affairs of the entity.
Notes to the Interim Condensed Consolidated Financial Information Continued
9. Lease liabilities
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
Non-current liabilities GBP GBP GBP
Lease liabilities - 1,404,237 1,404,107
- 1,404,237 1,404,107
Current liabilities
Lease liabilities - 159,783 173,325
- 159,783 173,325
The lease liabilities comprise of amounts owed in relation to office leases held by ARL
and Alfalfa Holdings AG. The lease held by ARL was surrendered June 2024. The lease held
by Alfalfa Holdings AG was entered in to in Feb 2021 and surrendered Apr 2024.
10. Related party balances and transactions
Under the consultancy and administrative services agreement initially entered into on 3
January 2011 and most recently updated 1 February 2018 with a company in which the
Chairman has a beneficial interest, the Company waived £535,295 related to 2022 & 2023
and accrued £133,100 (1H23 accrued: £130,362) for consultancy and administrative services
provided to the Company. As at 30 June 2024 the amount owed to this company was £251,690
(1H23: £524,868).
Athenium Consultancy Ltd, a company in which the Company owns shares invoiced the Company
for financial and corporate administration services totalling £90,750 for the period
(June 2023: £90,750).
The Company was due £13,149 (June 2023: £9,372) from Anemoi International Ltd, a company
in which through its subsidiary Apeiron Holdings BVI holds shares and is related by
common control through the Chairman, Duncan Soukup.
As at the period end the Company was due £44,380 (June 2023: £49,887) from Alina Holdings
Limited, a company under common directorship.
Notes to the Interim Condensed Consolidated Financial Information Continued
11. Share capital
As at As at As at
30 Jun 24 30 Jun 23 31 Dec 23
Unaudited Unaudited Audited
GBP GBP GBP
Authorised share capital:
100,000,000 ordinary shares of $0.01 each 1,000,000 1,000,000 1,000,000
Exchange Rate for Conversion 1.61674 1.61674 1.61674
100,000,000 ordinary shares of $0.01 each in GBP 618,529 618,529 618,529
Allotted, issued and fully paid:
20,852,359 ordinary shares of $0.01 each 208,522 208,522 208,522
Average Exchange Rate for Conversion 1.61674 1.61674 1.61674
20,852,359 ordinary shares of $0.01 each in GBP 128,977 128,977 128,977
The exchange rate used for conversion is the aggregate rate for the transactions as they
occurred.
12. Subsequent events
There were no reportable subsequent events.
13. Copies of the Interim Report
The interim report is available on the Company’s website:
7 www.thalassaholdingsltd.com.
END
For further information, please contact:
Enquiries: 8 enquiries@thalassaholdingsltd.com
Thalassa Holdings Ltd
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Dissemination of a Regulatory Announcement that contains inside information in accordance
with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: VGG878801114
Category Code: IR
TIDM: THAL
LEI Code: 2138002739WFQPLBEQ42
OAM Categories: 1.2. Half yearly financial reports and audit
reports/limited reviews
Sequence No.: 349410
EQS News ID: 1996719
End of Announcement EQS News Service
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