REG-Thalassa Holdings Ltd Thalassa Holdings Ltd: Proposed Equity Placing

Thalassa HoldingsAnnouncement

11/12/2024 07:45

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   Thalassa Holdings Ltd (THAL)
   Thalassa Holdings Ltd: Proposed Equity Placing

   11-Dec-2024 / 07:30 GMT/BST

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                             Thalassa Holdings Ltd

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

                      (“Thalassa, “THAL” or the “Company”)

                            Proposed Equity Placing

    

   Introduction

   Thalassa is a diversified holding company  with investments in a range  of
   public and  private  businesses  in  the  FinTech/RegTech,  MedTech,  Deep
   Tech/Robotics & Real Estate sectors.

   Thalassa aims to target a  limited number of acquisition opportunities  in
   both the  public  and  private  markets.  Thalassa  is  an  opportunistic,
   fundamental value investor willing to back excellent management teams over
   the long term. Professional Integrity, honesty and accountability are  the
   pillars of our business.

   Thalassa’s goal is to deliver long  term shareholder value from a  limited
   number of holdings. We actively engage  with the management and boards  of
   our holdings and  contribute experience  and expertise  to support  growth
   plans,  encourage   operational  transformation   or  facilitate   product
   extension and market expansion.

   The board  of Thalassa  (the ‘Board’)  believes that  the US  markets  are
   currently significantly  overvalued and  long  overdue for  a  correction,
   whilst the UK and European markets are likely to suffer further  headwinds
   due to increased  political turmoil (France,  Germany) exacerbated by  the
   war in Ukraine, increased global  competition, and the increasing risk  of
   trade wars  and  punitive  tariffs.  The  Board  sees  the  aforementioned
   problems as opportunities to benefit from coming price dislocation and has
   decided to seek  further equity  capital by  way of  a placing,  described
   further below, in order that it is  in a position to maximise its  ability
   to participate in such opportunities.

   Placing

   Thalassa is  pleased  to announce  that  it  has entered  into  a  placing
   agreement with Peterhouse  Capital Limited (“Peterhouse”)  to carry out  a
   placing which  will be  targeted at  selected financial  institutions  and
   existing Thalassa shareholders (“Placing”).

   Thalassa and its advisers are currently seeking approval from the FCA  for
   the publication of a prospectus which is required in order for the placing
   shares to be admitted  to the Equity Shares  (Transition) category of  the
   Official List  of the  FCA and  to the  main market  of the  London  Stock
   Exchange plc (“Admission”).  Completion of the  Placing is conditional  on
   Admission.

   The Placing will be in the form of an auction process or ‘Dutch Auction’. 
   Peterhouse will seek bids  from interested parties  for placing shares  in
   the range  of  £0.20  to  £0.30 per  placing  share.  Interested  Thalassa
   shareholders and  those appropriately  qualified investors  approached  by
   Peterhouse will  be able  to bid  for placing  shares at  a price  in  the
   specified range and for  an amount of their  choosing. The final price  at
   which the Placing will be  completed (“Placing Price”) will be  determined
   by the independent  directors of the  Board after they  have taken  advice
   from Peterhouse on all of the bids received, the price at which they  have
   been made and for  how many placing shares.  Those interested parties  who
   make a bid which is above  the finally determined Placing Price will  have
   their bids filled at the lower Placing Price. Those parties who make a bid
   below the Placing Price will not be able to participate in the Placing.

   Mr Soukup, and parties associated with him, have indicated their intention
   to participate in the placing up to £2 million at a price to be determined
   independently of each  other and  by the  outcome of  the 'Dutch  Auction'
   process.

   Application to the Placing

   To apply for  Placing Shares,  Existing Shareholders  and other  qualified
   investors should communicate their bid to Peterhouse via their stockbroker
   as Peterhouse cannot take direct orders from individual private investors.
   Existing Shareholders or  other interested  parties who  wish to  register
   their interest  in participating  in the  Placing Shares  should  instruct
   their stockbroker to call Peterhouse on STX: 76086 or 020 7469 0938 or 020
   7469 0936 or 020 7220  9797. Each bid should  state the number of  Placing
   Shares the  existing shareholder  or other  qualified investor  wishes  to
   subscribe for, at what Placing  price and the size  of the order in  which
   they wish to participate.

   Timetable

   The  Placing  is  conditional,  inter  alia,  upon  the  FCA  approving  a
   prospectus which the Board is targeting to achieve before the end of 2024.
   Peterhouse will be commencing the Placing today with a view to  completing
   the auction process by Friday 13th December 2024 at the latest.

    

    

                                      END

    

    

   MARKET ABUSE REGULATION DISCLOSURE

   The information  contained  within  this announcement  is  deemed  by  the
   Company to constitute inside information for the purposes of Article 7  of
   the EU Market Abuse  Regulation (EU) No  596/2014 as it  forms part of  UK
   domestic law by  virtue of  the European  Union (Withdrawal)  Act 2018  as
   amended ("UK MAR"), and Article 7 of the Market Abuse Regulation (EU)  No.
   596/2014 ("EU MAR"). The Company is solely responsible for the content  of
   this announcement.

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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: MSCH
   TIDM:          THAL
   LEI Code:      2138002739WFQPLBEQ42
   Sequence No.:  364332
   EQS News ID:   2048383


    
   End of Announcement EQS News Service

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