Thalassa Share Discussion Threads

[pj 1] 03/10/2014 06:51

Lets keep it all in-house Boys.

10,000 SQ ft. I would have thought the fair contract would have been for 5 years and with break clause's

No mention of those.

[gwr7] 03/10/2014 06:12

This is being run as a Suckup benefit IMO.

[janeann] 29/9/2014 06:56

well New Fortress Finance Holdings think they are worth buying - now at 7% after another 50k

[stemis] 25/9/2014 16:38

If anyone is interested I have further information on the Loan to the THAL Discretionary Trust.

The loan was made to allow the Trust to acquire shares for the incentivisation of management and employees. Eventually the trust will sell the shares and use the proceeds first to pay off the loan and interest, with the balance going to the beneficiaries. Consequently, if the share price increases, the beneficiaries see the benefit but without having to fund the original purchase of shares. In that way it's like an option but without issuing new shares.

The Trust currently holds 2,878,667 shares and the loan, including interest, is $7,256,904. So, at current exchange rates that's about 155p a share. If the Trust sold the shares now (assuming it could get the current share price of 140p) then there would be a shortfall of $688,000. Not a huge amount relative to a tNAV of $49m.

[merrimac] 25/9/2014 08:07

I read that news related to the ammendment also...hmmmm

[jmf69] 25/9/2014 06:37

Someone thinking of a takeover?

[stemis] 19/9/2014 13:47

THAL have been doing an investor roadshow this week, so it appears some liked what they heard.

In terms of the employee share trust remember although it bought 1,000,000 ordinary shares in the Company at £2.70 per share, it also holds 1,078,667 ordinary shares in the Company at a price of 26.4p per share.

[cestnous] 19/9/2014 09:33

From I.C. today;

THALASSA T HAL
What we said: Buy When: 21 August 2014 Price: 171p Share price change to date: -19%
Our decision to peg our colours to the mast with oil services company Thalassa (THAL) and recommend readers take advantage of a share price slip has proved to be a mistake. That’s because the stock dropped 25 per cent on news that Russian sanctions would hit second-half revenue to the tune of $10m (£6.1m). Unpaid bills and yet-to-be repatriated equipment means Thalassa could, in the worst-case scenario, also be on the line for a $4.1m hit from recent work with Russia’s SMG.
Broker WH Ireland has adjusted full-year forecasts down by $10.3m to $26.3m as a consequence and its pre-tax profit prediction is now 10 per cent lighter at $4.5m. But Thalassa’s niche position, strong pipeline of non-Russian business and $21m of cash all hold promise. So while the timing of our tip is extremely regrettable, we’re standing firm at 139p. AH
Buy

[rbonnier] 18/9/2014 17:42

Very very strong short and imho 0.2p before administration !!!! A profit warning on full year results will have this collapse sub 75p imo .RBonnier trading as the Dreaded Zombies will punish this stock until we have sucked the last drop of blood from this pile of dung.....Short !

[speedsgh] 18/9/2014 13:52

Blimey, we appear to actually have a buyer! Hopefully they're soaking up some of the Henderson overhang. The sooner their stake is taken out the better. Don't expect much progress until then.

[pj 1] 18/9/2014 10:50

Yep you did
Egg on my chin!

[varies] 18/9/2014 08:55

Whilst the sharp fall in the share price this year, especially this week, is justified by events, most of us took a much rosier view of THAL at the time that Mr Soukup sold a million shares to the staff fund at 270p. THAL had, after all, raised £18m at 250p a few months earlier. So I don't think GWR's strictures are fair to him.
I sold half my holding at c240p in April/May this year and naturally wish I had sold the other half as the price declined. At present levels I am tempted to buy these shares back but it seems prudent to wait a few weeks whilst the dust settles.
Thanks to having raised money twice last year THAL has cash not far short of its present market capitalisation and, I believe, excellent medium term prospects both for the main business and its GO acquisition.
We shall see.

[speedsgh] 17/9/2014 20:53

From ST's article...

"I rate Thalassa shares a decent medium-term buy, albeit I have reduced my own 12-month fair value target price to around 250p, or the equivalent of 18 times 2015 cash adjusted EPS estimates."

EDIT - his previous target was 350p.

[baracuda2] 17/9/2014 15:38

What happened to st £3.80 target???

[firtashia] 17/9/2014 14:11

ST not having a good week, IQE taking a battering too. One has to revisit why the so called "experts" in the press are kind enough to share their expertise with us, when if they were making good money picking stocks they'd be doing it from home full time and we'd never hear of their recommendations. Easy enough to pick 50+ stocks on paper a year, every year, and easy enough to recommend buying more THAL following the drop yesterday, I wonder if the experts put their own money where their mouths are?

[bluerunner] 17/9/2014 11:16

ST recommending 'buy' with 250p target.

[gwr7] 17/9/2014 09:12

From a corporate governance viewpoint I regard this as completely uninvestable. As has been pointed out, Thalassa is lending money to a Thalassa trust to buy shares in Thalassa. This seems reminiscent of the activities of Enron. The trust is supposedly a beneficial trust for employees of the company but it is under water, largely due to the purchase of 1 million shares from chairman Soukup at the startling price of £2.70 (using a loan from the company). This was a beneficial exit for Soukup, who is a trustee (lol) but not so good for thin cat employees and shareholders.
The thing is, the trust has racked up over $7m of loans from the company. As it is under water on the shares it has bought it has no means of paying back these loans so by rights you would think they ought to be impaired. Given also that Thalassa pays a company in which Soukup has an interest over 400k a year on consultancy fees I can see why it's registered in the British Virgin Islands.
Barge pole job for me.

[sigala] 16/9/2014 22:09

At the risk of sounding like an idiot.........the interim results RNS read a little better to me tonight than when I skimmed it this morning before going to work.

For sure there are some rather ugly things in there, but some of their other stuff seems to be moving
ahead OK IMHO.

I would like to see them commercialise the Go Science robotics at the earliest opportunity. I think that some cash flow from that acquisiton would reassure me that it wasn't going to be a long running money pit of a development project.

I don't think THAL could or should have notified the market about the Russian problems any earlier. They are presenting their best guess about what may happen given the latest situation, rather than reporting that a contract has actually been formally cancelled by a customer (which it hasn't so far, AFAICS). So it's more of a subjective opinion than hard fact.

Anyway, I will be quite happy if that is last "kitchen sinking" that THAL deliver to me at 7 in the morning!

regards