Thalassa Share Discussion Threads

[phowdo] 25/11/2014 07:53

Looks like shareholders are the "old muggins" (or is that Auld Mug Inns?) again...

[bookbroker] 25/11/2014 07:52

Everything stated was expected, the news on contracts hardly a surprise with the sanctions as they are, the co is valued at not much mor than cash, so they need to preserve that, nobody in their right mind would have believed they would meet forecasts!

[kooba] 25/11/2014 07:36

Only surprise is they actually edged better yesterday rather than the usual 10% slip pre announcements from aim.but that will be reversed and a lot more today.Nasty warning not unexpected for current year but hardly inspiring going into 2015.Well at least they've got some nice new offices courtesy of the chairman to do less business from...maybe get a decent rec room with a pool table to wile away the hours?

[itchycrack] 25/11/2014 07:29

Expected, yes, especially in the light of the recent profit warning from Petroac the other day.

[molatovkid] 25/11/2014 07:19

A bit of a shocker that one - was this expected?

Clearly yes, by those in the know...hence the price falling from were it was

[ammons] 25/11/2014 07:15

Heavens above! Major profit warning this morning.

[kooba] 13/11/2014 16:40

SpeedshgI believe Mr Soukup is a resident of Monaco hence why co's registered there...so as a tax exile his time in uk is restricted.also probably why he takes his £200k fee as consultancy not salary...think he doesn't like tax...who does!

[janeann] 12/11/2014 14:41

Speedsgh - any help: note the last couple of appointments........

Joint director is..........
Mr Julian Kendall Henley-price

Director Profile

Mr Julian Kendall Henley-price, aged 44, is a director in 6 companies and a secretary in 1 company. Julian Kendall has resigned from 3 of these appointments.

Mr Julian Kendall Henley-price

Country Of Residence: England, United Kingdom
Nationality: British
Date of Birth: December 1969 (44 years of age)
Occupation: , Barrister, Company Director



Current Appointments

4


Resigned Appointments

3


Appointments

Forest Inns (UK) Limited
Northpoint Printing Ltd
Kendso Limited
Auld Mug Inns Limited
Autonomous Robotics Limited
Eastleigh Stables Limited
Eastleigh Court Limited

[speedsgh] 12/11/2014 11:49

Anybody know anything about Auld Mug Inns Ltd, incorporated in Jun 2013? Our Mr Soukup appears to be a founding director + the registered office was recently changed to Eastleigh Court.



Mr Soukup seems to have an interest in several companies scattered across the globe, not least a few registered in Monaco/Monte Carlo. He seems to like his tax havens where it is v difficult to find out info on companies registered there.

[pj 1] 12/11/2014 10:57

New Fortress?
I believe they are building a moat and battlements around the new HQ, Soukup Castle.

[janeann] 12/11/2014 10:45

yes - in a serious way. Pity it isn't easier to find out more about them.

[rcturner2] 12/11/2014 10:17

New Fortress continuing to add.

[sigala] 22/10/2014 18:53

Certainly plenty of stuff in that RNS, all quite interesting really.

I'm actually quite tempted by the offer of a room in the Stables @£100 per night for a little recreational/sporting use myself - it sounds like a very pleasant place for a weekend getaway. I wonder if they're taking bookings for Easter yet?

But I wouldn't want the neighbours testing their blasted seismic equipment in the building next door - that would go straight into my report on tripadvisor.

Overall this property thing doesn't really alarm me, as another poster noted Mr Soukop's stake in THAL has plummeted in value by far more than any return he could have got on the property. It's a red herring to think that he's fiddling around to make a few , 000s on the lease.

More generally, though, I think this whole episode should be a wake up call to the BoD that if they want their listed company to shine in the stock market, then transparency is essential. Investors are understandably wary of related party transactions, and opaque discretionary trusts borrowing £ms from the company.

Again, at the risk of sounding naive, Mr Soukops leadership of his company over the years has suggested to me that he is a man of integrity. But even if that is the case he should be careful to keep the market fully informed with what he is doing.

A lack of disclosure and/or transparency suggests one thing to most investors and they will stay well away.

IMHO, NAI

[rcturner2] 22/10/2014 17:24

I think we will have to agree to differ. The facts are out there as regards the trust and the lease, neither issue bothers me greatly. I appreciate some will take a negative view, so it is not the best from a PR point of view, but I do not believe that either issue is actually material for the company. What is far more important is the actually business of getting contracts signed and work done for moneys worth.

[kooba] 22/10/2014 12:43

Just the ghost

[stemis] 22/10/2014 12:29

The suggestion is that there is no other tenant in Eastleigh Court

[pj 1] 22/10/2014 11:41

How far do staff have to travel to work?

[cockerhoop] 22/10/2014 10:56

RCTurner2,

Not sure where you got the impression that I was suggesting that management waste time on property deals. All I was questioning was the calculation by ECL (and repeated by Stemis) of the yield when they are excluding 25% of the property and the grounds.

As it happens I don't think the deal in itself to rent Eastleigh Court is particularly bad for shareholders but the structure of the deal gives the impression that it was done for the best interests of DS rather than THAL. Related party deals are a red flag for me if significant.

It certainly stretches my credibility that THAL found the ideal property for their business, then DS bought both Eastleigh Court, grounds and also the Stables without DS having additional plans for the other properties. He could of only bought Eastleigh Court.

Does anyone know the details of Sports/Recreation alluded to in the RNS?

[speedsgh] 22/10/2014 10:54

Why Warminster? I know it's a bit closer to larger conurbations than Bude in Cornwall but would they not have been better off located close to London (close to major international airports e.g. LHR to take them to potential overseas customers) or even in Aberdeen (where potential customers may have UK offices)? I'm sure the current staff could be easily incentivised to up sticks.

It would interesting to know why they feel it was preferable to be in a rural location. Is this cost or lifestyle driven?

[kooba] 22/10/2014 10:35

Oh and DS taking £200k of consultancy fees is effectively executive director status ...so management have spent time on this property transaction...but for there own interests.