Thalassa Share Discussion Threads

[frazboy] 19/4/2017 17:59

The only two documents I could find that state that DS is a trustee are here:

hxxp://thalassaholdingsltd.com/documents/2014.01.08-ShareDealings.pdf

hxxp://thalassaholdingsltd.com/documents/20121123.GrantofOptionsandDirectorsDealings.pdf

There's nothing about any other trustees but presumably there are other trustees. As for how the trust would vote in the hypothetical situation outlined above, who knows. This quote is from the 2014 accounts:

"The THAL Discretionary Trust is a trust, independent of Thalassa, established for the benefit of individuals or parties to whom the Trustees wish to make awards at their discretion."

[kooba] 19/4/2017 16:04

Doubt he is only trustee and doubt he can vote for the trust on such an issue....treasury stock won't vote ...which could amplify his influence though.On a plus if they have over £1 liquid then the treasury purchases so far should add value for all shareholders...especially on distribution.

[frazboy] 19/4/2017 14:55

kooba - I think it's more like 69% not under DS's control; I think DS is guardian of the trust too.

[kooba] 19/4/2017 14:41

Well I suppose it will be subject to shareholder vote...if the majority vote in favour of leaving a big pile of cash for DS to play with then I suppose if you don't like the idea then vote with your feet?But I suspect the 80% of shares not owned by DS may require some distribution unless there is a nailed down strategy?

[frazboy] 19/4/2017 14:15

Quite, Greenroom. Why return the funds to shareholders, when it's essentially free leverage for investments, whilst drawing a salary of £200k?

Regardless, I'm looking forward to news of any sale developments - as much out of curiosity as anything else.

[greenroom78] 19/4/2017 14:00

Problem is if he sells the assets who is to say he'll just divi out the cash, you never know what we'll end up being invested in.

[kooba] 19/4/2017 13:29

accusing the chairman and the nomad of deliberately misleading shareholders is quite possibly libellous? ...and as mentioned to what End???He thinks market doesn't value the parts of the business correctly and with shares trading at big discount to 'value' he can't use the paper to do enhancing acquisitions so he can't really build the oil services business either.As to what he does if the sales progress ?? Can either liquidate and repay holders full or in part or change strategy ...which is already fairly random as a group.I personally think DS is suited to running an activist fund...maybe that would be the direction.

[frazboy] 19/4/2017 13:21

Mind you, it is Duncan, nothing should be ruled out.

Surprised that we've not had any RNS's on the buyback programme (prior to this annoucmement) - I thought it had recommenced but wasn't sure.

[frazboy] 19/4/2017 13:08

"They've probably just invented the story to get the price up"

but why would he? It's not like he can sell at the moment (presumably a closed period?), the only reason I can think that we would want the price up, is if he borrowing against his stock.

[tiswas] 19/4/2017 13:05

I must admit that I topped up my small holding last week in the hope that this would happen.

The funding of $94m they say is needed to take ARL to high volume production was clearly going to prohibit them being involved themselves. So it was just a case of how good a potential it really has and what it is worth to someone now.Maybe a sale and some sort of royalties arrangement?

I would be disappointed if WGP were to go at this stage in the cycle but of course it all depends on price.

[basem1] 19/4/2017 13:05

They've probably just invented this story to get the price up. DS has tried everything else and has major skin in the game.

[kooba] 19/4/2017 12:58

Not easy buying them...Don't think he would be looking at a disposal unless there was a significant premium to book value to be achieved...Since book of group is over 100p we could end up with cash and liquid assets reasonably over that level if a deal progresses imho.Also think the flying nodes robotics arm is worth several M in the right hands...which would be a larger oil services group ...same as WGP.Fingers crossed should be significantly enhancing to group valuation.

[bookbroker] 19/4/2017 12:32

The robotics arm is worth far in excess of $0m., they have already spent a good deal developing it, there is interest in the product, it simply requires a good deal more to take it ahead! A larger service co. Would be better suited to doing that!

[frazboy] 19/4/2017 12:28

You have to read in from that announcement (as there was no mention of this last week) that DS expected a rise in the share price on the back of last weeks results.

So, lets speculate about a price, $0m for the robotics arm, and say $10m -$15m for WGP? (based on ongoing profits of $2m)? You could value WGP at turnover which gives a similar result.

[bookbroker] 19/4/2017 12:19

Well, if he can get a price that reflects the value of Thal, and well in excess of current market value I'd be happy, frankly this company needs to be cashed in and returned to shareholders!

[jmf69] 19/4/2017 12:10

All comes down to price imo

[greenroom78] 19/4/2017 12:08

They should think about a Duncan disposal instead of selling the crown jewels.

[100egs] 19/4/2017 12:05

very interesting news today , thoughts anyone ?

[kooba] 18/4/2017 12:12

Wouldn't be surprised if its going to be used as a shell...so not sure you look at it as a tired old gold explorer maybe going to buying something bit more lively in due course.Certainly not against a punt in gold miners ...been picking one up today but early stage exploration in tricky parts of the world an expense hit and miss business that is rather an expensive gamble.imho holder thal and v small Papua .

[jmf69] 18/4/2017 12:05

Up 19% today

[kooba] 18/4/2017 11:35

Papua well up ...20% up on purchase (in £) go D S :)

[rbonnier] 12/4/2017 19:40

Wouldn't bother buying in here far too risky better off down at the casino seems like more chance of a return than this moth ball ! Papua mining and the reit....lol!!!!!