Thalassa Share Discussion Threads

[jmf69] 14/9/2017 07:04

They've been upping their stake in LSR. Over 25% now

[jmf69] 05/9/2017 13:47

LOAM now have 13.1 %

[jmf69] 25/8/2017 06:27

Picked up the buyback pace with 375k yesterday

[jmf69] 22/8/2017 06:31

Cleared with the clients and the potential purchaser named

[jmf69] 17/8/2017 06:32

Another 187500 bought back. The board must still see value at this price

[deej4y] 16/8/2017 09:44

Basically creates a floor on the price for now

[jmf69] 16/8/2017 06:28

And the buyback restarts with 200k

[jmf69] 15/8/2017 17:58

LOAM increased to 11.30 %

[deej4y] 15/8/2017 10:53

There's also 3.5m shares in treasury, which DS has previously used to raise funds.

I think average purchase price is £0.45

[cockerhoop] 15/8/2017 10:51

A sizeable return to shareholders after receipt of the initial 20m USD would lead to further upside imo.

[cockerhoop] 15/8/2017 10:48

Stemis,I think you can make the case that ARL could be valued at greater than 10m USD as the investee company is also bringing considerable relevant expertise along with 2m USD.As for the general valuation there is clearly a DS discount being applied.

[frazboy] 15/8/2017 10:43

SteMiS - I think the issue is that you can't value the assets at 100p in the £ as DS has not said what he would do with the proceeds if the sale went through. Not many investment holding companies trade at a premium to asset value.

[stemis] 15/8/2017 10:32

Crazy valuation - Thalassa market cap at 84p is $23.6m

For which you get

$20.0m sales proceeds of WGP, less say $1m for fees
$2.0m investment in ARL
$3.0m (at least) existing cash, assuming WGP sold cash free
$8.1m stake in LSR

$10.0m earn out on WGP
$8.0m value of ARL (valued on $2m investment for 20%)
Something for Papua

So from $32.0m (discounting all earn out, ARL and Papua) to potentially $50m

[janeann] 15/8/2017 08:45

I hope not PJ. acso perhaps. Im surprised the reaction hasn't been stronger this morning;

[colin12345678] 15/8/2017 08:20

Shakles off....don't forget this is a Wood Group(WGP) subsidiary sale..huge multi national company not tin pot asset sale

[pj 1] 15/8/2017 08:12

Maybe DS will 'invest' it in TCM?

[janeann] 15/8/2017 07:58

yes interesting point - what will they do with the cash. another reit perhaps?

[pugugly] 15/8/2017 07:46

frazboy: Thanks - you are right - just tryuing to get a worst case scenario - Much could go wrong in negotiations - though DS is a skilled negotiator - so trying to quantify risk/reward at this level.

[frazboy] 15/8/2017 07:42

Sorry Pug, can't help you with you one, I think it would be difficult for a broker to give you targets, in light of the offer, and what the plan is to do with the cash. I guess it would give you a downside valuation (no deal), if that's what you're after tho.

[pugugly] 15/8/2017 07:34

Anyone got - or seen brokers note - on new target price ?

[frazboy] 15/8/2017 06:26

Surely the DD should be over and done with?

[jmf69] 15/8/2017 06:21

Wgp sale for up to $30m

[jmf69] 08/8/2017 19:44

News tomorrow?

[jmf69] 06/8/2017 14:45

Maybe a further update on the disposal this?