Thalassa Share Discussion Threads

[kooba] 05/1/2018 07:30

Sets the current position out clearly and reiterates why continuing the share buyback so value accretive.Be interesting to see what DS has in store going forward.There is of course'A further $10,000,000 will become payable by FFN contingent on certain customer contracts being entered into within 5 years of completion.'Which if satisfied in full would represent further 35p per share at current exchange rates and shares available.

[jmf69] 02/1/2018 07:48

Deal complete finally. Will there be a boost in the share price today towards NAV ?

[rivaldo] 06/12/2017 11:47

Useful summary of the NAV on Investors' Champion:



They have a post-completion NAV of 144p per share as follows:

" Post completion net asset value (“NAV”)

Following completion, management provided estimates that Thalassa’s NAV per share will be c.$1.91/£1.44, made up as follows:

Net cash US$21.3m
Holding in The Local Shopping REIT PLC US$9.3m (at cost)
ARL (based upon the proposed FFN investment of $2m for 20%) US$8.0m
Other US$0.7m

Total US$39.3m"

They also have a slightly more prudent estimate of 137p per share essentially writing down ARL somewhat.

These figures also ignore the potential $10m contingent consideration, which would add another 36p or so per share, taking total NAV to around 180p per share.

[jmf69] 04/12/2017 07:49

Nice to see the buyback continuing with the latest 200k plus shares bought at 105.

[gfrae] 01/12/2017 14:56

I agree Horndean some sort of tender offer would be a good idea for those prepared to sell at discount to cash.

[horndean eagle] 01/12/2017 13:53

They should really offer a tender of sorts. Duncan is a bit of a maverick but isn't an idiot. If he was left in charge of finding something new I think he can be trusted. Although wtf was he doing with LSR!

[frazboy] 01/12/2017 12:46

Do IT usually trade at a zero discount to net assets?

[tanneg] 01/12/2017 12:34

Surely up with events would mean share price nearer to NAV of £1.44?

[jmf69] 01/12/2017 09:51

With the exception of the existing buyback program

[frazboy] 01/12/2017 09:45

Share price looks to be up with events, no plans to return cash to shareholders

[janeann] 01/12/2017 08:21

Well it looks decent sale price - amazed the market has reacted much more positively.

[stemis] 29/11/2017 08:47

Let's hope that improved sentiment in the sector feeds through to WGP profits as the $10m performance based earn out would be worth 37p a share alone to THAL shareholders...

[rivaldo] 28/11/2017 15:55

Hi SteMis, I'm sure you're right, though the more positive sector sentiment should help the transactions to proceed nice and smoothly.

[jmf69] 28/11/2017 12:20

Chart says next stop is 140

[jmf69] 28/11/2017 09:29

The Board anticipates exchange of contracts by the end of November, followed by a general meeting to approve the transaction mid December 2017 with a targeted completion before the year-end 2017.

[jmf69] 28/11/2017 07:19

Assuming that the sale goes through, any idea of target sp?

[stemis] 27/11/2017 22:34

Yes, I know. I was talking to Rivaldo really...

[jmf69] 27/11/2017 22:27

I was referring to the sale

[stemis] 27/11/2017 22:14

I think this is more about the impending sale than oil sector sentiment. Hopefully the rise is an indication that the sale is proceeding smoothly.

[jmf69] 27/11/2017 17:12

Steady rise. Should be some news soon

[rivaldo] 24/11/2017 13:45

Good to see THAL consolidating above 100p now. T'would be nice to see THAL's sector companion NTQ similarly rise given the improved oil sector conditions.

[cockerhoop] 25/10/2017 10:42

It doesn't worry me particularly.........DS already manages like he owns over 50%!!!!

The on-off nature of the buyback does lend a chaotic feel though.

In fact I would have preferred him to buy at the discount available here rather than chasing the rather narrower discounts to NAV at LSR.

[gfrae] 25/10/2017 10:08

Of course, these buy backs will increase DS's %age holding which may worry some.

[camerongd53] 25/10/2017 08:08

DS may be planning a new venture and the question is whether he will do it through Thalassa. Keeping things liquid and buybacks could indicate with Thalassa that a return of capital and/or liquidation is planned.
It is foolhardy to squander resources on a buyback and then have to borrow for a business.
DS may be a maverick but I don't think he is completely stupid.
Time will tell

[cockerhoop] 25/10/2017 08:07

......Good point, well made :-)