Thalassa Share Discussion Threads

[jmf69] 02/4/2018 18:17

....As previously announced, the Board expects that the proposed investment by FFN in Autonomous Robotics Ltd will be concluded by no later than 31 March 2018....

[jmf69] 23/3/2018 13:33

Buyback continues

[jmf69] 14/3/2018 19:27

LSR seems to be making good progress

[tiswas] 08/3/2018 10:41

You can buy at 83p this morning and nav is reckoned at £1.37 with 30p+ contingent proceeds on top.

hxxps://www.investorschampion.com/channel/blog/thalassa-sale-of-main-business-brings-nice-cash-pile-but-what-value-the-res

Soukup holds 17% so aligned with shareholders. Ok, it depends on them finding the right acquisition at the right price but seems very cheap to me.

[jmf69] 28/2/2018 21:14

Need news about the plan for the wgp funds

[tiswas] 28/2/2018 09:35

Silly cheap now, topped up this morning.

[kooba] 05/1/2018 11:07

Should now be viewed as investment holding company as they will have little in way on ongoing business in terms of turnover in current form.

[kooba] 05/1/2018 11:05

Significant assets on top of cash holdings of 76ppsThey have 80% holding in Autonomous Robotics where FFN recently purchased 20% interest for $2m... giving their post raise holding $8m value.Close to £6m. =30p ppsThey have 20.8m shares in LSR At market 31p -£6.45m though LSR nav 42p and are currently liquidating their property assets...if the LSR management do a decent job should get at least 37-38p distribution later this year so hopefully will achieve £7.8m which would be close to 40pps.They also have conditional earn out on WGP disposal as mentioned.

[basem1] 05/1/2018 10:36

Guys, what are THAL left with in terms of there current business. Turnover/profits etc ??

[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.