Thalassa Share Discussion Threads

[alter ego] 09/10/2018 09:15

I've had enough of Duncan's manoeuvrings. Im out. Good luck to anyone still holding.

[mjcrockett] 04/10/2018 13:38

Good point gfrae. You can see these preference shares causing problems in a nominee account. I wonder if some brokers might refuse to hold the preference shares as I doubt that their systems would cope with reducing the preference shares when the ordinary shares are sold.

[gfrae] 04/10/2018 11:03

Strange that this change has been made retrospectively,and with no vote. It would appear that this move makes the company very difficult to be taken over, and therefore affects the value of the ordinary shares.
What would happen if a current shareholder changes broker and his shareholding was moved from nominee account to another,would he retain his preference shares ?

[alter ego] 04/10/2018 09:48

Totally agree. Prefs are worthless to anyone except someone who holds enough to control the company. No prizes for guessing who that is.

[sailing john] 04/10/2018 09:48

I agree Horndean. I haven't held for many years but still follow out of interest. I'm surprised that Directors are able to alter the Articles of Association in this way without a GM and shareholder vote. Of course most PIs often find it difficult to exercise their rights to vote anyway and this will just add another layer of difficulty. So what will he use his new voting power for!?
Watch this space!

[horndean eagle] 04/10/2018 09:17

Looks like a shocking proposal by Duncan to effectively get control for life over THAL. The way I read it is he wants to issue preference shares with 10 times voting power but those preference shares only exist whilst you hold the ords. Once you have sold them they are effectively cancelled. Given Duncan is unlikely to sell any it means he will over time have effective voting control over the company. Can't see how in any form he is going to get this over the line. One of the worst pieces of corporate governance I have ever seen. Its definitely going to kick off soon between the other large shareholders and Duncan.

[varies] 17/9/2018 18:29

Like others I am puzzled by the statement that pref shares will be issued to all shareholders of record at 30 Sep 2018 with no further detail provided. I don't see what the point would be of issuing us with pref shares rather than cash. It may be that we will receive neither.
Mr Soukup seems determined to extract every penny from LSR, no matter how long this takes. It would surely be better to strike a compromise with its management, take a reasonable price and move on. Values of retail properties have sunk over the last few years and this is no fault of the LSR directors.
There is at least some movement towards attracting new capital for the flying nodes.

[ramridge] 17/9/2018 12:45

The Chairman is both didactic and bombastic in his statement. He gives us a tour of the major economic ups and down from the era of JFK to the 1970's and Nixon's impeachment. I think a lot of commentators would disagree with his bird's eye view.
Never mind that. What is interesting is his comment :
"
Do I think we are headed for the same brick wall? No, it will be a different wall but the result will be the same, if not worse this time. Why? Because this time institutional and retail investors are in love with growth companies with no earnings or an infinite p/e ratio. At least the Nifty Fifty had earnings and at the peak their p/e was a meagre 42x earnings!"


So he thinks that another Armageddon is round the corner. Fair enough. You would then think he will advocate failsafe, solid risk averse investments, even a partial return of cash. Not at all! The kind of investments he has in mind range from risky to very risky!

[cockerhoop] 17/9/2018 09:19

It's almost like a 2nd RNS got lost in the post!!

[eezymunny] 17/9/2018 08:47

To mention the prefs and then give no deal whatsoever actually defies belief IMO!

[eentweedrie] 17/9/2018 07:40

interesting comments from the chairman!

[alter ego] 16/8/2018 16:10

interesting changes at the top of ARL.

[tiswas] 16/8/2018 16:00

Bought a few more, still look cheap.

[mr macgregor] 04/8/2018 19:09

I don't see Thalassa being able to commercialise the flying nodes on its own. I remember how enthusiastic Duncan was about FFNs proposed tie up with ARL as they were bringing experience and knowledge. As FFN pulled the plug on that idea, presumably after due diligence, Thalassa are left with an expensive loss making baby with no income to fund it and that puts them in a difficult position which will become more so as the cash pile leaks away. Potential suitors will be well aware of that.
I question the wisdom of the WGP sale without a guaranteed investment in ARL. If they'd kept WGP as we're moving into an oil upturn they'd have had a stronger hand to play imo.

[ntv] 25/7/2018 16:45

finished selling today
lsr was a poor investment
DD was also poor to buy the stake in the first place
luckily pushed up another 6p so out with a small profit
GLH

[ntv] 17/7/2018 07:36

buyback price is slowly creeping up

[cockerhoop] 12/7/2018 08:55

Bearing in mind loads of value has been outed on the Aim market since DS paid over the odds for his stake in LSR I'd take his analysis of 'every company on Aim' with a pinch of salt.

I suppose the elephant in the room is how much of the cash will be invested in ARL (or mitigated with additional external investment)?

[ntv] 12/7/2018 07:09

when lsr returns some cash this could end being a very large cash shell
interesting that he has looked at all the companies on the aim and sees no value
my guess is even if he did i hardly think he would put it in print
mind you even if there is value a bid would have to come at a premium so hence some of the value is lost

[ntv] 12/7/2018 07:05

they paid 89p for the latest buyback

[ntv] 11/7/2018 13:13

thats a bit annoying as i sold a few this morning almost giving up for any news
luckily i added to my holding in PNS so just about makes up for it

[alter ego] 11/7/2018 12:05

....following an award of a data acquisition contract to WGP, THAL will be due, upon execution of contracts relating to the award, an initial $6m (of the potential $10m) earn out.

rns just out

[ntv] 22/6/2018 08:36

to be fair i struggled a bit to get my head around what is included and what seems to be pending value
but pending is not value til the cash comes in. At least the cash is not being squandered so that is one good thing but LSR was is not a good investment
if he wanted property he should have bought into panther when south of 3.30 but then that is only my view lol

[horndean eagle] 22/6/2018 08:21

Looks like they were fiddling around with results as they were not sure how to book WGP deferred and value of ARL. Both seem to be excluded from book value so NAV could be a fair bit higher in due course.