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THAL Thalassa Holdings Limited

26.50
0.00 (0.00%)
24 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Thalassa Holdings Limited LSE:THAL London Ordinary Share VGG878801114 ORD SHS USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 26.50 25.00 28.00 26.50 26.50 26.50 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec 252k -892k -0.1123 -2.36 2.11M
Thalassa Holdings Limited is listed in the Oil & Gas Field Services sector of the London Stock Exchange with ticker THAL. The last closing price for Thalassa was 26.50p. Over the last year, Thalassa shares have traded in a share price range of 22.20p to 28.50p.

Thalassa currently has 7,945,838 shares in issue. The market capitalisation of Thalassa is £2.11 million. Thalassa has a price to earnings ratio (PE ratio) of -2.36.

Thalassa Share Discussion Threads

Showing 4226 to 4246 of 4475 messages
Chat Pages: 179  178  177  176  175  174  173  172  171  170  169  168  Older
DateSubjectAuthorDiscuss
10/1/2019
08:51
Thalassa Chairman takes on two sets of shareholders.
rndm355
09/1/2019
09:28
nobody would went the valueless ordinary shares as they have virtually no value to an new shareholder so it will be a low offer to try and grab some stock to try to get to 50%
ntv
06/1/2019
18:24
Crumbs, thanks GWR7! Worth sharing on the LSR thread too if you wish.
andyr0503
06/1/2019
18:11
Good post. Yes, this company is a disgrace.
topvest
06/1/2019
15:24
I'm following this with interest. Here's a post from over four years ago.

GWR7 - 17 Sep 2014 - 09:12:11 - 2801 of 4217

From a corporate governance viewpoint I regard this as completely uninvestable. As has been pointed out, Thalassa is lending money to a Thalassa trust to buy shares in Thalassa. This seems reminiscent of the activities of Enron. The trust is supposedly a beneficial trust for employees of the company but it is under water, largely due to the purchase of 1 million shares from chairman Soukup at the startling price of £2.70 (using a loan from the company). This was a beneficial exit for Soukup, who is a trustee (lol) but not so good for thin cat employees and shareholders.
The thing is, the trust has racked up over $7m of loans from the company. As it is under water on the shares it has bought it has no means of paying back these loans so by rights you would think they ought to be impaired. Given also that Thalassa pays a company in which Soukup has an interest over 400k a year on consultancy fees I can see why it's registered in the British Virgin Islands.
Barge pole job for me.

gwr7
28/12/2018
11:09
Could well be, frazboy,
It is a mystery to me.

gfrae
27/12/2018
13:43
I meant to add, that volume on Thalassa has been pretty modest since the preference shares were issued
frazboy
27/12/2018
13:38
Absolutely gfrae. I wonder if the reason DS has gone for the main market listing, is, despite his best efforts with the preference shares, he still won't be able to swing a shareholder vote to buy LSR on the terms he's planning
frazboy
27/12/2018
12:52
I suspect the company would be delighted to buy all shares offered to them at these prices.
gfrae
27/12/2018
12:37
Yes, agreed - that would be amusing. This company is pure GREED.
topvest
23/12/2018
13:10
amyone know a spread bet firm that you can short these with?
ntv
23/12/2018
13:08
topvest
agreed and which LSR shareholders really want worthless THAL ordinaries(they won't get Peference shares)
my guess an all share offer
from memory the prefs have 10 times voting powers
Preference shares get first claim on assets as well if liquidated
WAFJ the AIM FSA london stock exchange are
How many other directors will run off with a couple of mates with all the cash in due course
wonder what the rumuneration package will be this year

ntv
22/12/2018
15:09
This is what was said in September: really no need to try and work out.

"LSR

Thalassa currently owns 25.48% of The Local Shopping REIT plc ("LSR"). The liquidation of the company's assets continues apace; unfortunately, the losses incurred on disposal also continue apace. We are clearly unhappy with the level of cost that LSR and, therefore, its shareholders are incurring whilst its advisers, managers and consultants are rewarded for generating ever increasing losses!

THAL's 25% holding does, however, represent 'negative equity control', which, bluntly put means that LSR will be unable to distribute any cash to its shareholders beyond the sum of its retained earnings (currently GBP8.1m but dwindling fast) without an extraordinary resolution requiring 75% of the votes cast at the meeting. Clearly no such majority can be achieved without Thalassa's votes.

Thalassa accounts for its holding in LSR as an associate company. As a result, Thalassa's current holding cost basis is +/-29.6p per share, which does not reflect the +/-2.5p per share of Forex hedging gains that the Company has also realised and booked.

I believe that Thalassa shareholders will do well out of the Company's investment in LSR, in spite of LSR's woeful performance!"

Very clear:
1. Historical cost was 29.6p.
2. Clear undertaking of 'minority equity control' and likely blocking of any special resolution.
3. Conclusion that they will do well, and so the only way they will do well is if non-Thalassa shareholders of LSR get proportionately, a lot less.

topvest
22/12/2018
09:27
Frazboy - Yes, I was going on their press announcements. I do agree that DS paid early to mid 30s for his early holdings. I think the reconciliation between the two may be to do with exchange rate changes and hedging - that was all I could think of.
andyr0503
22/12/2018
09:02
Andy - by the way, you said THAL had made a profit on the LSR holding but if you go back to the original announcements regarding the purchases I think you’ll find DS paid early to mid 30s for his holdings. That is inconsistent with what is stated in the more recent Thalassa press announcements. Happy to be corrected on this.
frazboy
22/12/2018
07:35
Frazboy,Was just thinking aloud really - very interesting that a full listing gives additional flexibility in certain circumstances which goes against the general perception of AIM having virtually no regulation.Anyway good to bounce a few thoughts :-)
cockerhoop
21/12/2018
22:09
Or any future THAL M&A deal
cockerhoop
21/12/2018
22:01
A couple of interesting paragraphs in here:



He may actually be going for a main market listing to bypass having to get Thalassa shareholders to approve an LSR deal!

frazboy
21/12/2018
21:50
Apols - my mistake. Presumably that would make the LSR listing more valuable as a vehicle to back into? No effort has been made by DS to hoover up any loose LSR shares to get close to 30% - since the GM would seem to have been an ideal time.
cockerhoop
21/12/2018
21:04
Frazboy,Not quite sure which point I'm missing? Do you think #THAL want to utilise the LSR Aim listing?I've been highly critical of DS's various actions over the years but the fact #THAL has continued to buyback shares seemed to suggest he was not looking to de-list on the cheap but it was very hard to understand what his motives were with the preference share shenanigans. I know Graham Neary wasn't able to get satisfactory answers after contacting the company. If it was done to ensure there were less opposition to a full listing then I see that as a positive. A full listing should restrain DS somewhat.
cockerhoop
21/12/2018
17:25
Hi NTV - no, can’t get far on dividends due to lack of distributable reserves. Would require a capital reduction and special resolution / court approval. When I looked a few weeks back it looked tricky, as all routes seemed to need a special resolution. I’m not an expert on a Court process, but I would suspect a disputed case would be expensive. Thalassa can probably offer 30p+ given their enormous discount versus net assets. They seem to have the upper hand unfortunately. It’s very wrong.
topvest
Chat Pages: 179  178  177  176  175  174  173  172  171  170  169  168  Older

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