Thalassa Share Discussion Threads

[kooba] 17/12/2021 09:27

Positive this has been closed and looks to be a decent valuation uplift ( backed by third party placing) on carry value..up to 15c a share. Last reported Nav at interims.Reported Book value per share*(2) $1.84/GBP1.33 vs. $1.85/GBP1.50 Looks to be trading over 50% discount to assets ..rather off the radar I guess.

[kooba] 28/10/2021 20:27

https://www.janbelco.nl/Interesting set up taken an interest

[tiswas] 06/9/2021 11:41

Yawn! Will we ever see the dream realised?

[kooba] 28/7/2021 21:08

Thanks hadn't seen that ..this i would have presumed would have qualified for an announcement from Thalassa as it is all connected parties involved and the acquisition and interest in the Swiss Fintech has warranted previous rns announcements when they simply win awards. Reversing the interest into a vehicle controlled by the Exec Chair obviously doesn't though! Strange. Seems all just paper transactions in valuing this company and precious little real money. Would be good to see some external investment supporting such a transaction and valuation otherwise it's a all a bit confetti like with these shell deals.

[tanneg] 28/7/2021 17:29

Might be something to do with this - all very Thalassa like!!



16/12/19 - The board of Thalassa is delighted to announce, in line with its stated investment policy, the completion of the acquisition for up to a maximum of CHF 7 million ($7.1 million) of 100% of the issued share capital of id4 A.G., via Thalassa's wholly owned Swiss subsidiary, Apeiron Holdings A.G.

21/10/20 - 93.4% divestment of the holding in Anemoi International

28/7/21 - The Board of Anemoi are pleased to announce that the Company has signed non-legally binding heads of terms with the shareholders of id4 AG which set out the key terms for the proposed acquisition of the entire issued share capital of id4. Although the consideration payable by Anemoi for the Acquisition has not yet been determined, it is anticipated that it will be satisfied entirely by the issue of new Anemoi shares to the shareholders of id4.

[kooba] 28/7/2021 15:59

Biggest volume day for 3 months on what is often a very quiet counter....is something afoot?They have gathered some interesting assets maybe it's time for some revaluation or realisation with a transaction or two in the offing ?Huge discount to book seems unwarranted , this is seriously off the radar.

[kooba] 29/4/2021 07:16

Of all the Thalassa interests the flying node business is the one most difficult to value and see moving forward , this project and support of two energy businesses though relatively small numbers is great validation of the technology and that the company has something of value. Might be slow to build applications and adoption but could be a hidden gem in the portfolio in a few years.

[kooba] 09/4/2021 13:45

Recently topped up a largish holding..its value in my opinion but no idea when the rest of the investing community will catch on to it. Good luck.

[catswhiskas] 09/4/2021 13:16

Many Thanks Kooba was wondering if to buy in here .

[kooba] 09/4/2021 10:47

Finals due shortly ..normally released historically in march but like other companies were delayed last year and came out in june. No date announced for this year but will be interesting read as always!

[kooba] 09/4/2021 10:44

Interims announced sept 2020"Net assets at 30 June 2020 amounted to $25.9m (1H19: $27.5m) resulting in net assets per share of $1.85/GBP1.50 based on 14,013,017 shares in issue versus $1.60/GBP1.26 in 1H19 (based on 17,175,275 shares in issue)."Now there is some water under the bridge since then with distributions and share consolidation but all in all that is still the right historic level 150p per share.There has been some share buybacks and investments made since then which may have enhanced that number..or there could have been market positions gone the wrong way.But i suspect that that number is a minimum current NAV per share so likely 60% discount to NAV.Holding cash and some very interesting fintech, life sciences investments..think it is well off the radar but wouldn't take much to get this noticed and rerated imho.

[catswhiskas] 09/4/2021 09:58

Hi what is the NAV per share for THAL what discount is it trading at ?
Thanks

[kooba] 06/4/2021 16:32

Cornerstone FS an Alternative payments and FX platform that Thalassa has an investment in listed today.Raised money at premium to Thalassa investment looks interesting in a growing but competitive sector.

[gfrae] 02/2/2021 09:40

A good summary Mr kooba !
It is much easier to hang around and await developments while the shares are sitting at such a large discount to NAV.

[kooba] 02/2/2021 09:39

https://www.londonmedicallaboratory.co.uk/Also offering private Covid testing to corporates and individuals.

[kooba] 02/2/2021 08:42

Another very interesting transaction in another hot area with clear short term IPO intent. I am rightly or wrongly looking at Thalassa now as a boutique investment bank. They are cherry picking high growth areas , FinTech , Medical ,Ticketing and probably a few other areas where there is bounce back opportunities such as travel and tourism. There are also the spin out vehicles where I believe Thalassa still has warrant interest. Undoubtedly building an interesting portfolio of assets but still looks somewhat random looking at rns's in isolation ,but if one looks at it as an opportunistic fast moving investor adding value to situations then makes more sense.Be good to have clear mission statement from the company so the visibility on how they see the company growing and creating value and perhaps how investments are valued might help . In the meantime trading at a huge discount to book and to me it looks like a question of time before this is discovered..in the meantime picking bits up as and when like yesterday.

[cockerhoop] 29/1/2021 11:45

Missed it? It does appear to have reduced the spread to just below 100% though :-)

[tiswas] 29/1/2021 11:04

Surprised that no one here has commented on the Anemoi activity a few days back.

[kooba] 03/12/2020 17:57

The THAL Discretionary Trust is a trust, independent of Thalassa, established for the benefit of individuals or parties to whom the Trustees wish to make awards at their discretionMaybe should be awarded to shareholders for long service??

[kooba] 03/12/2020 17:56

Must ask when your biggest institutional holder wants out at a huge discount to book and even cash whether you are doing things that shareholders can get behind I guess ...knowing DS he will hopefully take up the challenge and show shareholders he can get the share price to better reflect the value and prospects of the company. Be nice..but lack of any transparency in where the company is headed and various random moves make this unlikely in the near termHaving bought shares from one shareholder at 65p though they should be bid at that level in the market for all shareholders I guess.

[kooba] 03/12/2020 17:48

From the report and accountsThe THAL Discretionary Trust is a trust, independent of Thalassa, established for the benefit of individuals or parties to whom the Trustees wish to make awards at their discretionIt also owes Thalassa £1.7m at the time paying interest at 3%.DS wife seems to be a trustee.Since the holding in the trust seems far too large for the purpose of dishing out awards as incentives ..not sure why they don't wind a chunk up at 65p value cancelling the debt..Further asset accretive to shareholders..can't see lending shareholder funds at 3% makes any sense.But nor does the cost base relative to the market cap!Difficult to see where this is all going at the moment.

[kooba] 03/12/2020 17:33

Don't think DS has gone over 30%..very close.As to whether a share buyback triggers the over 30% rule I am also not so sure.The THAL Disc trust plus DS have been over 30% for ages so are not counted as acting in concert or they have dispensation.As to whether the THAL trust can vote I'm not sure but expect not as they are governed by the board.Not sure who the beneficiary is either , not sure what employees the company has left ...seems to be just DS!!

[tiswas] 03/12/2020 16:34

No, I am not looking for a bid either. Just worried that with DC holding and the Trust, if that holding can be voted, it may be forced on us.

You say no bid necessary, can you expand?

[cockerhoop] 03/12/2020 16:07

Tiswas,

I was pondering that but seem to recall if the 30% level is triggered by buybacks, corporate events etc the holder can get dispensation but that is kinda muddied by DS being the exec causing the event!