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THAL Thalassa Holdings Limited

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 4426 to 4445 of 4475 messages
Chat Pages: 179  178  177  176  175  174  173  172  171  170  169  168  Older
Thank you very much for posting the link to the announcement, which I had missed, about the investment in LML not proceeding.
I agree with all you say but fear that THAL may be exposed to large losses on its open short positions as a result of the recent recovery in world stock markets. Mr Soukup's recent pronouncements suggested that THAL had made money on its "hedging operations" earlier in 2022 and that he had re-opened these.
As you say, we can only form a vague idea as to the value of THAL's assets.
Like you I would regard a liquidation worth 60p per share as a very welcome outcome.

"In early November 2022, Thalassa was notified by a director of Tappit that the company was arranging a funding facility. The Chairman of Thalassa was a lender under the funding facility but has since been repaid."In November the CFO of Tappit was setting up the vehicle that did the back to back administration purchase joining the board of the vehicle early Dec.This does not help the overall look of what was known before the administration. Why was the Chair lending money to a company that was a principal investment of did they get their money out so soon to a total write off to Thalassa? Presume a month before but could be closer? Not enough detail on a connected party transaction.
I repeat i think the fair and sensible outcome is that Mr Soukup does the decent thing and buys out minorities at a sensible level relative the the board approved balance of nav which is around £1 post Tappit write off rather than putting more assets in plugging a hole and continuing to pretend this is working for anyone. I think current assets are below historic values so likely lower than the figure in the market..could be more like 70-80p ..but an offer of 60p i would be delighted to accept and jump.Noting the Tappit write off announcement i note Mr Soukup put his personal money into Tappit shortly before they called in the administrator but got his money back. This is a connected party transaction and surely shows he was aware of the company's financial position in the months ahead of failure? But still held the investment at over the capital invested.
13:04 some time on this then they were unable to proceed for some unexplained reason.
Thank you , Kooba.
Are you saying that THAL never proceeded with the investment in London Medical Labs or that it did and that there was no subsequent issue of capital by LML ?
I agree with you heartily that this is not a successful company.
It did succeed some years ago in selling a business for a handsome sum of money but has squandered the proceeds.
The report and accounts are indeed rich in pontification but short in detail of THAL's assets. A small comfort to be derived from the Tappit fiasco is that Mr. Soukup may now perceive his limitations.

Having spent the last hour trawling through THAL's announcements since July 2019, I remain in a muddle as to what they still own.
The transactions between Anemoi, Apeiron and id4 are certainly convoluted.
In Feb 2021 THAL advanced £2.5 million to London Medical Laboratories and undertook to take part in a subsequent issue of capital. We have heard nothing recently about this.
After the Tappit disaster we must hope that Mr Soukup will fasten down the hatches as another shock might be fatal.
I now regard my recent small investment here as no more secure than money placed on a horse!


i fully agree with you - this will not be a straight forward cash compensation. soukup will claim an option to buy something off him is worth £Xm - or similar.

A very thin market; I have bought a few shares at about 30p which may prove unwise.
Looking back through my records, I see that I was buying THAL shares at 86p in May 2018 and selling them at 80p in March and April 2019. I sold my last at 62p in Jan 2020.
Not brilliant but I have had the good luck to be out of this share for 3 years.
One simple means by which Mr Soukup could compensate THAL for its losses on Tappit would be to buy the holding off THAL for the price paid. I fear that the solution chosen is likely to be more complicated but wait with interest to see what it is.


I believe u r spot on. Soukup is not going to put cash in, but probably shares in Alina or similar……;……but as you say, why does he not just make an offer for the company to allow us all to forget about this fiasco of his? My guess is 35-40p would do it.

...contribute assets or rights in the amount of Thalassa's initial investment of GBP3m (equivalent to 38p/shr).Not talking straight may be that a board would refuse such a transaction anyway.Since he owns a slug and controls the Thalassa discretionary trust that owns another slug. Why not just make an offer to minority shareholders to take it over. It is run as a private business and has proved a very poor and opaque investment. Why not offer minority shareholders 60p and remove the embarrassment. That is still at a discount to the stated NAV even after this disaster but might give everyone a face saving way out. I doubt many would refuse.
Yes you have to give it to Duncan if he pumps £3m in to Thal for making a huge investment mistake.Let's see the detail. The only way to do this I think would be for him to subscribe to 1 share at a huge premium.
This is so very rare : an admission by a managing director that he made a mistake in arranging for his company to invest £3 million in a dud and an offer to put this money back into the company out of his own pocket.
I have not been a shareholder for some time but feel tempted to re-enter the pool.

Well, you have to admit DS is different!

PS Out of here a long way back but pop in now and again to be bemused by all the goings on.

A good short. A one person story that the market dislikes hence the share price fall
I can see this delisting with nothing for independent shareholders

Stock trading at an 85% discount to stated book value. If there was any material change in the company's financial position they would have to inform the market. Appears the "floated" off companies are also enjoying the same market support both trading at all time lows. Either these companies are cheap or they are in far worse shape than the historic basis of valuation. Since the company has not commented on trading since last august it is difficult to know..certainly the share price is telling a dire story and the company make no comment.
..only when the tide goes out do you discover who's been swimming naked.23.00 GBX -42.50 (-64.89%)year to date23.00 GBX -66.30 (-74.24%)past 5 yearsNet assets end June '22 £11.9m or 150p per share£800,000 net cash.Market cap at the close £1.83M.Market cap less cash £1M So a recently reported director approved valuation of assets less cash of £11M currently being valued by the market at effectively £1M ..over a 90% discount.The company says they have effective hedges in place against market declines only 2 months ago.There has been a precipitous fall this year accelerating post the interims in August and are now trading at an extremely distressed valuation if the recent valuation and update are to be believed. There has been no comment by the company as to any change in the trading conditions since the last update or the valuation of the assets since that update..any material change would have to be reported to the market.So anomaly or extremely poor investments as the market valuation seems to point to?Who knows its very opaque in terms of the loans outstanding and the valuation of the node business that has been funded solely by the company for donkeys years but some clarity on the current share price action whether it is prompted by a change in the company's financial position might just be the minimum shareholders should expect from the management.Monday 15 August, 2022Thalassa Holdings LtdInterim Results• Profit /(loss) after tax for the year £0.20m vs. (£0.81)• Group Earnings Per Share (basic and diluted)*1 £0.03 vs. (£0.10)• Book value per share*2 £1.50 vs. £0.82• Holdings £10.1m vs. £7.9m• of which Unlisted holdings £6.4m vs. £6.1m• of which Listed holdings £2.5m vs. £0.3m• of which Hedges £1.2m vs. £1.5mChairman's Statement Trading updateThe Company's hedging strategy has served THAL shareholders well during the first half of the year and whilst our long-quoted-holdings suffered, in some cases substantial declines, these were largely offset by gains in our hedge positions. We covered most hedge positions shortly before the mid-June market bottom and subsequent rally, but have since repositioned, and increased our hedge exposure, after what we perceive to have been a 'dead cat' bounce.
There are currently 7.9m outstanding shares , there is a large holding in Treasury from previous share buybacks purchased higher up. So market cap is now sub £3m .We are told book value (NAV) is 150p per share which means the shares trade at a 75% discount to assets.
About time this was liquidated in the interests of all shareholders if that value is at all realistic so there can finally be a return to shareholders reflecting patience and the apparent underlying value otherwise it just seems to trade at ever larger discounts to stated value with no opportunity of exit anywhere near underlying value.
Currently there is no strategy on maximising value to shareholders or addressing the massive discount to assets that it trades at which would be a very normal statement for companies in this situation to make.The company just has a few random holdings and loans outstanding with no apparent strategy which therefore results in an exceptionally poor share rating that must reflect the markets view on the assets and the management i guess. Be rather nice if the management actually aligned itself with its shareholders and came up with a plan to realise the value they say is there because this is obviously not a story that is believed capable of actually delivering any value to its shareholders and is valued as an extreme “value trap”.The shares have been listed for many years and I believe are trading at historic lows.
Focus should be on delivering genuine value to it’s own shareholders not just quoting Warren Buffett who has for his for many many years.
The company has the lowest cash position for many years..not exactly best placed for the foreseen storm to be honest! Averaged again today mostly because i am sitting on cash, can only hope remaining faith is not misplaced.

An interesting company.
Mr Soukup's claim that his prescience about the stock market falls has served shareholders well is certainly not borne out by the price of THAL shares.
We are told that there were about 7.9 million shares outstanding at 30 June 2022 but, at the end of this RNS, that there were c 20.8 million ord shares of US$0.01 allotted, issued and fully paid.
Which figure is right ?

Bold call:

"Macro Outlook

Your Board is of the opinion that the Market's recent rally is unsustainable, and take the view that there is another leg down in US and EU (incl. UK) stock prices, which will be driven by earnings' misses and subsequent reduction in overly optimistic earnings estimates for 2022, 2023 and 2024.

Analysts surveyed by Bloomberg are still estimating that S&P 500 earnings will increase from current level of

199.67 to 235.78, an increase of 18.08%, in 2022, by +5.22% in 2023, and by +9.02% in 2024. Given the fact that inflation is currently running at record levels, and our view that Central Bankers could well tighten too much, just as Western economies grind to a standstill, we believe that analysts will rapidly start to reduce their 2022 Q3 and Q4, as well as 2023 and 2024 earnings estimates when they get back from their summer holidays."

Ya don't often hear such bold calls in reports I tells thee.

The US has had a 50% retracement so it will be interesting to see if they can continue this rally. The move looks too bullish, as if to say nothing will now go wrong. I'm sat here thinking Apple will warn (is the consumer in the UK and Europe going to hold up in buying a new premium priced phone or other tech?) and it's on a tear so I must be too bearish. Clearly the US is in a better position because of the energy situation but still...

Are they too bullish and need some consolidation over there?

Over here in the UK, it continues to be glum. We might end up being be more realistic in the ratings of shares until this all washes through and better times come.

All imo

That is the question..there has been a very active period with a number of complicated transactions that are somewhat difficult to follow.there has been some value creation some of that through share repurchases. But the discount to NAV is striking and its difficult to see how that narrows or where the company goes from here as you can't issue shares at such a discount.A clear strategy of how shareholder value is to be realised would be helpful.
Chat Pages: 179  178  177  176  175  174  173  172  171  170  169  168  Older

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