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THAL Thalassa Holdings Limited

26.00
0.00 (0.00%)
Last Updated: 08:00:00
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 Shares Traded Last Trade
  0.00 0.00% 26.00 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
25.00 27.00 26.00 26.00 26.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec 296k -1.45M -0.1825 -1.42 2.07M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 26.00 GBX

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Date Time Title Posts
01/5/202409:32THALASSA ENERGY, Oil Service Company.4,445
12/9/201312:32THALASSA ENERGY:13
06/8/200803:55Thalassa Energy Ltd.8

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Thalassa (THAL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-05-21 13:52:3625.204,8981,234.30O

Thalassa (THAL) Top Chat Posts

Top Posts
Posted at 22/5/2024 09:20 by Thalassa Daily Update
Thalassa Holdings Limited is listed in the Oil & Gas Field Services,nec sector of the London Stock Exchange with ticker THAL. The last closing price for Thalassa was 26p.
Thalassa currently has 7,945,838 shares in issue. The market capitalisation of Thalassa is £2,065,918.
Thalassa has a price to earnings ratio (PE ratio) of -1.42.
This morning THAL shares opened at 26p
Posted at 12/1/2024 10:49 by varies
Kooba,
"Clear as mud" is an apt description for Thalassa's accounts.
Do you have any insight into Flying Nodes ?
There is an imaginative video about these on the co's web-site based, I fear, on artists' impressions rather than physical objects.
THAL seems to have spent about £5 million on their development but has no orders yet !
Posted at 06/1/2024 19:58 by varies
Thanks again, Kooba.
The Discretionary Trust seems to hold 25.71%, say 2 million shares now worth c. £480,000.
I wonder if THAL has any security for the loan beyond this holding. The share price may well have been about 70p when these arrangements were made.
There seem to be good reasons for Thalassa Holdings being registered in the British Virgin Islands !
Posted at 06/1/2024 14:07 by kooba
That is true and leads to a conflicted position for Soukup who is the only obvious beneficiary. Controlling the discretionary trust means he has full control of the company ..DS is a trustee. The trust owns shares in the company but owes the company a chunk of money that presumably is secured against the shares. The shareholding now does not cover the loan and there is no obvious way that the debt can be repaid. The Loan is to the THAL Discretionary Trust, the terms of the loan are set with a 0% interest rate however interest has been accrued at 3% as per IFRS requirements, it is the intention of the Company to waive this interest upon repayment of the capital. It's effectively an interest free loan to himself now invested in the shares which have fallen well below the loan amount and there is no obvious way how shareholders will get repaid. Using shareholder funds on this scale and holding such a large equity holding is highly dubious.This all needs tidying up for the benefit of all shareholders..it's a bloody mess and the non executives need to step up and protect minority shareholder interests. Should all be wound up and cash repaid.
Posted at 06/1/2024 12:06 by varies
Thanks so much, Kooba.
Amongst the assets I see a loan of £1,492,000 to the Thalassa Discretionary Trust, a trust set up for the benefit of employees and presumably managed by Mr. Soukup.
The trust has a large holding in THAL but no information is provided about its other assets and whether it could repay this loan.
Mr. Soukup receives a salary from THAL of over £300,000 p.a. So he may not see an advantage in liquidating the company much as you and l and others might like to see this.
Posted at 05/1/2024 12:22 by varies
With many misgivings I have dipped my toe back in this pool and bought a few more shares.
I have spent an hour studying the full annual report for 2022 available on the company web-site and am not much wiser for it.
l do notice in Note 11, however, that the Tappit investment was not been written off entirely in the 2022 accounts as the chairman had promised to compensate THAL for the £3 million initially invested. "As a result, only the value of the accrued interest and Option value , totalling £1,432,041 has been written off above".
So the asset value presumably includes this £3 million expected from the chairman.
Posted at 26/12/2023 13:36 by kooba
Both are correct..one , the larger figure is the number of shares outstanding .. . The smaller figure is shares in issue..that is the figure to use for market cap , the other issued shares are held by the company in treasury following share buybacks. Number of securities in issue (excluding those held in treasury): 7,945,838Number of securities held in treasury: 12,906,521On Newmark from last report in Sept '2023NWT -https://newmarksecurity.com/• Share price performance of NWT continued to recover slowly through H1 2023. We still believe that, given the age of its chairman and the fact that he has three children, two of whom are not involved in the company, that NWT will, in due course, be sold. We are patient investors and will continue to hold our position.From interimsGROUP RESULTS 1H 2023 versus 1H 2022, unless otherwise stated (Unaudited)• Profit /(loss) after tax for the H1 period under review• Group Earnings Per Share (basic and diluted)*1• Book value per share*2 30 June 2023 vs. 31 December 2022• Holdings* 30 June 2023 vs. 31 December 2022• Cash 30 June 2023 vs. 31 December 2022£0.6m vs. £0.6m* based on weighted average number of shares in issue of 7,945,838 (2022: 7,945,838)* based on actual number of shares in issue as at 30 June 2023 of 7,945,838 (2022: 7,945,838)* includes all holdings ex cashSo according to company net assets per share as at 30th June 121p per share...so if you believe the somewhat opaque assets then the shares trade at an 80% discount to assets.DYOR
Posted at 11/2/2023 12:17 by varies
kooba
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.
Posted at 01/2/2023 20:24 by varies
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.
Posted at 19/10/2022 18:03 by kooba
..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.
Posted at 28/3/2019 07:40 by ntv
He has jacked by the THAL share price by restarting the buy back but if he stops the buy back at any point the THAL share price will drop like a stone
He will probably do that to get at LSR's cash
Maybe another preference share issue or some other devious plan to get at your money
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Thalassa share price data is direct from the London Stock Exchange

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