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 0.0% 65.50 7,167 08:00:00
Bid Price Offer Price High Price Low Price Open Price
64.00 67.00 65.50 65.50 65.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 0.04 1.14 4.39 15.2 11
Last Trade Time Trade Type Trade Size Trade Price Currency
14:22:52 O 4,976 64.25 GBX

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Date Time Title Posts
29/4/202107:16THALASSA ENERGY, Oil Service Company.4,389
12/9/201312:32THALASSA ENERGY:13
06/8/200803:55Thalassa Energy Ltd.8

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Thalassa Daily Update: Thalassa Holdings Limited is listed in the Oil Equipment Services & Distribution sector of the London Stock Exchange with ticker THAL. The last closing price for Thalassa was 65.50p.
Thalassa Holdings Limited has a 4 week average price of 65p and a 12 week average price of 61.50p.
The 1 year high share price is 68.50p while the 1 year low share price is currently 48.50p.
There are currently 17,090,275 shares in issue and the average daily traded volume is 11,292 shares. The market capitalisation of Thalassa Holdings Limited is £11,194,130.13.
kooba: 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: Hi what is the NAV per share for THAL what discount is it trading at ? Thanks
kooba: 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: 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.
varies: tiswas I hold no shares in any of these 3 companies but have held THAL shares in the past. AMOI and LSR do not attract me but THAL's discount to assets is very tempting. Mr Soukup does whatever he wants at THAL. His recent transactions seem uninspired but he may strike lucky next time and I think that spinning off AMOI and LSR enhances the remaining company although the exercise must have incurred some large expenses. Small shareholders in a small company are always at the mercy of the large shareholders who control it. This is unavoidable.
kooba: Well I'll give it a go.If you had 10000 THAL you will now have6635 THAL and you will get 15000 LSR20000 AnemoiBoth listing shortly, Anemoi announced first day dealing 26th Oct.The book value per share pre corporate action was 150p (inc 92p cash)The book value of the distribution holdings equates to about 45p , bit under 1/3 of assets but since your holding has shrunk by a 1/3 there should be no real adjustment in THAL price or the per share book value..unsure at the cash per share post distribution ,might have gone up I guess.That's how I read it.As to whether this ends up enhancing shareholder value one will need to look at the new holdings value and what happens there. But move today not a great start.Will ultimately depend on the acquisitions these vehicles make which if well received should add value. Might also prompt rerate of THAL itself nearer to book.If I have this wrong can someone let me know please!
tiswas: baner What was the average price of buy backs, I am pretty sure it is well above the recent share price. That is not creating value, as yet. Then look at the historic share price graph to see how the value of your investment has done over the last few years. Then look at how the market values the shares v nav. He may well end up a winner but not just yet!
kooba: Well some big news announcements and no comment.My take is that there is frustration at the share price relative to core value and hence the regig in holdings as they are poised to launch a number of acquisitions through the controlled vehicles , hence in speci distribution of two separate listed counters. Looks like asset value of companies to be de-merged 45-50p.I reckon the assets left in THAL will be at least 100p.So as with everything in this market who knows how they will trade after distribution. But likely to be lots of activity coming.The cash return on Croatian venture removes some uncertainty and at no cost, unfortunately the world has changed a bit since inception of that move.I think exciting times over the next few months and hopefully a better reflection of underlying value. Is THAL becoming a SPAC ( shell ) machine ...if they have the deals to reverse in can create huge value.Pleased price is responding.
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 YOU HAVE BEEN WARNED
varies: On further reflection I find that the offer for LSR cannot make sense for THAL shareholders. We are told that the asset value of THAL is well above the current share price : over 120p, I believe. For this reason THAL is buying its own shares in. Yet, as has been pointed out here, the value indicated by LSR's current share price is much lower. Taking 28.5p an offer of 14.64p cash plus 26/100ths of a THAL share indicates a value of only 53.3p for a THAL share. If the offer succeeds, there will be many disgruntled former LSR shareholders eager to sell their THAL shares on any substantial rise and this is likely to be a dampener for some time. At the risk of proving too clever, I have sold some THAL at 80.5p and put the money into LSR at 28.5p. Unfortunately the purchase attracts stamp duty of 0.5% but this "arbitrage" seems hard to resist. If THAL go away, LSR shareholders should eventually receive over 30p but the wait may be a long one ! If the offer succeeds, I stand to recover half my outlay in cash and the cancellation of THAL's preference shares would make its ordinary shares less unattractive.
Thalassa share price data is direct from the London Stock Exchange
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