Business
Investment in Papua Mining plc
Investment in Papua Mining plc.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 6272T Thalassa Holdings Limited 16 October 2017 \n\nThalassa Holdings Ltd\n \n (Reuters: THAL.L, Bloomberg: THAL:LN)\n \n(\"Thalassa\" or the \"Company\")\n \nInvestment in Papua Mining plc (\"Papua\")\n \nFurther to Papua's announcement on 13 October 2017 and the Company's on 18 September 2017, the board of Thalassa (the \"Board\") is pleased to announce that the 40,000,000 ordinary shares in Papua, acquired by the Company on 12 October 2016 at 1 pence per share, have been sold at a price of 1.15 pence per share. \n \nThe Company achieved a 23.3% return on investment, the difference being accounted for by currency gains. \n \nDuncan Soukup, Chairman said: \"The Board is delighted to have achieved an impressive return on investment, against a backdrop of the 0.25% interest per annum alternative had the cash been left on deposit at the bank. \n \nThe Board would like to point out that the acquisition of the Papua position was wholly consistent with the revised mandate approved by shareholders which amended the Company's strategy to expand the Board's investment mandate to any industry where the Board identified opportunity for capital growth.\" \n \nInvestor Enquiries: \n \nThalassa Holdings Ltd \n Duncan Soukup, Chairman +33 (0)6 78 63 26 89\nWH Ireland Limited (Nominated Adviser and Broker) \n Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650 \nwww.thalassaholdingsltd.com \n \nNote to Editors:\n \nThalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, ...