Business
Loan Facility Completion - Gitone
Loan Facility Completion - Gitone.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 9247A Thalassa Holdings Limited 27 January 2020 \n\nThalassa Holdings Ltd\n(Reuters: THAL.L, Bloomberg: THAL:LN)\nLoan Facility Completion - Gitone\nThis announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.\nThe Board of Thalassa (\"THAL\" or \"the Company\") is pleased to announce that the Company has entered into a contract with Gitone Beteiligungsverwaltungs GmbH (\"the \"Partner\") to lend €11 million to the Partner through 2 tranches: €5.5 million now and €5.5 million within six months through a cumulative loan (the \"Loan\") with a conditional conversion option.\nThe Loan attracts an interest rate of 0.75% + EURIBOR which is waived in the event of conversion. The Partner has a number of investments in Europe, including the CEE region, with the latest investment in Croatia in Q4 2019. In this latest transaction the Partner acquired a controlling stake in a Croatian hotel and leisure group which in 2018 generated €11 million of EBITDA on €42.5 million of Revenue.\nA further announcement will be made when the second tranche is lent and in the event of conversion.\nDuncan Soukup, Chairman of THAL stated:\n\"Croatia is a truly beautiful country with an unspoiled coastline and over 1,200 pristine islands and islets stretching over 1,000 miles southwards from the Istrian Peninsular to Dubrovnik and the Montenegro border. I am thrilled to be involved in such an exciting opportunity and look forward to reporting more extensively in due course.\"\nEND\n\n\n\nEnquiries:\n\n\n\n\n\n\n\nThalassa Holdings Ltd\n\n\n\n\n\n\n\nDuncan Soukup (Executive Chairman)\n\n\n+33 (0)6 78 63 26 89\n\n\n\n\nWH Ireland Limited (Financial Adviser)\n\n\n+44 (0)207 220 1650\n\n\n\n\nChris Fielding, Managing Director, Corporate Finance\n\n\n\n\n\n\n \nwww.thalassaholdingsltd.com \nNote to Editors:\nAbout Thalassa\nThalassa Holdings Ltd, incorporated and registered in the BVI, is a holding company with various interests across a number of industries.\n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ls...