Business
Response to LSR announcement
Response to LSR announcement.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 8891T Thalassa Holdings Limited 25 March 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. IN PARTICULAR, THIS ANNOUNCEMENT SHOULD NOT BE RELEASED, PUBLISHED, DISTRIBUTED, FORWARDED OR TRANSMITTED, IN WHOLE OR IN PART, IN, INTO OR FROM ANY RESTRICTED JURISDICTION, INCLUDING THE UNITED STATES.\nTHIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND NO INVESTMENT DECISION IN RELATION TO THE OFFER OR THE THALASSA CONSIDERATION SHARES SHOULD BE MADE EXCEPT ON THE BASIS OF INFORMATION IN THE OFFER DOCUMENT AND PROSPECTUS EQUIVALENT DOCUMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. \nFOR IMMEDIATE RELEASE\n25 March 2019\n \nThalassa Holdings Ltd\n(\"Thalassa\" or the \"Company\")\n \nResponse to LSR announcement\n \nTime to focus on the facts: \n \nThe Offer represents an attractive exit opportunity for beleaguered LSR Shareholders \n \nThe Share Buy-back Programme offers post transaction liquidity\n \nThere is NO certainty of exit through LSR's opaque, costly and open-ended alternative proposal\n \n \nThe Thalassa Board notes the announcement made by LSR on 21 March 2019 in response to Thalassa's announcement of 19 March 2019.\nWhether the LSR Board acknowledges it or not, the Offer represents a deliverable and certain exit at an attractive value of 35.7 pence per Offer Share. The Thalassa Board believes that this value is in excess of any potential return that LSR Shareholders may receive from the LSR Board's unquantified, potentially costly and, in the Thalassa Board's opinion, risky liquidation strategy. Thalassa believes that the LSR proposal is certain only insofar that it will entail additional unquantified costs which will only erode LSR Shareholder value further and yet again reduce LSR's already shattered NAV.\nThalassa believes that the Offer is the best possible alternative for LSR Shareholders to receive fair value for their LSR Shares after having seen the value of their investment continue to decline, as it has every year since inception.\nLSR Shareholders are invited to accept the Offe...