Business
Share Dealings
Share Dealings.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 2171X Thalassa Holdings Limited 08 January 2014 \n \n\n8 January 2014\n \nThalassa Holdings Ltd\n \n(Reuters: THAL.L, Bloomberg: THAL:LN)\n \n(\"Thalassa\" or the \"Company\")\n \nTransaction in own Shares, Director's Sale and Related Party Transactions\n \n \nThe Board reported on 8 January 2014 Thalassa's continuing strong performance in 2013, which the Board largely attributes to the performance of its employees and consultants. The Board is therefore keen to promote a programme of management share ownership so as to incentivise and reward these individuals on a long term basis for the benefit of all shareholders.\n \nThe Board is therefore pleased to announce that Duncan Soukup, the Company's Chairman, has agreed today to sell 1,000,000 shares of $0.01 each of the Company (\"Ordinary Shares\") to the THAL Discretionary Trust at a price of £2.70 per share. Following the sale Mr Soukup will be interested in 3,112,571 Ordinary Shares.\n \nThe Board also announces that the Company has also agreed today to sell 1,078,667 Ordinary Shares to the THAL Discretionary Trust out of treasury at a price of £0.264 per Ordinary Share.\n \nUpon completion of these sales, the THAL Discretionary Trust, which holds the shares for the benefit of the Company's employees, directors and consultants, will be interested in a total of 3,078,667 Ordinary Shares.\n \nFollowing the sale of the Ordinary Shares in treasury, the Company's issued share capital will comprise 25,057,522 Ordinary Shares, with no further Ordinary Shares held in treasury.\n \nTo finance these purchases by the THAL Discretionary Trust, the Company has agreed to provide a loan of £3,054,768 to the THAL Discretionary Trust. The loan, which has been granted for a term of up to 36 months, bears interest annually at Base Rate plus 3 per cent. \n \nThe purchase of the 1,078,667 Ordinary Shares from the Company's treasury and the £3,054,768 loan from the Company to the Trust both represent related party transactions under AIM Rule 14. The Directors of the Company, other than Mr Soukup who is a trustee of the Trust, (the \"Independent Directors\") having consulted with the Company's nominated adviser, consider that the terms of these transactions are fair and reasonable insofar as the Company's shareholder...