Business
Statement regarding LSR's Response Circular
Statement regarding LSR's Response Circular.
About this update from Thalassa Holdings Ltd
[{"type":"text","content":"\n \nRNS Number : 3265T Thalassa Holdings Limited 19 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 THE 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\n19 March 2019\nThalassa Holdings Ltd\n(\"Thalassa\", \"THAL\" or the \"Company\")\n \nStatement regarding LSR's Response Circular\n \n \nThe Thalassa Board considers the circular posted by LSR on 12 March 2019 (the \"Response Circular\") as a feeble attempt by the LSR Board to divert attention away from their own spectacular failure. \nü THALASSA'S OFFER REPRESENTS A DELIVERABLE AND CERTAIN EXIT AT AN ATTRACTIVE VALUE OF 35.7 PENCE PER OFFER SHARE \nX THE THALASSA BOARD BELIEVES THAT THE LSR BOARD'S PROPOSAL DOES NOT PRESENT A CREDIBLE ALTERNATIVE BECAUSE:\n· it lacks any substance and is expressed without any certainty or binding commitment as to timing or value\n· it can only add further costs, to be borne by LSR Shareholders, further eroding LSR's NAV\n· it will further extend the five and a half years that LSR Shareholders have already waited for any return under LSR's investment policy\nLSR SHAREHOLDERS ARE INVITED TO ACCEPT THALASSA'S DELIVERABLE OFFER AS SOON AS POSSIBLE. THE FIRST CLOSING DATE OF THE OFFER IS 1.00 p.m on 27 MARCH 2019.\n\nCommenting on the Response Circular, Duncan Soukup, Chairman of Thalassa, stated:\n \n\"I strongly urge the LSR Shareholders to consider our Offer on its merits rather than listening t...