Thalassa Holdings Limited Investment in Papua Mining plc (6272T)
October 16 2017 - 1:00AM
UK Regulatory
TIDMTHAL
RNS Number : 6272T
Thalassa Holdings Limited
16 October 2017
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
Investment in Papua Mining plc ("Papua")
Further 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.
The Company achieved a 23.3% return on investment, the
difference being accounted for by currency gains.
Duncan 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.
The 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."
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650
www.thalassaholdingsltd.com
Note to Editors:
Thalassa Holdings Ltd, incorporated and registered in the BVI
and quoted on AIM, is a holding company with various interest
across a number of industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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