Thalassa Holdings Limited Completion of the sale of the assets of WGP Group (6364A)
02 January 2018 - 6:00PM
UK Regulatory
TIDMTHAL
RNS Number : 6364A
Thalassa Holdings Limited
02 January 2018
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Completion of the sale of the assets of WGP Group Ltd
("WGP")
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Further to the Company's announcement on 19 December 2017, the
board of directors of Thalassa (the "Board") is pleased to announce
that the sale of the assets of WGP to Fairfield Industries
Incorporated, doing business as FairfieldNodal, Inc. ("FFN"), has
completed. As previously announced, the Board expects that the
proposed investment by FFN in Autonomous Robotics Ltd will be
concluded by no later than 31 March 2018.
Duncan Soukup, Chairman of the Company, said: "I have been
involved with WGP for a number of years and it is with some
satisfaction that we now pass on a better, stronger and more
competitive company than the one that we purchased. I am delighted
to have navigated WGP through two major downturns in the industry,
but feel that we have taken WGP as far as we can and I now wish, on
behalf of the Board, FFN and the WGP staff every success in the
future."
"We are excited about the expertise, talent and track record of
strong project execution we gain with the WGP acquisition," says
Charles (Chuck) Davison Jr, President and CEO of FairfieldNodal.
"WGP's proven technology and operational capabilities around active
reservoirs make them a natural fit into the FairfieldNodal suite of
services. We look forward to working with the WGP team, combining
forces to provide customers with seamless reservoir services and
increasing our collective value proposition."
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 interests
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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