Thalassa Holdings: Update on buy back programme
Further to the Company’s announcements of 15 August 2017 and 22 September 2017, the board of directors of Thalassa (the “Board”) has resolved to lift the suspension of the share buy back programme announced on 22 September.
The Board is currently unaware of any impediments to completion of the proposed WGP Group Ltd (“WGP”) and Autonomous Robotics Limited (“ARL”) transactions first announced on 19 April 2017, with closing subject to the renewal by 30 November 2017 of the WGP seismic contract first announced on 27 February 2013.
The Board would however point out that completion of the WGP and ARL transactions is contingent upon final exchange of contracts. The Board anticipates exchange of contracts by the end of November, followed by a general meeting to approve the transaction mid December 2017 with a targeted completion before the yearend 2017.