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9 October 2013
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or the "Company")
Appointments and Grant of Options
The Board of Thalassa is delighted to announce that both Rob Anderson and Francis Smulders, non-executive directors of the Company, have agreed to take on greater responsibilities within Thalassa, with Mr Smulders becoming an executive director.
Accordingly Mr Anderson and Mr Smulders have been granted options over 100,000 and 50,000 shares, respectively. The options, which have an exercise price of £2.535 per share, being the last traded price of the shares on 8 October 2013, vest over two (2) years and remain exercisable for three (3) years.
Duncan Soukup, Chairman of Thalassa, commented:
"We are delighted that Francis has agreed to take on an executive role and that Rob has agreed to take on further responsibilities. Their extensive oil and gas services experience can only be of significant benefit to Thalassa as we grow our business."
Thalassa Holdings Ltd:
Duncan Soukup, Executive Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated adviser):
Chris Fielding, Head of Corporate Finance 020 7220 1650
Notes to Editor:
Thalassa Holdings Ltd, incorporated and registered in the BVI and quoted on AIM, is a holding company with a focus on marine seismic operations. The corporate strategy for the Group is "Exploration and Beyond". "Exploration" is focused on activity in frontier and challenging locations, whilst "Beyond" focuses on production activity by looking to secure opportunities in the permanent reservoir monitoring market. Thus activity and focus will be dominated by projects in remote and challenging frontier locations, coupled with lower risk projects in mature producing regions.
Alongside the technical expertise and consultancy in marine seismic operations provided through its subsidiary, WGP, the Group owns and operates two portable modular source systems (PMSS™). The PMSS™ generates a seismic source for use in seismic acquisition in petroleum exploration and production. The equipment is temporarily installed on the back of a platform supply vessel for the purposes of acquiring data.
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