17th Dec 2021 20:31
Thalassa Holdings Ltd - British Virgin Islands-based investment holding company - Notes completion of the acquisition by Anemoi International Ltd of its subsidiary id4 AG. Thalassa has disposed of its 84% shareholding in id4 for GBP4.5 million.
Chair Duncan Soukup says: "We are delighted with the successful closing of the AMOI - id4 AG transaction, which now gives id4 the necessary capital to grow sales and achieve profitability. Whilst id4 is still an early-stage growth company, I am happy and grateful for the support received from current and new investors in a difficult market, The AMOI - id4 transaction was a relatively complex cross-border transaction, made more difficult by health-related interruptions during the process, and which, therefore, absorbed significantly more of management's time and effort than anticipated. The completion of this transaction will now give us all more time to focus on THAL's other assets."
Current stock price: 66.50 pence
Year-to-date change: up 9.0%
By Arvind Bhunjun; [email protected]
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