12th Sep 2016 08:03
LONDON (Alliance News) - Thalassa Holdings Ltd on Monday said it has acquired a further stake in Local Shopping REIT PLC having increased its holding in the company last week and will now seek for Local Shopping to review its investment policy.
Thalassa said it has spent another GBP2.1 million to acquire a further 6.2 million Local Shopping shares. Having acquired 10.4 million shares in the company last week, Thalassa said it now owns a 23% stake in Local Shopping.
Thalassa Chairman Duncan Soukop said Thalassa now intends to engage with Local Shopping's chairman "as soon as practicable", adding it will do so "with a view to reviewing and changing LSR's investment policy approved in July 2013".
No further details were provided on the changes Thalassa will push for at Local Shopping, which owns convenience store assets in the UK, were provided.
Shares in Thalassa were up 0.6% at 40.25 pence on Monday morning, while shares in Local Shopping were down 0.8% at 30.75p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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