DJ Thalassa Holdings Ltd: Trading Statement
Thalassa Holdings Ltd (THAL) Thalassa Holdings Ltd: Trading Statement 28-Feb-2022 / 13:37 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa, "THAL" or the "Company")
Trading Update
Thalassa, a holding company with interests across a number of industries including real estate, robotics and technology, is pleased to announce a trading update.
Duncan Soukup, Chairman, on behalf of the Board of Directors (the "Board"), I am pleased not to mention, relieved, to present the market with the following positive Trading Update:
"Our continued hedging efforts have resulted in significant positive contribution during the recent and on-going market correction caused by Covid-19, potential, and in some cases actual Central Bank tightening and, by the invasion of Ukraine by Russia's "Peace Keeping" Forces."
"The Company's Board is unanimous in its view that the current correction has further to run, and that the possibility exists for substantial economic slowdown in the coming months, as higher commodity prices feed into higher consumer prices. Our fear is that Europe and the USA could experience a damaging bout of Stagflation (Sluggish economic growth coupled with a high rate of inflation and increasing unemployment), resulting in recession. A proxy for this view can be seen in recent results of TJ Maxx (TJX US) a retail bellwether which missed its Q4 numbers due to supply-chain problems and rising personnel costs, resulting in sales and margins, which fell short of market expectations."
"I would like to emphasise that the Company's hedge positions are unlikely to fully protect against a complete collapse in global stock markets; they should, however, give a good degree of protection against a continued decline in stock prices, particularly in overvalued Tech. Shares and investor 'fear'."
"I look forward to expanding on these comments and quantifying the impact of current market volatility on our holdings in our forthcoming Annual Report for 2021 and Interims Results for 2022".
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
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Investor Enquiries: Thalassa Holdings Ltd Duncan Soukup, Chairman +33 (0)6 78 63 26 89
www.thalassaholdingsltd.com
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ISIN: VGG878801114 Category Code: TST TIDM: THAL LEI Code: 2138002739WFQPLBEQ42 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 145839 EQS News ID: 1290171 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
February 28, 2022 08:37 ET (13:37 GMT)
