DJ Thalassa Holdings Ltd: 2025 Interim Results
Thalassa Holdings Ltd (THAL)
Thalassa Holdings Ltd: 2025 Interim Results
29-Sep-2025 / 07:30 GMT/BST
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Thalassa Holdings Ltd
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa", "THAL" or the "Company")
Interim Results for the period ended 30 June 2025
The Company is pleased to announce its results for the six months ended 30 June 2025. The interim results have been
submitted to the FCA and will shortly be available on the Company's website:www.thalassaholdingsltd.com
Highlights for the 6 months ended 30 June 2025
GROUP RESULTS 1H 2025 versus 1H 2024, unless otherwise stated (Unaudited)
Profit /(loss) after tax for the year GBP0.01m vs GBP0.24m
Group Earnings Per Share (basic and diluted)*^1 GBP0.00 vs GBP0.03
Book value per share*^2 GBP0.60 vs GBP1.19
Investment Holdings *^3 GBP10.3m vs GBP8.8m
Cash GBP0.3m vs GBP1.4m
*^1 based on weighted average number of shares in issue of 16,655,838 (2024: 7,945,838)
*^2 based on actual number of shares in issue as at 30 June 2025 of 16,655,838 (2024: 7,945,838)
*^3 including all holdings excl. cash
Chairman's Statement
2025 H1 Highlights
Global markets in the first half of 2025 were marked by elevated volatility driven by geopolitical tensions, U.S. tariff policy changes, and persistent-but slowly declining-global inflation. Nonetheless, the US saw a rebound in major equity indices to record highs as resilience returned, and optimism increased. Risk back on! The S&P 500 ended the half with strong gains driven in large part by robust earnings and enthusiasm in sectors such as AI and technology. Bonds saw modest returns, with continued investor demand despite uncertainty, while international, tech and AI stocks outperformed many traditional sectors.
First Half 2025 Highlights
-- Stocks recovered from volatility: A steep drop in April after aggressive U.S. tariffs was followed by a rapid
recovery, and most global equity indices remained near all-time highs by late June. -- Sector and thematic leadership: AI, technology, and resource sectors were notable outperformers, with corporate
earnings bolstering sentiment; market breadth improved compared to previous years. -- Bond market stability: While bond returns were modest, the market was underpinned by anticipations of rate cuts and
investor search for diversification across asset classes. -- Global shifts: U.S. market leadership was challenged due to currency weakness and policy uncertainty, with Europe
poised for growth and pockets of stability in Asia. -- Private markets: Private equity activity adapted to higher rates and lingering macro uncertainties, but long-term
optimism persisted as investors favoured sectors aligned with innovation and sustainability.
Outlook for H2 2025
-- Continued volatility, but opportunities: Policy and geopolitical risks remain, especially regarding future U.S.
trade policy and ongoing tariff negotiation outcomes; short-term volatility is expected but not at levels
disrupting long-term allocation strategies. -- Monetary policy and bonds: The Federal Reserve and other central banks are likely to cut rates, as the labour
market softens, supporting high-quality bond investments, though the pace will be cautious amid inflationary
concerns from tariffs. -- Possible Fly in the Ointment: Monetary and Fiscal policies in the West are diametrically opposed, with spending far
outreaching income. National debt levels are unsustainable. Increased Tariffs are also driving inflation higher,
whilst at the same time curbing consumption, a perfect recipe for Stagflation. -- A picture paints a thousand words:
https://theusdebtclock.org/
-- US Debt USD37.5 Trillion, with Annual Interest Expense of USD879.9 billion (2024), and climbing. -- Global positioning: Europe and Asia may see upsides from policy reforms and stimulus, while the U.S. faces
headwinds from higher tariffs and a possible growth slowdown.
HOLDINGS' HIGHLIGHTS
NWT - https://newmarksecurity.com/
-- Newmark Security recently published Full Year 2025. Whilst results improved, they were negatively impacted by a 15%
decline in Safetell-sales and the never ending increase in Executive Compensation. -- We have corresponded, met and corresponded again with the Chairman and CEO regarding Compensation, lack of
Corporate Governance and Operational inefficiency (Safetell). We have articulated our concerns, annoyingly however,
in our opinion, the Board continue to run the Company for the benefit of insiders, rather than in the interest of
all shareholders. -- We will, therefore, be voting against the Board and any of their current or future Nominees at the upcoming AGM. -- Till now, our correspondence with the NWT Board has been private, however, given their refusal to address our
concerns, we intend to write an open letter to all shareholders outlining the reasons we will no longer support the
status quo.
ALNA - https://www.alina-holdings.com/
-- ALNA posted results for H1 2025 which can be found on the Company's website, as above.
Autonomous Robotics (ARL)
-- Deep Tech projects take time, money and effort to develop; ARL is clearly in that category. After nigh on 10 years
of development, we are nearing completion of a commercial, pre-production model of the Company's Flying Node, which
should be completed Q4/25 - Q1 26. -- Commercial opportunities identified in both oil and gas as well as offshore clean energy projects. -- The Ukraine/Russia War has transformed warfare as previously waged. Drones and missiles have in many instances
replaced heavy, cumbersome and slow moving or static installations which can easily be located and identified by
aerial drones. -- The same principles that have changed land and air warfare also true for surface and sub-surface marine warfare
where unmanned warships and drones are rapidly replacing frontline assets operated and managed by humans. -- China Type 055 Destroyer, a US Aegis class Destroyer on steroids is soon to be joined by an unmanned mini-Aegis
class destroyer with no personnel on board.
https://min.news/en/military/3fa8b520c29d55e8ceecd8bbbf8e3675.html
-- ARL commercial Node has clear Defense applications.
-- The Board and Management of ARL in conjunction with the Company's external defense consultants is actively engaged
in developing defense application using the ARL commercial node platform.
AMOI - https://anemoi-international.com/
-- Please refer to Anemoi website
SUN - https://www.sigroupplc.com/
-- Surgical Innovations Group PLC (SUN LN)
is a leading UK-based designer, manufacturer, and exporter of innovative high quality medical products primarily for use in laparoscopic and robotic minimally invasive surgery.
THAL has increased its holding in SUN to just under 23%.
SUN's recent results were disappointing, nonetheless, we will continue to engage with the Company in an effort to assist growth efforts and improved efficiency.
Conclusion
Rather obviously, in my opinion, Trade Wars are not good for Global Growth. Excessive deficits funded by Trade Partners, rapidly become unfundable if a government ostracizes its Trading Partners…which the USA is doing with exceptional success.
A protracted Trade War accompanied by higher inflation, falling demand and increased unemployment could easily result in a global economic slowdown of Biblical proportions.
If such a scenario were to play out, a reversion to the mean would result in a 50%+ correction in US markets…without any overshoot.
Duncan Soukup
Chairman
Thalassa Holdings Ltd
26 September 2025
Responsibility Statement
We confirm that to the best of our knowledge:
a. the condensed set of financial statements has been prepared in accordance with IAS 34 'Interim Financial Reporting'
and gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and
the undertakings included in the consolidation as a whole as required by DTR 4.2.4 R;
b. the interim management report includes a fair review of the information required by DTR 4.2.7R (indication of
important events during the first six months and description of principal risks and uncertainties for the remaining
six months of the year); and
c. the interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of
related parties' transactions and changes therein).
Cautionary statement
This Interim Management Report (IMR) has been prepared solely to provide additional information to shareholders to assess the Company's strategies and the potential for those strategies to succeed. The IMR should not be relied on by any other party or for any other purpose.
Duncan Soukup
Chairman
Thalassa Holdings Ltd
26 September 2025
Financial Review
Total income from operations for the period to 30 June 2025 was GBP0.6m (1H24: GBP0.3m).
Cost of Sales was GBP23k (1H24: GBP5k) comprising development costs (net of capitalised costs) at ARL and direct financial holdings expenses, resulting in a Gross Profit of GBP0.6m (1H24: gross profit GBP0.3m).
Administration expenses were GBP0.4m (1H24: GBP0.1m income). Depreciation costs were GBP0.02m (1H24: GBP0.1m). This reduction was due to the surrender of the Swiss office lease by the Company's subsidiary Alfalfa in 2024.
Operating Profit decreased to GBP0.1m (1H24 Profit: GBP0.3m).
Profit before tax was GBP0.01m (1H24 profit: GBP0.2m).
Net assets at 30 June 2025 amounted to GBP10.1m (1H24: GBP9.5m).
Net cash (being cash balances less any financial borrowings) was GBP0.3m as at 30 June 2025 (1H24: GBP1.4m).
Net cash inflow from operating activities amounted to GBP0.16m compared to outflow GBP0.15m in 1H24.
Net cash outflow from investing activities amounted to GBP0.06m, compared to 1H24 outflow of GBP0.02m.
Net cash outflow from financing activities amounted to GBP0.01m (1H24: inflow GBP1.45m).
Interim Condensed Consolidated Statement of Income
For the six months ended 30 June 2025
Six months Six months Year
ended ended ended
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
Note GBP GBP GBP
Income 12,152 102,599 118,185
Net gains/(losses) on investments at fair value 566,066 198,600 (340,498)
Investment dividend income 3,726 4,153 2,480
Currency gains/(losses) - 440 440
Total Income 581,944 305,792 (219,393)
Financial holdings expenses (14,179) (4,987) (19,473)
Other cost of sales (8,460) (312) (18,056)
Total Cost of sales (22,639) (5,299) (37,529)
Gross Profit 559,305 300,493 (256,922)
Administrative expenses excluding exceptional costs (425,585) 102,674 (320,703)
Exceptional administration costs - - (112,777)
Total administrative expenses (425,585) 102,674 (433,480)
Operating profit/(loss) before depreciation 133,720 403,167 (690,402)
Depreciation and Amortisation 4&5 (22,640) (92,676) (107,539)
Operating profit/(loss) 111,080 310,491 (797,941)
Net financial income/(expense) 22,314 (3,414) 18,432
Other gains/(losses) - 16,675 29,175
Impairment of associated entities - - (109,159)
Share of losses of associated entities (120,838) (82,642) (197,678)
Profit/(loss) before taxation 12,556 241,110 (1,057,171)
Taxation (264) (435) 43,051
Profit/(loss) for the year 12,292 240,675 (1,014,120)
Attributable to:
Equity shareholders of the parent 12,292 240,675 (1,014,120)
Non-controlling interest - - -
12,292 240,675 (1,014,120)
Earnings per share - GBP (using weighted average number of
shares)
Basic and Diluted 3 0.00 0.03 (0.13)
The notes on pages 14 to 19 form an integral part of this consolidated interim financial information.
Interim Condensed Consolidated Statement of Comprehensive Income
For the six months ended 30 June 2025
Six months Six months Year
ended ended ended
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
GBP GBP GBP
Profit/(loss) for the financial year 12,292 240,675 (1,014,120)
Other comprehensive income:
Exchange differences on re-translating foreign operations (346,631) 15,851 20,037
Total comprehensive income (334,339) 256,526 (994,083)
Attributable to:
Equity shareholders of the parent (334,339) 256,526 (994,083)
Non-Controlling interest - - -
Total Comprehensive income (334,339) 256,526 (994,083)
The notes on pages 14 to 19 form an integral part of this consolidated interim financial information.
Interim Condensed Consolidated Statement of Financial Position
As at 30 June 2025
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Note Unaudited Unaudited Audited
Assets GBP GBP GBP
Non-current assets
Intangible assets 4 2,158,446 1,810,615 1,986,276
Property, plant and equipment 5 23,984 30,369 15,505
Loans 7 2,620,661 3,305,798 2,772,292
Investments in associated entities 8 1,497,033 1,946,174 1,737,555
Total non-current assets 6,300,124 7,092,956 6,511,628
Current assets
Trade and other receivables 209,640 311,219 536,593
Investments at fair value through profit or loss 6 3,813,679 1,352,143 3,368,193
Cash and cash equivalents 295,194 1,445,949 546,890
Total current assets 4,318,513 3,109,311 4,451,676
Liabilities
Current liabilities
Trade and other payables 539,696 739,362 573,508
Lease liabilities 9 15,752 - -
Total current liabilities 555,448 739,362 573,508
Net current assets 3,763,065 2,369,949 3,878,168
Non-current liabilities
Lease liabilities. 9 7,732 - -
Total non-current liabilities 7,732 - -
Net assets 10,055,457 9,462,905 10,389,796
Shareholders' Equity
Share capital 11 196,029 128,977 196,029
Share premium 23,752,772 21,717,786 23,752,772
Treasury shares (8,558,935) (8,558,935) (8,558,935)
Other reserves (1,620,859) (1,696,321) (1,620,859)
Foreign exchange reserve 3,904,246 4,246,691 4,250,877
Retained earnings (7,617,796) (6,375,293) (7,630,088)
Total shareholders' equity 10,055,457 9,462,905 10,389,796
Total equity 10,055,457 9,462,905 10,389,796
The notes on pages 14 to 19 form an integral part of this consolidated interim financial information.
These financial statements were approved by the board on 26 September 2025.
Signed on behalf of the board by:
Duncan Soukup
Interim Condensed Consolidated Statement of Cash Flows
For the six months ended 30 June 2025
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
Notes GBP GBP GBP
Profit/(Loss) before financing from: 111,080 310,491 (797,941)
Adjustments for:
Net finance costs (3,141) (24,879) (27,057)
Other income - - 116
(Increase)/decrease in trade and other receivables 326,953 477,563 429,690
(Decrease)/increase in trade and other payables (33,812) (800,387) (966,239)
(Gain)/loss on disposal of portfolio investments (225,861) 18 (15,610)
Net exchange differences 297,226 (3,108) (43,190)
Depreciation/Amortisation 4&5 22,640 92,676 107,539
Fair value movement on portfolio investments (334,562) (198,843) 363,673
Cash generated by operations 160,523 (146,469) (949,019)
Taxation (264) (435) 43,051
Net cash flow from operating activities 160,259 (146,904) (905,968)
Sale/(purchase) of property, plant and equipment - 100,724 113,226
Sale/(purchase) of intangible assets 4 (172,170) (117,484) (293,145)
Net (purchase)/sale of portfolio investments 6 111,705 (4,495) (1,282,467)
Net cash flow in investing activities (60,465) (21,255) (1,462,386)
Cash flows from financing activities
Interest Income 3,290 619 -
Interest Expense (149) (1,948) -
Loans collected - 1,511,575 2,085,612
Issuance of share capital - - 716,814
Repayment of borrowings (8,000) (55,284) (50,514)
Net cash flow from financing activities (4,859) 1,454,962 2,751,912
Net increase in cash and cash equivalents 94,935 1,286,803 383,558
Cash and cash equivalents at the start of the year 546,890 143,295 143,295
Effects of exchange rate changes on cash and cash equivalents (346,631) 15,851 20,037
Cash and cash equivalents at the end of the year 295,194 1,445,949 546,890
The notes on pages 14 to 19 form an integral part of this consolidated interim financial information.
Interim Condensed Consolidated Statement of Changes in Equity
For the six months ended 30 June 2025
Share Share Treasury Other Foreign Exchange Retained
Capital Premium Shares Reserves Reserve Earnings Total
GBP GBP GBP GBP GBP GBP GBP
Balance as at 128,977 21,717,786 (8,558,935) (1,696,321) 4,230,840 (6,615,968) 9,206,379
31 December 2023
Total comprehensive - - - - 15,851 240,675 256,526
income
Balance as at 128,977 21,717,786 (8,558,935) (1,696,321) 4,246,691 (6,375,293) 9,462,905
30 June 2024
Issuance of share 67,052 2,110,448 - - - - 2,177,500
capital
Other reserves - - (75,462) - 75,462 - - -
warrants
Total comprehensive - - - - 4,186 (1,254,795) (1,250,609)
income
Balance as at 196,029 23,752,772 (8,558,935) (1,620,859) 4,250,877 (7,630,088) 10,389,796
31 December 2024
Total comprehensive - - - - (346,631) 12,292 (334,339)
income
Balance as at 196,029 23,752,772 (8,558,935) (1,620,859) 3,904,246 (7,617,796) 10,055,457
30 June 2025
The notes on pages 14 to 19 form an integral part of this consolidated interim financial information.
Notes to the Interim Condensed Consolidated Financial Information
1. General information
Thalassa Holdings Ltd (the "Company") is a British Virgin Island ("BVI") International business company ("IBC"), incorporated and registered in the BVI on 26 September 2007. The Company is a holding company with various interests across a number of industries.
Autonomous Robotics Limited ("ARL" - formerly GO Science 2013 Ltd) is a wholly owned subsidiary of Thalassa and is an Autonomous Underwater Vehicle ("AUV") research and development company.
Apeiron Holdings (BVI) Ltd is a BVI registered company and is wholly owned by Thalassa. It owns 100% of Alfalfa Holdings AG which is a company registered in Switzerland.
WGP Geosolutions Limited is a wholly owned subsidiary of Thalassa currently non-operational.
Thalassa Holdings (II) Ltd is a wholly owned subsidiary of Thalassa which is non-operational, incorporated and registered in the BVI on 30 January 2023.
DOA Alpha Ltd is a wholly owned subsidiary of Thalassa which is non-operational and registered in the BVI. It has two additional subsidiaries, DOA Exploration Ltd registered in England and Wales and DOA Delta Ltd registered in the BVI, both non-operational.
2. Significant Accounting policies
The Company prepares its accounts in accordance with applicable UK Adopted International Accounting Standards.
The accounting policies applied by the Company in this unaudited consolidated interim financial information are the same as those applied by the Company in its consolidated financial statements as at and for the period ended 31 December 2024 except as detailed below.
The financial information has been prepared under the historical cost convention, as modified by the accounting standard for financial instruments at fair value.
2.1. Basis of preparation
The condensed consolidated interim financial information for the six months ended 30 June 2025 has been prepared in accordance with International Accounting Standard No. 34, 'Interim Financial Reporting'. They do not include all of the information required for full annual financial statements and should be read in conjunction with the consolidated financial statements of the Company as at and for the year ended 31 December 2024. Prior year comparatives have been reclassified to conform to current year presentation.
These condensed interim financial statements for the six months ended 30 June 2025 and 30 June 2024 are unaudited and do not constitute full accounts. The comparative figures for the period ended 31 December 2024 are extracted from the 2024 audited financial statements. The independent auditor's report on the 2024 financial statements was not qualified.
All intra-company transactions, balances, income and expenses are eliminated in full on consolidation.
2.2. Going concern
The financial information has been prepared on the going concern basis as management consider that the Company has sufficient cash to fund its current commitments for the foreseeable future.
Notes to the Interim Condensed Consolidated Financial Information Continued
3. Earnings per share
Six months Six months Year
ended ended ended
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
The calculation of earnings per share is based on
the following loss and number of shares:
Profit/(loss) for the period 12,292 240,675 (1,014,120)
Weighted average number of shares of the Company 16,655,838 7,945,838 7,960,493
Earnings per share:
Basic and Diluted (GBP) 0.00 0.03 (0.13)
Number of shares outstanding at the period end: 16,655,838 7,945,838 16,655,838
4. Intangible assets
Development
costs Patents Software Total
GBP GBP GBP GBP
At 31 December 2024
Cost 1,796,333 189,943 - 1,986,276
Accumulated amortisation - - - -
Net book amount 1,796,333 189,943 - 1,986,276
Half-year ended 30 June 2025
Opening net book amount 1,796,333 189,943 - 1,986,276
1,796,333 189,943 - 1,986,276
Additions 168,141 4,029 - 172,170
Disposals - - - -
Amortisation charge - - - -
Closing net book amount 1,964,474 193,972 - 2,158,446
At 30 June 2025
Cost 1,964,474 193,972 - 2,158,446
Accumulated amortisation - - - -
Net book amount 1,964,474 193,972 - 2,158,446
The intangible assets held by the Company increased as a result of capitalising the development costs of Autonomous Robotics Ltd ("ARL").
Notes to the Interim Condensed Consolidated Financial Information Continued
5. Property, plant and equipment
Plant
Land and and Motor
Total buildings Equipment Vehicles
Cost GBP GBP GBP GBP
Cost at 1 January 2025 367,588 - 131,075 236,513
367,588 - 131,075 236,513
Additions 31,119 31,119 - -
Disposals (1,360) - (1,360) -
Cost at 30 June 2025 397,347 31,119 129,715 236,513
Depreciation
Depreciation at 1 January 2025 352,083 - 129,792 222,291
352,083 - 129,792 222,291
Charge for the year on continuing operations 22,640 7,780 638 14,222
Disposal (1,360) - (1,360) -
Depreciation at 30 June 2025 373,363 7,780 129,070 236,513
Closing net book value at 30 June 2025 23,984 23,339 645 0
6. Securities
The Company classifies the following financial assets at fair value through profit or loss (FVPL):-
Equity investments that are held for trading.
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
GBP GBP GBP
Securities
At the beginning of the period 3,368,193 1,159,250 1,159,250
Additions 1,574,637 8,700 2,713,615
Unrealised gain/(losses) 560,423 198,824 (348,063)
Disposals (1,686,342) (4,205) (147,962)
Forex on opening balance (3,232) (10,426) (8,647)
At period close 3,813,679 1,352,143 3,368,193
Investments have been valued incorporating Level 1 inputs in accordance with IFRS7.
Notes to the Interim Condensed Consolidated Financial Information Continued
7. Loans and holdings
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
GBP GBP GBP
Loans at period open 1,573,434 1,501,158 1,501,158
Accrued interest - to be waived 22,679 22,794 45,489
Forex on opening balance (140,975) 8,950 26,787
Loans at period close 1,455,138 1,532,902 1,573,434
Portfolio Holdings at 1 January 1,198,858 3,284,471 3,284,471
Repaid - (1,511,575) (2,085,613)
Forex on opening balance (33,335) - -
Portfolio holdings at period close 1,165,523 1,772,896 1,198,858
Total of loans and holdings 2,620,661 3,305,798 2,772,292
The Loan is to the THAL Discretionary Trust, the terms of the loan are set with a 0% interest rate however interest has been accrued at 3% as per IFRS requirements, it is the intention of the Company to waive this interest upon repayment of the capital.
8. Investments in associated entities
On 17 December 2021, the acquisition of id4 was completed by Anemoi International Ltd with consideration in the form of shares issued to Thalassa and its subsidiary Aperion BVI totalling 36.92% of the voting rights. The investment is recognised using the equity method as described in the financial statements for December 2022. During 2023 further shares were purchased to equal a total of 40.77% of the voting rights.
Athenium Consultancy Ltd in which the Company owns 35% shares was incorporated on 12 October 2021. The investment is recognised using the equity method.
Movement on interests in associates can be summarised as follows:
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
GBP GBP GBP
Fair value of investment at beginning of period 1,737,555 2,019,367 2,019,367
Share of losses for the period (119,742) (82,854) (198,940)
Impairment of Anemoi - - (110,000)
Exchange Variance (120,780) 9,661 27,128
1,497,033 1,946,174 1,737,555
There are no other entities in which the Company holds 20% or more of the equity, or otherwise exercises significant influence over the affairs of the entity.
Notes to the Interim Condensed Consolidated Financial Information Continued
9. Lease liabilities
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
Non-current liabilities GBP GBP GBP
Lease liabilities 7,732 - -
7,732 - -
Current liabilities
Lease liabilities 15,752 - -
15,752 - -
The lease liabilities comprise of amounts owed in relation to office lease held by ARL. The new lease was entered into by ARL in January 2025 for office space in Southampton.
10. Related party balances and transactions
Under the consultancy and administrative services agreement initially entered into on 3 January 2011 and most recently updated 1 February 2018 with a company in which the Chairman has a beneficial interest, the Company accrued GBP139,942 (1H24 accrued: GBP133,100 and waived GBP535,295 related to 2022 & 2023) for consultancy and administrative services provided to the Company and GBP6,520 expenses. As at 30 June 2025 the amount owed to this company was GBP268,139 (1H24: GBP251,690).
Athenium Consultancy Ltd, a company in which the Company owns shares invoiced the Company for financial and corporate administration services totalling GBP90,750 plus GBP8,819 expenses for the period (June 2024: GBP90,750 plus GBP7,483 expenses). As at 30 June 2025 the amount owed to this company was GBP52,940 (1H24: GBP159,967).
The Company was due GBPNil (June 2024: GBP13,149) from Anemoi International Ltd, a company in which through its subsidiary Apeiron Holdings BVI holds shares and is related by common control through the Chairman, Duncan Soukup.
As at the period end the Company was due GBP47,443 (June 2024: GBP44,380) from Alina Holdings Limited, a company under common directorship.
During the period David Thomas, non-executive director, invoiced the Group GBPNil of which GBPNil was owed as at 30 June 2025 (1H24: GBPNil) and GBP10,000 accrued.
During the period Kenneth Morgan, non-executive director, invoiced the Group 2024 fees of GBP8,059 of which GBPNil was owed as at 30 June 2025 (1H24: GBPNil) and GBP4,006 accrued.
During the period Alexander Joost, director of Alfalfa, invoiced the Group GBPNil of which GBPNil was owed as at 30 June 2025 (1H24: GBPNil) and GBP2,756 accrued.
During the period GBP24,000 was paid to Offshore Robotics related to David Grant's director fees for his directorship of ARL, total 2025 fees were GBP14,000 of which GBP2,333 was owed as at 30 June 2025 (1H24: GBP2,333) and GBP2,333 accrued.
Notes to the Interim Condensed Consolidated Financial Information Continued
11. Share capital
As at As at As at
30 Jun 25 30 Jun 24 31 Dec 24
Unaudited Unaudited Audited
GBP GBP GBP
Authorised share capital:
100,000,000 ordinary shares of USD0.01 each 1,000,000 1,000,000 1,000,000
Exchange Rate for Conversion 1.61674 1.61674 1.61674
100,000,000 ordinary shares of USD0.01 each in GBP 618,529 618,529 618,529
Allotted, issued and fully paid:
20,852,359 ordinary shares of USD0.01 each 208,522 208,522 208,522
Average Exchange Rate for Conversion 1.61674 1.61674 1.61674
20,852,359 ordinary shares of USD0.01 each in GBP 128,977 128,977 128,977
Equity placing 8,710,000 ordinary shares of USD0.01 67,052 - 67,052
The exchange rate used for conversion is the aggregate rate for the transactions as they occurred.
12. Subsequent events
On 22nd July 29,950,000 warrants held by the Anemoi Discretionary Trust in Anemoi International Ltd were transferred to Thalassa Holdings Ltd and the existing loan due from the Trust to the Company was extinguished.
13. Copies of the Interim Report
The interim report is available on the Company's website:
www.thalassaholdingsltd.com.
END
For further information, please contact:
Enquiries: enquiries@thalassaholdingsltd.com Thalassa Holdings Ltd www.thalassaholdingsltd.com
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Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: VGG878801114 Category Code: IR TIDM: THAL LEI Code: 2138002739WFQPLBEQ42 Sequence No.: 403418 EQS News ID: 2204646 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
September 29, 2025 02:30 ET (06:30 GMT)
