viewThalassa Holdings Limited

Thalassa to set up Luxembourg subsidiary ahead of Brexit

Thalassa said the subsidiary will provide the group with more flexibility after the UK leaves the European Union

The company's holdings include shopping real estate firm The Local Shopping REIT

Thalassa Holdings Ltd (LON:THAL) plans to set up a new subsidiary in Luxembourg to obtain a listing on the country’s stock exchange ahead of Brexit.

The company, which has holdings in various industries including autonomous underwater vehicle research, homeland security and real estate, said the new Luxembourg unit will be initially a cash shell considering a number of deals across Europe.

Thalassa said the subsidiary will provide the group with more flexibility after the UK leaves the European Union next March, allowing it to continue to trade across the bloc.

READ: All AIM stocks overvalued says submersibles maker Thalassa

The Luxembourg listing will allow it to raise additional funds for potential deals in Europe.

“The board consider Luxembourg, lying within the EU, to be an attractive location both geographically and for the transactions under consideration,” the group said.

In morning trading, shares edged down 3.2% to 91p. 

Quick facts: Thalassa Holdings Limited

Price: 67 GBX

Market: AIM
Market Cap: £10.94 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Animoca Brands launches Addams Family mobile game and leads investment round...

Animoca Brands Corporation Limited (ASX:AB1) chairman and co-founder Yat Siu updates Proactive on the launch of the official mobile game for Metro Goldwyn Mayer Studios (MGM) film of “The Addams Family”. The chairman also updates the market on entering into a subscription agreement with Sky...

3 hours, 1 minute ago


Holding(s) in Company

2 weeks, 2 days ago

Share Buy-Back

2 weeks, 3 days ago

Holding(s) in Company

4 weeks, 1 day ago

Holding(s) in Company

on 14/10/19

Share Buy-Back

on 14/10/19

LSR Announcement

on 27/9/19

2 min read