Source - RNS
RNS Number : 0764M
Thalassa Holdings Limited
10 October 2016

10 October 2016



Thalassa Holdings Ltd


(Reuters: THAL.L, Bloomberg: THAL:LN)


("Thalassa" or "the Company")


Update of investment in Papua Mining plc ("Papua")


Further to the announcement of 2 September 2016, Thalassa is pleased to announce that all resolutions put to the shareholders of Papua at the general meeting held on 7 October 2016 were passed.


Consequently, Thalassa's investment of £400,000 for 40,000,000 new ordinary shares of Papua has been approved.


Papua has raised a total of £512,000 through the issue of 40,000,000 new ordinary shares to Thalassa and 11,200,000 new ordinary shares to existing shareholders.  As a result, Thalassa's shareholding will represent 26.7% of the enlarged share capital of Papua.


Investor Enquiries:


Thalassa Holdings Ltd

      Duncan Soukup, Chairman                                                     +33 (0)6 78 63 26 89


WH Ireland Limited (Nominated Adviser and Broker)

      Chris Fielding, Head of Corporate Finance                            +44 (0)207 220 1650



Press Enquiries:


Square1 Consulting (Public Relations)


David Bick                                                                                       +44 (0)207 929 5599  




This information is provided by RNS
The company news service from the London Stock Exchange