Thalassa ups stake in Local Shopping REIT
AIM-listed Thalassa Holdings has acquired a bigger stake in The Local Shopping REIT (LSR).
FTSE AIM All-Share
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17:08 19/04/24
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Thalassa Holdings Ltd. (DI)
24.50p
16:45 19/04/24
The company said it acquired just over 10.4m shares in LSR on Thursday, bringing its total holding to just under 12.9m shares or a 15.6% interest.
Founded in 2005 with the objective of building a portfolio of properties and letting units in the convenience shopping market, LSR’s reported net assets amounted to £35.3m at the end of March 2016.
LSR was floated on the London Stock Exchange in 2007.
Thalassa chairman Duncan Soukup said: “The board of Thalassa is pleased to announce the acquisition of a material holding in LSR at what the board consider a good entry point."
At 1026 BST, Thalassa shares were down 6.3% to 37.50p.