LONDON - Alina Holdings PLC (Reuters: ALNA.L, Bloomberg: ALNA:LN) today announced its intention to participate in a share placement with Thalassa Holdings Ltd. The company has submitted a confidential bid to acquire new ordinary shares in Thalassa as part of a placement process, with the caveat that there is no certainty the bid will be accepted.
The transaction is contingent upon the sale of Alina's existing property assets located in Brislington and Hastings. The terms also stipulate that the shares, both from the placement and the subsequent subscription, must be admitted to the Equity Shares (Transition) Category of the Official List of the Financial Conduct Authority (FCA) and to the London Stock Exchange (LON:LSEG) for trading.
The board of Alina, excluding shared director Duncan Soukup who recused himself due to the related party nature of the transaction, has expressed that the deal is fair and reasonable for the company and its shareholders. A prospectus by Thalassa is expected to be published in relation to the placement and subscription.
The proposed transaction is classified as a related party transaction under DTR 7.3 because of the cross shareholdings and shared directorship between Alina and Thalassa. As such, specific disclosure is required to ensure transparency and compliance with market abuse regulations.
This announcement contains inside information as designated by the UK Market Abuse Regulation, which is part of UK domestic law following the European Union (Withdrawal) Act 2018.
The information for this report is based on a press release statement.
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