Covington Advises WH Ireland Thalassa Holdings Placing

Covington Advises WH Ireland Thalassa Holdings Placing

April 18, 2013

LONDON, 18 April, 2013 — Covington & Burling LLP acted for WH Ireland, nominated adviser and broker to Thalassa Holdings Ltd, on a £5.4 million placing of ordinary shares for Thalassa Holdings. Thalassa Holdings Ltd, incorporated and registered in the British Virgin Islands and quoted on AIM, is a holding company with a focus on marine seismic operations.

The net proceeds of the placing are intended to be used to acquire additional seismic acquisition equipment, including further PMSS™ components, and provide the company with sufficient working capital during this period of rapid growth, whilst also broadening the institutional shareholder base of the company.

The London-based Covington team was led by corporate partner Natalie Walter with assistance from corporate associate Sarah Hoult.