REG - Kelso Group Holdings - Comment on THG Plc

Kelso groupAnnouncement

10/10/2024 17:00

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RNS Number : 7686H  Kelso Group Holdings PLC  10 October 2024

10 October 2024

 

Kelso Group Holdings Plc

("Kelso" or the "Company")

Comment on THG Plc

 

Kelso, the main market listed acquisition vehicle, notes the announcement from
THG Plc ('THG') at 4.52pm today regarding the early advancement of its plans
to demerge Ingenuity and the associated placing. THG is Kelso's second largest
shareholding.

Kelso believes in Ingenuity's model and its long term future and that the
demerger will be highly beneficial for Ingenuity, as well as for THG Beauty
and MyProtein as the remaining parts of THG. Kelso believes that the value of
the two remaining businesses are each worth more than the current market
capitalisation of THG.

Kelso is also supportive of the placing announced today and pleased with the
board's speed of execution and decisive action. Kelso intends to participate
in the placing.

 

For further information please contact:

 Kelso Group Holdings plc                                  +44 (0) 75 4033 3933
 John Goold, Chief Executive Officer

 Mark Kirkland, Chief Financial Officer

 Jamie Brooke, Chief Investment Officer
 Zeus (Broker)                                             +44 (0) 20 3829 5000
 Nick Cowles, Ed Beddows, John Moran (Investment Banking)

 Ben Robertson (Corporate Broking)
 Camarco                                                   +44 (0) 20 3757 4980
 Billy Clegg, Tom Huddart

 

About Kelso

Kelso was established in November 2022 to identify, engage and unlock trapped
value in the UK stock market.  Kelso's strategy is to invest in situations
where it believes there is an anomaly between the intrinsic value and
prospects of a company and its stock market valuation.  Kelso will, in
particular, look for situations where it believes the sum of the parts of a
business is greater than the current value. The Kelso team is led by an
experienced and well-invested Board and management team with a track record of
identifying and creating value in the UK small and mid-cap public markets.
There may be instances where Kelso itself could be used as a vehicle by an
undervalued company to spin off a subsidiary into its own listing. The board
of Kelso owns 20.5% of the equity having invested in each of the last three
fundraising rounds.

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