REG - Kelso Group Holdings - Listing Rule 9.6.14(1) announcement

Kelso groupAnnouncement

01/10/2024 08:00

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RNS Number : 4161G  Kelso Group Holdings PLC  01 October 2024

1 October 2024

 

Kelso Group Holdings Plc

("Kelso" or the "Company")

LR 9.6.14(1) announcement

 

Kelso, the main market listed acquisition vehicle, announces, in accordance
with Listing Rule 9.6.14(1) and further to today's announcement by The
Works.co.uk plc ("The Works"), that John Goold and Mark Kirkland, the Chief
Executive Officer and Chief Financial Officer of the Company respectively,
have decided to step down from their roles as Non-Independent Non-Executive
Directors of The Works with effect from today.

John Goold and Mark Kirkland said: "We joined The Works Board on a temporary
basis to provide additional guidance as the business underwent a period of
change. Since then, significant progress has been made, namely transferring
from the Main Market to AIM and strengthening the leadership team. We are
content to step down now, knowing that the company is on a path to growth and
with full confidence in the management team."

 

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)

 

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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