REG - Kelso Group Holdings - NED Appointments to The Works

Kelso groupAnnouncement

14/02/2024 07:15

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RNS Number : 0424D  Kelso Group Holdings PLC  14 February 2024

14 February 2024

 

Kelso Group Holdings Plc ("Kelso" or the "Company")

NED Appointments to The Works

 

Kelso, the main market listed acquisition vehicle, notes the following
announcement from TheWorks.co.uk plc ("The Works") today regarding changes to
its Board.

 

The Works, the family-friendly value retailer of books, arts and crafts,
stationery, toys and games, announces the appointment of John Goold and Mark
Kirkland as Non-Independent Non-Executive Directors effective immediately.

John Goold is Chief Executive Officer and Mark Kirkland is Chief Financial
Officer at Kelso Group Holdings plc, an investment company that seeks to
identify, engage and unlock trapped value in the UK stock market. Kelso have
been investors in The Works since September 2023 and on 30 October 2023
announced a holding in The Works of 5.1%. John and Mark will become members of
the Board but, as Non-Independent Directors, will not join any committees.
Their focus will be on all matters relating to shareholder value.

The Works has consulted with certain of its major shareholders, who are
supportive of these appointments.

Carolyn Bradley, Chair of The Works, said: "I am pleased to welcome John and
Mark to the Board following Kelso's investment in The Works last year. They
bring extensive corporate and operational experience at Board level and will
be an asset to The Works as we continue to deliver our 'Better, not just
Bigger' strategy. We are grateful for their ongoing support and look forward
to working together to drive shareholder value."

John Goold and Mark Kirkland jointly stated: "We have long believed that The
Works has a strong customer proposition, a broad range of products with plenty
of appeal and an important focus on affordability. By joining the Board we can
bring our experience, particularly working with listed small cap businesses,
to drive shareholder value. We are supportive of both management and the
strategic direction of the business and look forward to helping to restore the
intrinsic valuation of The Works, which we believe is much higher than the
current share price reflects."

Biographies:

John Goold is Chief Executive Officer at Kelso Group Holdings plc. He
qualified as a chartered accountant in London with Touche Ross in 1996 before
a 25-year career in the City raising growth capital and advising small and mid
cap companies. John initially started in corporate finance before moving into
equity sales and corporate broking where he spent most of his career advising
smaller listed companies on stock market issues. During his career, John has
helped raise over £5.0 billion for his clients much of which was while he was
Chief Executive of Zeus from 2012 to 2021. He is currently a non-executive
director of Oncimmune Holdings plc and Boohoo Group plc.

Mark Kirkland is Chief Financial Officer at Kelso Group Holdings plc. He
qualified as a chartered accountant with Price Waterhouse Coopers in London
and has gained extensive corporate experience gained over 30 years having held
numerous senior roles in public and private companies. Mark's initial career
was in corporate finance predominantly with UBS. Mark has been CFO of numerous
public and private companies and latterly was CEO of Delin Property, a pan
European Logistics developer, investor and manager. He is currently a
Non-Executive Director at Strix Group plc and AEW UK REIT plc and previously
an adviser to DP World.

 

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 (Investment Banking)

 Ben Robertson (Corporate Broking)

 

About Kelso

Kelso was established in 2022 to identify, engage and unlock trapped value in
the UK stock market. Kelso's strategy is to invest in situations where 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.

 

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