REG - Kelso Group Holdings Selkirk Group PLC - Oliver Hemsley Appointment & Selkirk IPO Update

Kelso groupAnnouncement

07/11/2024 07:00

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RNS Number : 2640L  Kelso Group Holdings PLC  07 November 2024

7 November 2024

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

IPO of Selkirk Plc ("Selkirk")

Appointment of Oliver Hemsley as chairman of Kelso's Advisory Board

Kelso, the main market listed acquisition vehicle, is pleased to announce that
Selkirk has completed its AIM IPO raising c.£7.5 million. Following Selkirk's
initial 'Intention to Float' announcement on 17 October 2024 as a single
company acquisition vehicle, it released a final Schedule One announcement on
4 November 2024 confirming that Selkirk was to IPO with a market
capitalisation of c.£10 million, with trading commencing today, Thursday 7
November 2024 ("Admission"). The Schedule One Announcement stated that Kelso
will own c.18% of Selkirk's share capital and included a list of significant
shareholders, being shareholders who will on Admission hold over 3% of
Selkirk's share capital. The Schedule One announcement can be found on the
following link, Schedule One Update
(https://www.londonstockexchange.com/news-article/market-news/schedule-one-update-selkirk-group-plc/16746619)

Kelso also announces today that Oliver Hemsley has agreed to become Chairman
of Kelso's newly established Advisory Board. The role of the Advisory Board
will be to help Kelso with its strategic growth ambitions and execution to
build the business and create shareholder value over the long term.

Oliver Hemsley set up Hemsley & Co Securities in 1990 to help provide
capital to the Lloyd's of London Insurance market and shortly afterwards
bought Raphael Zorn. These businesses combined to become Numis Securities
("Numis") in 2000 which Oliver ran as CEO for the next 17 years. Under
Oliver's leadership Numis became one of the preeminent brokers and advisers in
the UK market. His network and experience will be invaluable for the future
success of Kelso. Oliver also acts as a Senior Adviser to Panmure Liberum.

As part of this agreement Kelso will grant Oliver a warrant to subscribe for
10m Kelso shares with a 4.0p strike price, equal to the closing price on 6
November 2024, being the last business day prior to this announcement. These
warrants will be exercisable in tranches over the next 5 years.

Sir Nigel Knowles, Chairman, Kelso Group, said:

"I am delighted with the establishment of Selkirk, Kelso's first single
company acquisition vehicle. This is the next phase of Kelso's strategy
helping to identify, engage and unlock trapped value in the UK companies.

"I am also extremely pleased that Oliver Hemsley has agreed to support Kelso
with its strategic growth ambitions and execution in his new role of Chairman
of our Advisory Board. We believe that Kelso has a great opportunity over the
next few years to build a substantial business and create value for our
shareholders. Working with the best people is crucial to that strategy."

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, Louisa Waddell, 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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