REG - Kelso Group Holdings - THG Investment Update

Kelso groupAnnouncement

17/04/2023 12:00

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RNS Number : 4503W  Kelso Group Holdings PLC  17 April 2023

17 April 2023

 

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

 

THG Investment Update

 

Kelso, the main market listed investment company, notes the announcement from
THG plc ("THG") at 10.21 am today stating that THG is currently in receipt of
a highly preliminary and non-binding indicative proposal from Apollo Global
Management Inc. on behalf of certain of its affiliated funds, to acquire the
entire issued and to be issued share capital of THG. Kelso will monitor this
situation closely and update Kelso shareholders accordingly.

 

Kelso notes that its only significant asset is its investment in THG and draws
your attention to its previous announcements detailing this position.

 

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, Matt Hogg (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. The company completed a fundraising of £3m in January 2023. Kelso
believes that the current market conditions are such that there are situations
where UK listed companies' valuations are not appropriately matched to their
underlying intrinsic value. 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. Such a transaction would undoubtedly constitute a reverse
takeover for Kelso.

 

 

 

 

 

 

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