Kelso Group Holdings PLC THG Investment Update (4503W)
17 April 2023 - 12:52PM
UK Regulatory
TIDMKLSO
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 GBP3m 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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