TIDMKLSO

RNS Number : 7133F

Kelso Group Holdings PLC

12 July 2023

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

Trading Update

Kelso, the main market listed investment company, is pleased to announce its trading results for the six months to 30 June 2023. As announced on 19 January 2023 and 27 April 2023, Kelso has raised, in aggregate, GBP6.0 million of new money before expenses in H1 2023 in two equal tranches, placed at 2.0p and 2.5p, respectively. Almost half of these funds, alongside some leverage from CFDs, have been used to purchase shares in THG Plc ("THG"). Kelso currently holds 8,000,000 shares in THG by way of ordinary shares and CFDs, at an average cost price of approximately 61p.

On 30 June 2023, THG's share price closed at 81.5p, generating an unrealised gross gain of GBP1.7 million pre-tax and pre-performance fee. This represents approximately 35% increase to our overall cost price, and a return on cash investment of c.58% pre-tax and pre-performance fee return. As at 30 June, the estimated NAV (after accrued corporation tax and performance fee) was GBP7.2 million, including GBP3.1 million of cash, equating to 2.3p per share. The closing price of THG as at 11 July 2023 was 93.9p, equating to a Kelso NAV of c.2.6p.

The interim results are expected to be announced by the end of September 2023. The board of Kelso has drawn no salaries during the period and Kelso has no property costs. The directors own c.21% of the Company.

The UK small and mid-cap listed environment continues to present many opportunities for Kelso. We continue to use our network to source and validate opportunities where we believe we can help other investors realise value.

Sir Nigel Knowles, Kelso's chairman commented:

'Kelso has had a solid start to its stock market life in 2023 since relaunch. We are building Kelso for the long term through an extremely focussed and carefully considered investment approach. With c21% of the share register held by the Board we are very much aligned with our shareholders.'

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 November 2022 to identify, engage and unlock trapped value in UK listed companies. Through active engagement and alignment with other stakeholders, Kelso aims to effect change where existing shareholders are often unable or unwilling to do so themselves. Kelso is run by John Goold (CEO), Mark Kirkland (CFO and Strategy) and Jamie Brooke (CIO) each of which have over 25 years of experience in the quoted and unquoted UK small and mid-cap market.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFFFIIDAILLIV

(END) Dow Jones Newswires

July 12, 2023 02:00 ET (06:00 GMT)

Kelso (LSE:KLSO)
Gráfica de Acción Histórica
De Abr 2024 a May 2024 Haga Click aquí para más Gráficas Kelso.
Kelso (LSE:KLSO)
Gráfica de Acción Histórica
De May 2023 a May 2024 Haga Click aquí para más Gráficas Kelso.