Kelso Group Holdings PLC Result of AGM and Placing Update (5290A)
24 May 2023 - 9:00PM
UK Regulatory
TIDMKLSO
RNS Number : 5290A
Kelso Group Holdings PLC
24 May 2023
24 May 2023
Kelso Group Holdings Plc ("Kelso" or the "Company")
Result of AGM and Placing Update
Kelso, the main market listed investment company, announces that
all resolutions put to shareholders at the Company's Annual General
Meeting ("AGM") held earlier today were duly passed.
Further to the announcements published on 30 March 2023, 27
April 2023 and 12 May 2023, in addition to the approval of certain
resolutions at the AGM, the Placing is now only subject to
Admission becoming effective, which will occur on 31 May 2023, as
previously announced.
Capitalised terms used in this announcement (this
"Announcement") shall have the meanings ascribed to them in the
announcement dated 27 April 2023.
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 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 GBP3.0 million 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.
END
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