Kelso Group Holdings PLC - London-headquartered investment company - Updates its shareholders on its investment in THG PLC, following the publication of THG’s half-year results on Thursday. Says that while it was ‘generally pleased’ with the operational and financial performance of THG, the lack of strategic update was disappointing. Notes there is no mention of plans for the medium-term structure of the business or regarding its move to the Premium Segment of the London Stock Exchange, adding: ‘These matters are important to shareholders; we think that today’s material share price fall is due to the lack of clarity on these plans.’

‘Shareholders would appreciate an update regarding the potential move to the Premium Segment. Most UK active fund managers and index funds are benchmarked or indexed against the Premium Segment and so do not consider shares listed on the Standard List, as THG currently is.’

Further, Kelso argues that the ‘true value’ of THG will only be realised when THG Nutrition is divested, albeit supported by Ingenuity. Says that THG Nutrition has a value significantly more than its current market capitalisation, meaning now is the time to be exploring the strategic options around this business.

Current stock price: 2.29 pence, down 6.5% on Thursday

12-month change: up 21%

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