RE: Be aware7 Jan 2025 01:03
Evening 1pencil, that figure is from the Interims and is 6 months out. It was much higher in the previous year and will have undoubtedly changed (probably very recently).
"At 30 June 2024, the market value of investments under CFD was £752,578 (30 June 2023:
£4,265,710), with a leverage of £752,937"
It is clear from all they write that they dabble in CFD's and their FY2023 accounts show that they are experienced in dealing with CFD and have openly declared their CFD's in the past, but less so recently. That I can understand as they got lambasted for prudently closing previous ones in profit and effectively part selling their THG holding previously.
For instance, from their 30th March 23 update when the share price was circa 69p here is what they updated.
"THG investment update
Kelso is pleased to announce a net purchase of a beneficial interest in an additional 2.4 million shares in THG, which takes Kelso's total beneficial interest, consisting of ordinary shares and CFDs, in THG to 7.4 million shares."
Now given they have been virtually calling for THG to Premium list from almost their very first investment and at every update since and constantly advising on the rationale for this in bringing in Index benchmarking and tracking funds, and add to that the fact that they will also know what a "non-dilutory placing" should actually mean, it would not surprise me in the slightest if they have opened several large CFD's in recent days.
One might actually have been equivalent to that large circa 1.5M share trade I alluded to on Friday around 42p.
Their average equity holding btw in THG, having increased their holding by 50% in the Placing, was actually 7.5m shares in THG, at an average in price of 57.5p.
Here is what they said shortly after the ESCC RNS was issued.
"Kelso is pleased that THG Plc is as of this morning on the main index of the London Stock Exchange. This is the Index that most UK active funds are benchmarked against and the index most relevant for passive investors. THG should be included in the FTSE 250 after the next index changes in March 2025.
Transfer to ESCC Category | THG Plc"
Hopefully a bit more clarity. I'll have a delve on the listing fees for Selkirk Group when I'm a bit fresher tomorrow.
Sign In
Follow the stocks
