Capital for Colleagues Plc Quarterly Investment Update
12 January 2024 - 6:01PM
UK Regulatory
TIDMCFCP
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials
12 January 2024
CAPITAL FOR COLLEAGUES PLC
(`Capital for Colleagues', `C4C' or the `Company')
QUARTERLY INVESTMENT UPDATE
Capital for Colleagues, the investment vehicle focused on opportunities in the
Employee Owned Business (`EOB') sector, announces an investment update in
respect of the quarter ended 30 November 2023.
Key Statistics for the quarter:
· Portfolio comprised of 14 unquoted EOBs at the end of the quarter (31 August
2023: 14)
· Net Asset Value (`NAV') of £15,103,155 (31 August 2023: £15,162,569)
· NAV per share decreased, marginally, to 81.67 pence in the quarter (31
August 2023: 81.99 pence per share)
Key Developments in the quarter:
· The Company led a funding round of £1.5 million for Bright Ascension Limited
(BAL) in October 2023. C4C invested a further £750,000 in this round, alongside
Bill Ainscough, a non-executive Director of the Company, and TJ Morris Limited,
a significant shareholder in C4C. The committed funds were initially provided to
BAL as loans, which will in due course be reclassified as loan notes convertible
into ordinary shares in BAL. The loan notes will be convertible within the next
three years, at a value dependent on the achievement of key milestones by BAL.
· During the period, C4C has also made follow on loans of £300,000 to three
investees to support their working capital requirements.
As at 30 November 2023, the Company had cash balances of £1,666,571. The Company
has no debt.
Further information on the Company's investment portfolio is set out below.
UNQUOTED INVESTMENTS
As at 30 November 2023, the Company's portfolio of unquoted investments was
valued at £13,697,319 and comprised 14 companies operating across a range of
sectors, as set out below:
Industrials
(value:
£5,986,264; 43.70%
of Portfolio)
Construction & Support Services
Materials
Hire and Supplies Limited
Ecomerchant
Natural Building Flow Control Company Limited
Materials Limited
The Security Awareness Group Limited
Carpenter Oak
Group Limited Engineering
TPS Investment Morris Commercial Limited
Holdings Limited
Industrial
Transportation
Place 2 Place
Logistics Limited
Leisure & Travel
(value: £540,521;
3.95% of
Portfolio)
Recreational
Services
The Real Outdoor
Xperience Limited
Media (value:
£510,267; 3.73% of
Portfolio)
Exhibition Centres
The Homebuilding
Centre (Holdings)
Limited
Technology (value:
£6,660,267; 48.62%
of Portfolio)
Software &
Computer Services
EO MSP Holdings
Limited
Bright Ascension
Limited
Computer
Application
Services Limited
Craft Prospect
Limited
The loans and investments made by the Company to or in unquoted EOBs are aimed
at delivering equity-like returns. Each loan or investment is tailored to the
individual investee company's operating performance and specific working capital
needs.
The Directors believe that the unquoted EOBs in the Company's portfolio
currently generate total turnover of around £47.1 million (£46.2 million) per
annum and support approximately 345 (335) jobs.
Total Unquoted Investments (including short-term loans) as at 30 November 2023
Cost: £9,770,261
Valuation (including capitalised costs): £13,697,319
BASIS OF VALUATION
Each of the unquoted investments is included at the Directors' assessment of
fair value, in accordance with International Private Equity and Venture Capital
Guidelines.
Account is taken of any potential taxation liability in respect of the increase
in value of investments on a quarterly basis.
**ENDS**
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC 01985 201 980
Richard Bailey, Chairman
Alistair Currie, Chief Executive
John Lewis, Finance Director
PETERHOUSE CAPITAL LIMITED 020 7469 0930
Mark Anwyl
Capital for Colleagues
Capital for Colleagues is an investment company focused on the UK EOB sector.
The Company has a proven management team, with a wide network of contacts and
affiliates, as well as established access to investment opportunities, enabling
the Company to execute its strategy and capitalise on EOB-focused investment
opportunities. In addition, the Company educates and assists companies that are
looking to launch employee ownership schemes, advising them, amongst other
things, on how to secure investment and achieve their objectives.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as
defined in the European Union (Withdrawal) Act 2018).
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/capital-for-colleagues-plc/r/quarterly-investment-update,c3908306
END
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