Capital for colleagues secures funding target

What are they looking to do with the funds?

Capital for Colleagues has received irrevocable commitments to subscribe for 424,151 New Ordinary Shares at a price of 59p per share pursuant to the Crowdfunding announced by the Company on 5 February 2015.

The Minimum Amount of GBP 0.25 million to be raised in the Crowdfunding has therefore been achieved.

The Crowdfunding is now into overfunding and will remain open for applications 23.59 on 5 March 2015, with the Company seeking to raise a maximum of GBP 1.3 million. Applications for New Ordinary Shares in the Crowdfunding may only be made via CrowdBnk’s platform at www.crowdbnk.com. Information about the level of funding achieved between now and the closing of the Crowdfunding will be available at www.crowdbnk.com. The Crowdfunding is being undertaken by CrowdBnk and Peterhouse Corporate Finance Limited.

The proceeds of the Crowdfunding will be used to make further investments in line with the Company’s investment strategy and to provide working capital for the Company’s ongoing operations.

John Eckersley, Chief Executive Officer of Capital for Colleagues, said: “I am delighted that we have reached the minimum target of GBP 0.25 million in our Crowdfunding. The funds we are raising will be used to make further investments and expand our presence in the rapidly growing employee ownership sector. With 10 days of our Crowdfunding still remaining, we look forward to building upon this achievement and welcoming additional new shareholders to our roster.”

The Directors of the Company are responsible for the contents of this announcement.

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