Capital for Colleagues Plc Quarterly Investment Update

 
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 
 
 

(END) Dow Jones Newswires

January 12, 2024 02:01 ET (07:01 GMT)