Capital for Colleagues plc Portfolio Update
16 May 2016 - 2:00PM
UK Regulatory
TIDMCFCP
Capital for Colleagues plc / EPIC: CFCP / Market: ISDX / Sector: Investment
16 May 2016
CAPITAL FOR COLLEAGUES PLC
('Capital for Colleagues' or the 'Company')
PORTFOLIO UPDATE
Capital for Colleagues, the investment vehicle focused on opportunities in the
Employee Owned Business ('EOB') sector, is pleased to announce an update
regarding its existing investee company, Ecomerchant Natural Building Materials
Limited ("Ecomerchant").
Ecomerchant, a specialist supplier of natural and environmentally sustainable
building materials to the UK housing market has agreed to acquire Eco Systems
Distribution Limited ("Eco Systems"). Based in, East Sussex, Eco Systems
distributes recycled plastic roof slates and recycled plastic composite
decking, principally in the UK and Europe. Eco System's customers range from
small, independent roofing companies to multinational construction and design
companies.
In order for Ecomerchant to acquire Eco Systems and settle certain of its
obligations, Capital for Colleagues has subscribed for GBP150,000 of loan notes
issued by Ecomerchant. The loan notes, which are secured on Ecomerchant's
assets by way of mortgage debenture and cross-guaranteed by Eco Systems, bear
interest at an appropriate commercial rate and are repayable in 2020.
John Eckersley, Chief Executive of Capital for Colleagues, said "We are
extremely pleased to be able to assist one of our existing investee partners
with this next step in their development. This illustrates well how we aim to
be an ongoing provider of capital to EOBs, thus enabling them to react to
market opportunities at short notice and thereby enhancing value not just for
our own shareholders but for their own employee shareholders too."
The Directors of the Company are responsible for the contents of this
announcement.
**ENDS**
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC 0161 233 4891
Richard Bailey, Chairman
John Eckersley, Chief Executive
PETERHOUSE CORPORATE FINANCE LIMITED 020 7469 0930
Mark Anwyl
Duncan Vasey
Notes
Capital for Colleagues is an investment company focused on the Employee Owned
Business ('EOB') sector. The Company has a clear strategy aimed at investing
in, advising and growing established, mainly UK-based, EOBs as well as
assisting companies which are looking to launch employee ownership schemes,
providing the capital and advice to help them achieve their objectives.
Capital for Colleagues 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 identify and
capitalise on EOB-focused investment opportunities.
END
(END) Dow Jones Newswires
May 16, 2016 09:00 ET (13:00 GMT)