Capital for Colleagues plc / EPIC: CFCP / Market:
Aquis / Sector:
Financials
16 August
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 31 May
2024.
Key Statistics for the
quarter:
-
Portfolio comprised of 15 unquoted EOBs at
the end of the quarter (29 February
2024: 15)
-
Net Asset Value (‘NAV’) of £16,249,689
(29 February 2024: £16,147,944)
-
NAV per share has increased to 87.87 pence in the quarter (29 February 2024 : 87.32
pence per
share)
-
A Dividend of 2.00
pence per share was paid in the
quarter.
Key Developments in the
quarter:
-
Capital for Colleagues completed a partial
disposal of its holding in Computer Application Services Limited to Bill Ainscough, a non-executive Director of the
Company, and TJ Morris Limited, a significant shareholder in C4C,
in equal proportions, for total cash consideration of
£256,960.
-
During the period, C4C also made follow on loans
of £97,120 to three investee companies to support their working
capital requirements.
As at 31 May
2024, the Company had cash balances of £842,815. The Company
has no debt.
Further
information on the Company’s investment portfolio is set out
below.
UNQUOTED
INVESTMENTS
As at 31 May 2024, the Company’s portfolio of unquoted
investments was valued at £15,619,808
and comprised 15 companies
operating across a range of sectors, as set out
below:
|
Industrials
(value: £7,308,496; 46.79% of
Portfolio) |
|
|
Construction &
MaterialsEcomerchant
Natural Building Materials
LimitedCarpenter Oak
Group LimitedTPS Investment
Holdings
LimitedIndustrial
TransportationPlace
2 Place Logistics
Limited |
|
Support
ServicesHire
and Supplies
LimitedFlow Control
Company
LimitedThe
Security Awareness Group
LimitedRapid Retail
LimitedEngineeringMorris
Commercial Limited |
|
|
Leisure & Travel
(value: £548,464 3.51% of
Portfolio)Recreational
ServicesThe
Real Outdoor Xperience Limited
Media (value: £454,807; 2.92% of
Portfolio) |
|
|
Exhibition
CentresThe Homebuilding
Centre (Holdings)
Limited |
|
|
|
Technology (value: £7,308,041; 46.78%
of Portfolio) |
|
|
Software &
Computer
ServicesBright
Ascension
LimitedComputer
Application Services
LimitedCraft Prospect
LimitedEO MSP Holdings
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 £53.0million (£49.7 million)
per
annum and support approximately 360 (335) jobs.
Total Unquoted
Investments (including short-term loans) as at 31 May
2024
Cost: £9,828,770
Valuation
(including capitalised costs): £15,619,808
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
PLCRichard Bailey,
ChairmanAlistair Currie,
Chief
ExecutiveJohn
Lewis, Finance
Director |
01985 201
980 |
|
PETERHOUSE CAPITAL
LIMITEDMark
Anwyl |
020 7469
0930 |
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).
