(‘Capital for Colleagues’ or the ‘Company’)
QUARTERLY INVESTMENT UPDATE
Key Statistics for the quarter:
Portfolio comprised of 16 unquoted EOBs at the end of the quarter (
31 May 2020: 16)
Net Asset Value (‘NAV’) of £7,956,650 (
31 May 2020: £7,553,434)
NAV per share increased to
51.53 pencein the quarter ( 31 May 2020: 48.92 penceper share)
Key Developments in the quarter:
The Company sold its investment in portfolio company
Merkko Group Limited(‘Merkko’) for consideration of £400,000, a 100% profit on the original investment. Capital for Colleagueshas used £150,000 of the proceeds from the sale to subscribe for ordinary shares in Merkko, representing approximately 10% of that company’s equity capital
Further information on the Company’s investment portfolio is set out below.
31 August 2020, the Company’s portfolio of unquoted investments was valued at £8,041,291 and comprised 16 companies operating across a range of sectors, as set out below:
|Industrials (value: £4,053,388; 50.40% of Portfolio)|
|Construction and Materials
Leisure & Travel (value: £258,000; 3.21% of Portfolio)
Media (value: £586,059; 7.29% of Portfolio)
Technology (value: £3,143,844; 39.10% of Portfolio)
|Software & Computer Services
The loans and investments made by the Company to 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 £98.0 million per annum and support approximately 855 jobs.
Total Unquoted Investments (including short term loans) as at
Valuation (including capitalised costs): £8,041,291
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.
Appropriate valuation adjustments have also been made to reflect the impact of Covid-19 and the consequential effect on the
The Board continues to believe that the Company’s adherence to Employee Ownership principles will stand our investee businesses in good stead during the weeks and months ahead and leave them in good shape for the anticipated return to normal business in due course.
However, the Company will continue to monitor our investee companies in light of the changing situation, including considering any further impact upon the value of our portfolio of investments.
The Directors of the Company are responsible for the contents of this announcement.
For further information, please visit www.capitalforcolleagues.com or contact:
01985 201 980
|PETERHOUSE CAPITAL LIMITED
||020 7469 0930|
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a