Capital for Colleagues plc - Portfolio Update - TPS Investment Holdings PR Newswire

Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment

29 July 2022

CAPITAL FOR COLLEAGUES PLC

(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)

PORTFOLIO UPDATE - TPS INVESTMENT HOLDINGS LIMITED

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce that it has increased its shareholding in portfolio company, TPS Investment Holdings Limited (‘TPS’).

TPS sources, markets and distributes a specialist range of pipes, valves, fittings and other associated products for the public utility markets throughout the Republic of Ireland and Northern Ireland, with particular focus on the water market.

Capital for Colleagues has acquired an additional 962 ordinary shares in TPS for cash consideration of £500,240. The shares were acquired from the 2 executive directors of TPS. Following this acquisition, C4C is interested in a total of 2,212 ordinary shares in TPS, representing 27.6% of TPS’ issued equity capital, with the balance of 72.4% continuing to be held by executive management at TPS. The Company’s interest in TPS is valued at £1.202m.

Alistair Currie, Chief Executive of Capital for Colleagues, said:

‘We are pleased to have increased our interest in TPS, a company we have supported since 2014. This new investment further aligns our interests with those of TPS’ management and employees.

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
Richard Bailey, Chairman
Alistair Currie, Chief Executive
John Lewis, Director

01985 201 980
PETERHOUSE CAPITAL LIMITED
Mark 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).