(‘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 (29
February 2020: 18) -- Net Asset Value (‘NAV’) of £7,553,434 ( 29 February 2020: £7,747,343 ) -- NAV per share decreased to 48.92 pencein the quarter ( 29 February 2020: 50.17 penceper share) Further information on the Company’s investment portfolio is set out below. UNQUOTED INVESTMENTS As at 31 May 2020, the Company’s portfolio of unquoted investments was valued at £7,781,096 and comprised 16 companies operating across a range of sectors, as set out below:
Industrials (value: £3,848,687; 49.47% of Portfolio) Construction and Materials Support Services
Civils Store Limited Anthesis Consulting Group Limited Ecomerchant Natural Building Materials Hire and Supplies LimitedLimited Office for Public Management Limited Employee Owners Group Limited Flow Control Company Limited Merkko Group Limited TPS Investment Holdings LimitedIndustrial Transportation Place 2 Place Logistics LimitedLeisure & Travel (value: £250,000; 3.21% of Portfolio) Recreational Services South Cerney Outdoor LimitedMedia (value: £558,160; 7.17% of Portfolio) Exhibition Centres The Homebuilding Centre ( Holdings) Limited Technology(value: £3,124,249; 40.15% of Portfolio) Software & Computer Services 2C Services Limited Bright Ascension Limited Computer Application Services Limited The Security Awareness Group Ltd
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 £103 million per annum and support approximately 865 jobs.
Total Unquoted Investments (including short term loans) as at
Valuation (including capitalised costs): £7,781,096
APPOINTMENT OF AUDITORS
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:
CAPITAL FOR COLLEAGUES PLC01985 201 980 Richard Bailey, Chairman Alistair Currie, Chief Executive PETERHOUSE CAPITAL LIMITED 020 7469 0930 Mark Anwyl Allie Feuerlein
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