(‘Capital for Colleagues’ or the ‘Company’)
HALF YEARLY INVESTMENT UPDATE
Key Statistics for the six months:
-- Portfolio comprised of 17 unquoted EOBs at the end of the six months (31
August 2018: 17) -- Net Asset Value (‘NAV’) of GBP 7,419,833( 31 August 2018: GBP 6,816,878) -- NAV per share increased by more than 8.8% to 48.05 pence( 31 August 2018: 44.15 penceper share) Material developments in the six months:
-- A further loan of
GBP 150,000was made to TG Engineering Limited(‘TGE’), to provide it with additional working capital. TGE operates from a 20,000 sq. ft factory in Ferndown, near Poole in Dorset, where it manufactures precision machined, extremely high tolerance, steel and aluminium components for use in the aerospace and scientific industries. Capital for Colleaguescurrently has a 35% equity interest in TGE and outstanding loans of GBP 775,000to that company.
Commenting on the investment update,
“I am delighted to be able to report a robust investment performance as I pass my executive responsibilities to
Further information on the Company’s investment portfolio is set out below.
Industrials (value: GBP, 4,782,576; 66.30% of Portfolio) Construction and Materials Support Services
Civils Store Limited Anthesis Consulting Group Limited Ecomerchant Natural Building Materials Cotswold Valves LimitedLimited Hire and Supplies Limited Employee Owners Group Limited Office for Public Management Limited Merkko Group Limited Flow Control Company Limited TPS Investment Holdings LimitedCastlefield Corporate Advisory Partners LimitedEngineering Industrial Transportation TG Engineering LimitedPlace 2 Place Logistics LimitedMedia (value: GBP 443,619; 6.15% of Portfolio) Exhibition Centres The Homebuilding Centre ( Holdings) Limited Technology(value: GBP 1,987,520; 27.55% of Portfolio) Software & Computer Services 2C Services Limited Bright Ascension Limited Computer Application Services Limited
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
Total Unquoted Investments (including short term loans) as at
Valuation (including capitalised costs):
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. Nevertheless, as a matter of prudence, the Directors have provided for a general provision equivalent to 2 per cent. of the value of the unquoted investments for possible impairment. The Directors do not, however, believe that any general provision impairment is necessary in respect of any of the Company’s current unquoted investments.
Account is taken of any potential taxation liability in respect of the increase in value of investments on an annual basis, as at the Company’s year-end.
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 PLC0161 464 3260 Richard Bailey, Chairman John Eckersley, Chief Executive PETERHOUSE CAPITAL LIMITED 020 7469 0930 Mark Anwyl Duncan Vasey
The Company’s joint venture,
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