(‘Capital for Colleagues’ or the ‘Company’)
QUARTERLY INVESTMENT UPDATE
Key Statistics for the quarter:
-- Portfolio comprised of 17 unquoted EOBs at the end of the quarter (31
May 2018: 18) -- Net Asset Value (‘NAV’) of GBP 6,816,878(: GBP 6,438,680) -- NAV per share increased by more than 5% to 44.15 pence( 31 May 2018: 41.73 penceper share) Material developments in the quarter: -- Short-term loans of GBP 100,000were provided to each of Computer Application Services Limitedand Flow Control Company Limited; a short-term loan of GBP 110,000was repaid by Hire and Supplies Limited. -- The Company wrote off its GBP 133,654investment in CSM Site Supplies Limited, a wholly owned subsidiary of Ecomerchant Natural Building Materials Limited, after CSM Site Supplies Limitedwas placed into voluntary liquidation. -- The Company’s holding of ‘A’ Ordinary Shares in Computer Application Services Limitedhas been revalued upwards to GBP 750,000as at 31 August 2018, in light of strong operating performance and markedly improved prospects at the company. Further information on the Company’s investment portfolio is set out below. UNQUOTED INVESTMENTS As at 31 August 2018, the Company’s portfolio of unquoted investments was valued at GBP 6,319,582and comprised 17 companies operating across a range of sectors, as set out below:
GBP 4,605,720; 72.88% 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 LimitedRetail (value: GBP 455,792; 7.21% of Portfolio) General Retailers The Homebuilding Centre ( Holdings) Limited Technology(value: GBP 1,258,070; 19.91% 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