Capital for Colleagues plc - Quarterly Investment Update
Announcement provided byCapital for Colleagues plc · CFCP
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials
13 January 2023
CAPITAL FOR COLLEAGUES PLC
(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)
QUARTERLY INVESTMENT UPDATE
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, announces an investment update in respect of the quarter ended 30 November 2022.
Key Statistics for the quarter:
- Portfolio comprised of 13 unquoted EOBs at the end of the quarter (31 August 2022: 13)
- Net Asset Value (‘NAV’) of £14,270,783 (31 August 2022: £13,774,147)
- NAV per share increased to
77.17 pencein the quarter (31 August 2022: 74.49 penceper share)
Key Developments in the quarter:
- As part of a funding round and capital reorganisation at Hire and Supplies Limited (‘H&S’), C4C sold its holding of ‘A’ ordinary shares in H&S for cash consideration of £0.97 million (original cost in 2016 of £0.30 million).
- Alongside its disposal of the ‘A’ ordinary shares, C4C subscribed £1.21 million for new ordinary shares in H&S as part of the funding round.
- Following these transactions, Capital for Colleagues is interested in 20.76% of H&S’s enlarged share capital
The Company currently has cash balances of £3.337 million. The Company has no debt.
Further information on the Company’s investment portfolio is set out below.
As at 30 November 2022, the Company’s portfolio of unquoted investments was valued at £10,747,253 and comprised 13 companies operating across a range of sectors, as set out below:
|Industrials (value: £4,543,768; 42.27% of Portfolio)|
|Construction and Materials
Ecomerchant Natural Building Materials Limited
Employee Owners Group Limited
TPS Investment Holdings Limited
Place 2 Place Logistics Limited
Hire and Supplies Limited
Flow Control Company Limited
The Security Awareness Group Limited
Leisure & Travel (value: £556,869; 5.19% of Portfolio)
South Cerney Outdoor Limited
Media (value: £461,323; 4.29% of Portfolio)
The Homebuilding Centre (Holdings) Limited
Technology (value: £5,185,293; 48.25% of Portfolio)
|Software & Computer Services
2C Services Limited
Bright Ascension Limited
Computer Application Services Limited
Craft Prospect Limited
The loans and investments made by the Company to or in 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 £45.6 million (£45.3 million) per annum and support approximately 325 (322) jobs.
Total Unquoted Investments (including short-term loans) as at 30 November 2022
Valuation (including capitalised costs): £10,747,253
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.
For further information, please visit www.capitalforcolleagues.com or contact:
|CAPITAL FOR COLLEAGUES PLC
Richard Bailey, Chairman
Alistair Currie, Chief Executive
John Lewis, Finance Director
|01985 201 980|
|PETERHOUSE CAPITAL LIMITED
|020 7469 0930|
Capital for Colleagues
Capital for Colleagues is an investment company focused on the
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).
View more ...