Capital for Colleagues Plc - Portfolio Update - Morris Commercial Ltd

Capital for Colleagues plc / EPIC: CFCP / Market: Aquis  / Sector: Financials

Date: 4 March 2026

CAPITAL FOR COLLEAGUES PLC

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

PORTFOLIO UPDATE – MORRIS COMMERCIAL LTD

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce an update in respect of its investee company, Morris Commercial Ltd (‘Morris Commercial’ or ‘MCL’).

Morris Commercial is a   UK-based automotive engineering and manufacturing business, focused on innovation and the creation of desirable carbon neutral transport. Morris Commercial’s initial product, the Morris JE electric van, draws inspiration from the iconic Morris J-Type, arguably one of the most recognisable vans of the 1950s, and combines cutting-edge battery technology and lightweight carbon-fibre construction with classically inspired British design. Most components of the Morris JE are both recycled and recyclable, to further enhance its environmental appeal.

Capital for Colleagues is pleased to announce that the Company has successfully led a funding round of £1.5 million for MCL.

Capital for Colleagues is investing a further £500,000 in MCL, alongside the majority shareholder, Qu Li (MCL’s Chief Executive Officer), and another existing investor, both of whom are also investing £500,000.    

This investment round in MCL is by way of the issue of convertible loan notes in two tranches. The first tranche of £250,000 was paid by each of the three investors on completion, with the second tranche payable at a date to be agreed.

Substantial funding and resources have already been invested to bring the Morris JE from an engineering concept prototype, which made its debut in September 2022, to fully off tool engineering prototypes, including in house production of carbon-fibre components. The proceeds of this investment round will be used by Morris Commercial for final engineering optimisation and vehicle validation.

The funding round will also enable Morris Commercial to strengthen its partnerships with core suppliers and implement manufacturing and quality control systems. Morris Commercial expects that deliveries of the Morris JE will commence in early 2027. Further information about Morris Commercial and the Morris JE can be found at   www.morris-commercial.com .

The Company was also one of a number of MCL shareholders who took the opportunity to convert the A ordinary shares of £1.00 each held by them into the main equity holding of ordinary shares of £0.00001 each in the capital of MCL.

Commenting on the transaction, Alistair Currie, Chief Executive of Capital for Colleagues, said:

‘We are delighted to have successfully led this investment into Morris Commercial alongside existing shareholders. This funding round will allow MCL to complete additional prototype vehicles and further progress the Morris JE towards production readiness.’

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

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).