Capital for Colleagues plc Quarterly Investment Update

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials 
 
30 March 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 28 February 2023. 
 
Key Statistics for the quarter: 
 
  * Portfolio comprised of 13 unquoted EOBs at the end of the quarter (30 
    November 2022: 13) 
  * Net Asset Value ('NAV') of £14,384,014 (30 November 2022: £14,270,783) 
  * Following the dividend of 1.75p per share (accrued at 28 February 2023 and 
    paid on 3 March 2023) NAV per share increased to 77.78 pence in the quarter 
    (30 August  2022: 77.17 pence per share) 
 
Key Developments in the quarter: 
 
  * As part of a reorganisation, Employee Owners Group Limited ('EOG') formed a 
    new holding company, Carpenter Oak Group Limited, which is now 51% owned by 
    an Employee Ownership Trust ('EOT'), with the balance owned by Capital for 
    Colleagues (30%) and management (19%). The EOT, which previously held a 
    7.5% interest in EOG, acquired its controlling interest from EOG's founding 
    shareholders. 
 
  * C4C acquired the entire issued share capital of MI Accountancy Solutions 
    Limited ('MIA'). MIA is a Staffordshire based accountancy firm which offers 
    a range of accounting services, principally the preparation of management 
    accounts. MIA has been providing accounting services to a number of C4C's 
    investee companies, and the Directors believe that, by bringing these 
    services in house, Capital for Colleagues will be able to cost-effectively 
    broaden the support and advice it offers all EOBs, whilst at the same time 
    strengthening relationships with existing investee companies. MIA will 
    continue to offer its services to all businesses, including those which are 
    not Employee Owned. The Company acquired MIA for an effective consideration 
    of £95,000 in cash. Deferred consideration of up to £20,000 may be payable, 
    depending on the post-acquisition performance of MIA. 
 
The Company currently has cash balances of £2.831 million. The Company has no 
debt. 
 
Further information on the Company's investment portfolio is set out below. 
 
UNQUOTED INVESTMENTS 
 
As at 28 February 2023, the Company's portfolio of unquoted investments was 
valued at £11,279,518 and comprised 13 companies operating across a range of 
sectors, as set out below: 
 
Industrials (value: £4,591,667; 40.71% of Portfolio) 
 
Construction & Materials                                        Support Services 
Ecomerchant Natural Building                           Hire and Supplies Limited 
Materials Limited                                   Flow Control Company Limited 
Carpenter Oak Group Limited                 The Security Awareness Group Limited 
TPS Investment Holdings Limited 
 
Industrial Transportation 
Place 2 Place Logistics Limited 
 
Leisure & Travel (value: £578,658; 5.13% of Portfolio) 
 
Recreational Services 
 
South Cerney Outdoor Limited 
 
 
 
Media (value: £463,613; 4.11% of Portfolio) 
 
Exhibition Centres 
The Homebuilding Centre 
(Holdings) Limited 
 
 
Technology (value: £5,645,580; 50.05% 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 £46.4 million (£45.6 million) per 
annum and support approximately 315 (325) jobs. 
 
Total Unquoted Investments (including short-term loans) as at 28 February 2023 
 
Cost: £7,183,685 
 
Valuation (including capitalised costs): £11,279,518 
 
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. 
 
**ENDS** 
 
For further information, please visit www.capitalforcolleagues.com or contact: 
 
 
CAPITAL FOR COLLEAGUES PLC                                      01985 201 980 
Richard Bailey, Chairman 
Alistair Currie, Chief Executive 
John Lewis, Finance Director 
 
PETERHOUSE CAPITAL LIMITED                                      020 7469 0930 
Mark Anwyl 
 
Capital for Colleagues 
 
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). 
 
 
 
END
(END) Dow Jones Newswires
March 30, 2023 02:01 ET (06:01 GMT)
Capital for Colleagues (AQSE:CFCP)
過去株価チャート
から 5 2024 まで 6 2024