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DJ Capital for Colleagues plc Quarterly Investment Update

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: NEX / Sector: Investment 
 
2 October 2017 
 
CAPITAL FOR COLLEAGUES PLC 
 
('Capital for Colleagues' or the 'Company') 
 
QUARTERLY INVESTMENT UPDATE 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business ('EOB') sector, is pleased to announce an investment 
update in respect of the quarter ended 31 August 2017. 
 
Key Statistics for the quarter: 
 
  * Portfolio comprised of 16 unquoted EOBs at the end of the quarter 
 
  * Net Asset Value ('NAV') of GBP 6,551,117 (: GBP 6,560,754) 
 
  * NAV per share of 42.58 pence (: 42.65 pence per share) 
 
    Material developments in the quarter: 
 
  * GBP 400,000 invested in new portfolio company, Employee Owners Group 
    Limited, the holding company for a number of businesses operating 
    predominantly under the "Carpenter Oak" brand. Carpenter Oak has been 
    creating timber frames since 1987, completing a range of award winning 
    projects, from the largest publicly accessible oak framed buildings in the 
    UK, to a timber frame swimming pool in Russia. 
  * Follow-on investment of GBP 150,000 in portfolio company, Computer 
    Application Services Limited, which is a developer of Workpro case 
    management software, principally used in the management of regulated 
    complaints. 
 
Further information on the Company's investment portfolio is set out below. 
 
UNQUOTED INVESTMENTS 
 
As at 31 August 2017, the Company's portfolio of unquoted investments was 
valued at GBP 4,871,478 and comprised 16 companies operating across a range of 
sectors, as set out below: 
 
Industrials (value: GBP 3,780,520 ;77.61% of Portfolio) 
 
Construction and Materials                                  Support Services 
Civils Store Limited                       Anthesis Consulting Group Limited 
Ecomerchant Natural Building                         Cotswold Valves Limited 
Materials Ltd                                      CSM Site Supplies Limited 
Employee Owners Group Limited                      Hire and Supplies Limited 
Merkko Group Limited                        MI Accountancy Solutions Limited 
TPS Investment Holdings Limited         Office for Public Management Limited 
 
 
Industrial Transportation 
Place 2 Place Logistics Limited 
 
Retail (value: GBP 373,388; 7.66% of Portfolio) 
 
General retailers 
The Homebuilding Centre 
(Holdings) Limited 
 
Technology (value: GBP 717,570; 14.73% 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 GBP 63 million per annum and 
support approximately 520 jobs. 
 
Total Unquoted Investments (including short term loans) as at 31 August 2017 
 
Cost: GBP 4,368,865 
 
Valuation (including capitalised costs): GBP 4,871,478 
 
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. 
 
**ENDS** 
 
For further information, please visit www.capitalforcolleagues.com or contact: 
 
 
CAPITAL FOR COLLEAGUES PLC                                      0161 464 7538 
Richard Bailey, Chairman 
John Eckersley, Chief Executive 
 
PETERHOUSE CORPORATE FINANCE LIMITED                            020 7469 0930 
Mark Anwyl 
Duncan Vasey 
 
Notes 
 
Capital for Colleagues is an investment company focused on the Employee Owned 
Business ('EOB') sector.  The Company has a clear strategy aimed at investing 
in, advising and growing established, mainly UK-based, EOBs as well as 
assisting companies which are looking to launch employee ownership schemes, 
providing the capital and advice to help them achieve their objectives. 
 
Capital for Colleagues 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 identify and 
capitalise on EOB-focused investment opportunities. 
 
 
 
END 
 

(END) Dow Jones Newswires

October 02, 2017 02:00 ET (06:00 GMT)