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DJ Capital for Colleagues plc Quarterly Investment Update

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment 
 
30 June 2020 
 
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, announces an investment update in 
respect of the quarter ended 31 May 2020. 
 
Key Statistics for the quarter: 
 
  * Portfolio comprised of 16 unquoted EOBs at the end of the quarter (29 
    February 2020: 18) 
 
  * Net Asset Value ('NAV') of GBP7,553,434 (29 February 2020: GBP7,747,343 ) 
 
  * NAV per share decreased to 48.92 pence in the quarter (29 February 2020: 
    50.17 pence per share) 
 
    Further information on the Company's investment portfolio is set out below. 
 
    UNQUOTED INVESTMENTS 
 
    As at 31 May 2020, the Company's portfolio of unquoted investments was 
    valued at GBP7,781,096 and comprised 16 companies operating across a range of 
    sectors, as set out below: 
 
Industrials (value: GBP3,848,687; 49.47% of Portfolio) 
 
Construction and Materials                                    Support Services 
Civils Store Limited                         Anthesis Consulting Group Limited 
Ecomerchant Natural Building                         Hire and Supplies Limited 
Materials Limited                         Office for Public Management Limited 
Employee Owners Group Limited                     Flow Control Company Limited 
Merkko Group Limited 
TPS Investment Holdings Limited 
 
Industrial Transportation 
Place 2 Place Logistics Limited 
 
Leisure & Travel (value: GBP250,000; 3.21% of Portfolio) 
 
Recreational Services 
 
South Cerney Outdoor Limited 
 
 
 
Media (value: GBP558,160; 7.17% of Portfolio) 
 
Exhibition Centres 
The Homebuilding Centre 
(Holdings) Limited 
 
 
Technology (value: GBP3,124,249; 40.15% of Portfolio) 
 
Software & Computer Services 
2C Services Limited 
Bright Ascension Limited 
Computer Application Services 
Limited 
The Security Awareness Group 
Ltd 
 
 
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 GBP103 million per annum and support 
approximately 865 jobs. 
 
Total Unquoted Investments (including short term loans) as at 31 May 2020 
 
Cost: GBP4,717,723 
 
Valuation (including capitalised costs): GBP7,781,096 
 
APPOINTMENT OF AUDITORS 
 
Capital for Colleagues is pleased to announce that Beever and Struthers have 
been appointed as auditors to the Company. 
 
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. 
 
COVID-19 
 
Appropriate valuation adjustments have also been made to reflect the impact of 
Covid-19 and the consequential effect on the UK and the world economy. 
 
The Board continues to believe that the Company's adherence to Employee 
Ownership principles will stand our investee businesses in good stead during 
the weeks and months ahead and leave them in good shape for the anticipated 
return to normal business in due course. 
 
Capital for Colleagues continues to have sufficient cash resources to maintain 
its operations and to allow flexible treatment of investee companies and their 
obligations. 
 
However, the Company will continue to monitor our investee companies in light 
of the changing situation, including considering any further impact upon the 
value of our portfolio of investments. 
 
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                                      01985 201 980 
Richard Bailey, Chairman 
Alistair Currie, Chief Executive 
 
PETERHOUSE CAPITAL LIMITED                                      020 7469 0930 
Mark Anwyl 
Allie Feuerlein 
 
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 
 
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 Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

June 30, 2020 02:01 ET (06:01 GMT)