Capital for Colleagues plc Portfolio Update
July 06 2016 - 2:00AM
UK Regulatory
TIDMCFCP
Capital for Colleagues plc / EPIC: CFCP / Market: ISDX / Sector: Investment
6 July 2016
CAPITAL FOR COLLEAGUES PLC
('Capital for Colleagues' or the 'Company')
PORTFOLIO UPDATE
Capital for Colleagues, the investment vehicle focused on opportunities in the
Employee Owned Business ('EOB') sector, is pleased to announce an update
regarding its existing investee company, Place 2 Place Logistics Limited
('P2P').
The GBP 150,000 short term loan from Capital for Colleagues to P2P has been
redeemed through the allotment to the Company of 150,000 'A' Ordinary Shares of
GBP1 each in P2P. The 'A' Ordinary Shares have preferential rights with respect
to ongoing dividends and with respect to capital value in the event of the
occurrence of certain exit events. In addition, Capital for Colleagues has been
issued with ordinary shares in P2P representing around 10 per cent of the P2P
ordinary shares in issue.
As part of this restructuring, and as envisaged at the time of the Company's
initial investment in P2P, an Employee Ownership Trust has been established at
P2P; this Trust is now interested in 30 per cent of P2P's ordinary shares.
John Eckersley, Chief Executive of Capital for Colleagues, said: 'As planned,
we have restructured our investment in Place 2 Place as part of a package
designed to broaden employee ownership at that company and to align our
interest more directly with that of the company's employee owners. We will
continue to focus on direct equity participation as our investee companies
mature and alternative capital structures become more appropriate'.
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 233 4891
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
July 06, 2016 02:00 ET (06:00 GMT)