Capital for Colleagues plc - Portfolio Update
PR Newswire
London, September 4
Capital for Colleagues plc / EPIC: CFCP / Market: NEX / Sector: Investment
5 September 2019
CAPITAL FOR COLLEAGUES PLC
('Capital for Colleagues' or the 'Company')
PORTFOLIO UPDATE - COTSWOLD VALVES LIMITED
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business ('EOB') sector, is pleased to announce that it has agreed terms for the realisation of the Company's investment in its portfolio company, Cotswold Valves Limited ('CVL').
Capital for Colleagues first invested in CVL in 2015 and subsequently supported CVL as it expanded its business through the acquisition of Flow Control Company Limited ('FCCL') in 2018. Capital for Colleagues and the management of CVL have now agreed that CVL and FCCL will be better able to develop their business under a revised ownership structure which, at this point, is not focused as rigorously on the promotion of Employee Ownership as Capital for Colleagues would prefer.
Accordingly, the Company has agreed to sell its equity interest in CVL for its acquisition cost of £220,000 in cash and to re-schedule all existing loans from the Company to CVL and FCCL, totaling £450,000. The Directors of the Company expect that the full consideration for the disposal and the amounts outstanding on the loans will be received by the Company in the course of the next three years.
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 Richard Bailey, Chairman Alistair Currie, Chief Executive | 01985 201 983 |
| PETERHOUSE CAPITAL LIMITED Mark Anwyl Duncan Vasey | 020 7469 0930 |
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.
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.
