Capital for Colleagues plc / EPIC: CFCP / Market: ISDX / Sector: Investment
29 September 2016
CAPITAL FOR COLLEAGUES PLC
(‘Capital for Colleagues’ or the ‘Company’)
INVESTMENTS IN OFFICE FOR PUBLIC MANAGEMENT LIMITED AND BRIGHT ASCENSION LIMITED
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce that the Company has invested a total of GBP 450,000 in 2 new portfolio companies, Office for Public Management Limited and Bright Ascension Limited.
Office for Public Management Limited (‘OPML’)
OPML is an independent research and consultancy organisation, which supports and champions the delivery of social impact. OPML consists of two divisions: OPM and Dialogue by Design, a specialist consultation planning and analysis service. OPML works with public, private and third sector organisations – as well as service users and communities – to ensure that services are designed and implemented efficiently, effectively and in the public interest. Prior to this investment by Capital for Colleagues, OPML was wholly owned by an Employee Trust established in 1994.
Capital for Colleagues has subscribed GBP 250,000 for 5,295 A Ordinary Shares of GBP 1 each in OPML. The A Ordinary Shares have preferential rights with respect to capital value in the event of the occurrence of certain exit events. Alongside the Subscription, the Company has made a loan of GBP 50,000 to OPML (the ‘OPML Loan’). The OPML Loan bears interest at an appropriate commercial rate and is repayable after 5 years.
The proceeds of the subscription and the OPML Loan will be used by OPML for capital investment in infrastructure and for general working capital purposes.
Bright Ascension Limited (‘BAL’)
BAL is engaged in research and development related to software and hardware for the space industry and other high technology areas. The company is in the process of establishing an Employee Benefit Trust that will hold 20% of BAL’s ordinary shares.
Capital for Colleagues has subscribed GBP 150,000 for 150,000 A Ordinary Shares of GBP 1 each in BAL. The A Ordinary Shares have preferential rights with respect to capital value in the event of the occurrence of certain exit events. In addition, Capital for Colleagues has agreed to subscribe for a further GBP 100,000 of A Ordinary Shares in BAL in due course, subject to the satisfaction of certain conditions.
The proceeds of the subscription will be used by BAL to enhance its current product development, business development, support and sales teams.
The Directors of the Company are responsible for the contents of this announcement.
For further information, please visit www.capitalforcolleagues.com or contact:
CAPITAL FOR COLLEAGUES PLC
Richard Bailey, Chairman
John Eckersley, Chief Executive
0161 233 4891
|PETERHOUSE CORPORATE FINANCE LIMITED
|020 7469 0930|
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.