PR Newswire
London, December 8
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment
9 December 2021
CAPITAL FOR COLLEAGUES PLC
(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)
£1.95 MILLION PLACING
Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce that it has raised £1.95 million (before expenses) through a placing (“Placing”) of 3,050,337 new ordinary shares of 40p each in the Company (“Ordinary Shares”) at a price of 64p per share. The placing price represents a premium of approximately 6% to the Company’s share price of 60p at the close of business on 8 December 2021. The proceeds of the Placing will be applied in the ongoing fulfilment of the Company’s investment strategy and for general working capital purposes.
The Ordinary Shares have been subscribed for by the Directors of the Company, existing shareholders in the Company and by a number of new investors, including T. J. Morris Limited, which subscribed for 1,847,000 Ordinary Shares, representing 9.99% of the Company’s issued share capital as enlarged by the Placing. Tom Morris, managing director and majority shareholder of T. J. Morris Limited, has confirmed he is supportive of investment in companies such as Capital for Colleagues and in collaborating with the Company in furtherance of their future investment strategy.
All of the Directors participated in the Placing, subscribing for a total of 357,126 Ordinary Shares, as set out below:
| Director | Ordinary Shares Subscribed | Shareholding following the Placing | % of Enlarged Issued Share Capital |
| Richard Bailey | 7,813 | 191,182 | 1.03 |
| Alistair Currie | 25,000 | 602,104 | 3.26 |
| John Lewis | 3,125 | 292,414 | 1.58 |
| Ed Jenkins | 4,688 | 119,824 | 0.65 |
| Richard Sloss | 6,500 | 111,775 | 0.60 |
| Bill Ainscough | 310,000 | 1,848,400 | 9.99 |
Application will be made for the Ordinary Shares to be admitted to trading on the Access segment of the AQSE Growth Market (“Admission”). Admission is expected to become effective on Wednesday, 15 December 2021.
The Ordinary Shares issued in the Placing will, on Admission, rank pari passu in all respects with the existing Ordinary Shares and will rank in full for all dividends and other distributions hereafter declared, paid or made on the ordinary share capital of the Company.
Following the Placing, the Company has 18,492,279 Ordinary Shares in issue, each share carrying the right to one vote.
This figure of 18,492,279 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Alistair Currie, Chief Executive of Capital for Colleagues, said:
“We are delighted to have successfully completed the Placing and are particularly pleased with the strong support from existing shareholders and new investors in the Company. We believe that this support, and the progress shown by our results announced earlier today, reflect the robustness of our strategy, the quality of the companies in our portfolio and the recognised investment potential of the EOB sector. As “patient capital” becomes increasingly important to EOBs, especially in these challenging times, we remain well placed to capitalise from the many investment opportunities that are available to us.”
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 John Lewis, Director |
01985 201 980 |
| 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. 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
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Richard Bailey |
| 2 | Reason for the notification | |
| a) | Position/status | Chairman of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 7,813 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Alistair Currie |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 25,000 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | John Lewis |
| 2 | Reason for the notification | |
| a) | Position/status | Director of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 3,125 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Ed Jenkins |
| 2 | Reason for the notification | |
| a) | Position/status | Non-executive Director of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 4,688 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Richard Sloss |
| 2 | Reason for the notification | |
| a) | Position/status | Non-executive Director of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 6,500 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
| Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them. | ||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Bill Ainscough |
| 2 | Reason for the notification | |
| a) | Position/status | Non-executive Director of Capital for Colleagues plc |
| b) | Initial notification /Amendment | Initial |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Capital for Colleagues plc |
| b) | LEI | 213800K2JRG9LQKQTM98 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 40p each ISIN: GB00BGCZ2V99 |
| b) | Nature of the transaction | Participation in a Placing |
| c) | Price(s) and volume(s) | 310,000 Ordinary Shares at 64p per share |
| d) | Aggregated information - Aggregated volume - Price |
n/a (single transaction) |
| e) | Date of the transaction | 9 December 2021 |
| f) | Place of the transaction | AQSE Growth Market |
