Capital for Colleagues Plc Portfolio Update - The Homebuilding Centre (Holdings) Limited

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials 
 
4 September 2023 
 
CAPITAL FOR COLLEAGUES PLC 
 
(`Capital for Colleagues', `C4C' or the `Company') 
 
PORTFOLIO UPDATE - THE HOMEBUILDING CENTRE (HOLDINGS) LIMITED 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business (`EOB') sector, is pleased to announce a further update 
in respect of its investee company, The Homebuilding Centre (Holdings) Limited 
(`HBC'). 
 
HBC operates and manages "The National Self Build & Renovation Centre", which is 
the UK'S only permanent venue for independent homebuilding advice and support. 
Established in 2007, HBC has assisted almost a quarter of a million visitors 
build their own dream home or extend and improve their existing property. 
 
On 31 January 2022, the Company announced that it had agreed to sell its holding 
of `A' Ordinary Shares in HBC in 5 annual tranches, commencing in August 2022, 
for cash consideration calculated by reference to the financial performance and 
position of HBC for each year. The Company will receive a minimum payment of 
£50,000 per tranche, guaranteeing the full return of its original £250,000 
investment in HBC's `A' Ordinary Shares. 
 
Capital for Colleagues is pleased to announce that it has received the second 
tranche of consideration, amounting to £107,999 in cash. The premium to the 
minimum payment of £50,000 reflects successful ongoing trading at HBC. 
 
The `A' Ordinary Shares are being acquired by HBC as part of its programme of 
expanding employee ownership as its business continues to prosper. When the 
Company's disposal of the HBC `A' Ordinary Shares is complete, Capital for 
Colleagues will remain interested in 15% of the issued ordinary share capital of 
HBC, with the remaining 85% held by employees of HBC. 
 
The proceeds of the disposals will be applied in the ongoing fulfilment of the 
Company's investment strategy and for general working capital purposes. 
 
Commenting on the disposal, Alistair Currie, Chief Executive of Capital for 
Colleagues, said: 
 
"For the second successive year, we have received a significant premium to the 
minimum price payable, reflecting the resilient performance of HBC in 
challenging conditions. We congratulate the team at HBC and are delighted that, 
as employee owners, they also share in the rewards that their efforts have 
generated." 
 
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 
 
John Lewis, Finance Director 
PETERHOUSE CAPITAL LIMITED        020 7469 0930 
 
Mark Anwyl 
 
Capital for Colleagues plc 
 
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). 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/capital-for-colleagues-plc/r/portfolio-update---the-homebuilding-centre--holdings--limited,c3828508 
 
 
END

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September 04, 2023 02:01 ET (06:01 GMT)

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