AUDITED RESULTS FOR THE YEAR ENDED 31 AUGUST 2021

Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment

9 December 2021

CAPITAL FOR COLLEAGUES PLC

(‘Capital for Colleagues’, ‘C4C’ or the ‘Company’)

Audited results for the year ended 31 August 2021

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector, is pleased to announce its audited results for the year ended 31 August 2021.

CHIEF EXECUTIVE’S REPORT FOR THE YEAR ENDED 31 AUGUST 2021

In last year’s report we stated that all of C4C’s investments had coped robustly with the challenges posed by the Covid-19 pandemic. It is pleasing to report, a year later, that this remains the case today and most of our investee companies have adapted to these challenges with innovative ideas that have positively enhanced the scale and quality of their earnings. As a result, the valuations of many of our investments have increased meaningfully during the year under review. We are convinced that the culture engendered by employee ownership and high levels of employee engagement has been a major factor behind the strong performance of our investment portfolio during these difficult times.

During the year to 31 August 2021 the Net Asset Value per share (NAV) rose by 32.3% to 69.71p. (2020: 52.69p). The strong trading performance of several companies in the portfolio resulted in net revaluation gains of £1.293m (2020: £1.346m) in addition to realised gains on disposals of £1.130m (2020: £0.307m). No loan impairments were required in the portfolio during the year under review (2020: £0.1m).

Following a number of realisations during the year the Company’s cash resources increased considerably. As at 31 August 2021 C4C had cash balances of £1.907m (2020: £0.388m) and no debt (2020: £nil).

For the full report please click on the PDF link below.