Non-Executive Director appointment - 24 March 2021

Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Investment
24 March 2021

CAPITAL FOR COLLEAGUES PLC

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

Appointment of Non-Executive Director

Capital for Colleagues, the investment vehicle focused on opportunities in the Employee Owned Business (‘EOB’) sector) is pleased to announce that Bill Ainscough has been appointed as a Non-executive Director of the Company with effect from 23 March 2021.

Bill has had a distinguished career in the residential construction sector. Having started his career as an architect, he moved into house building by founding Wainhomes in 1972. Over the following thirty years Bill grew Wainhomes through a number of mergers and acquisitions and, following a merger with Whelmar Housebuilders, he floated the Group on the London Stock Exchange in 1991.

Bill also established Networkspace, a company involved in investment, development and management of commercial property and Windermere Marina Village.

In 1999 he took Wainhomes back into private hands. A significant part of the business was sold to Wilson Connolly in 2001, with the residual operations being renamed as the Wain Group. The Wain Group has since grown into a substantial business, with divisions in the South West and North West of England. In 2015 Bill set up the Himor Group, a land and property company that specialises in commercial development, land promotion, property investment and regeneration.

Besides being the majority shareholder in the Wain Group today, Bill is also an active trustee of three charities: On Side Youth Zones, Rainbow Hub and The Brick.

Bill Ainscough is interested in 1,538,400 ordinary shares of 40p each in the Company, representing 9.96 per cent of the Company’s issued share capital.

Bill Ainscough commented:

‘I have been a shareholder in Capital for Colleagues for several years and, having stepped back from the day-to-day management of the Wain Group as part of a long-term family succession plan, I am delighted to now join the Board of the Company. I believe that employee ownership can be a powerful force for the long term, sustainable growth of businesses. C4C has an exciting portfolio of investments across a diverse range of sectors and I look forward to utilising my experience and guidance to support the Executive team develop the portfolio further.’

Alistair Currie, the CEO of Capital for Colleagues said:

 ‘We are delighted to welcome Bill to the Board of Capital for Colleagues. The Company is well placed to continue growing its portfolio of employee owned businesses and Bill’s knowledge and experience, as well as his wide range of contacts in the business world, will undoubtedly help us to accelerate this process.’

The Directors of the Company are responsible for the contents of this announcement.

**ENDS**

For further information, please visit www.capitalforcolleagues.com or contact:

Save as set out below, there is no further information regarding William (Bill) Ainscough that is required to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

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).