Portfolio Update : Bright Ascension Limited - 24 January 2022

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

24 January 2022

CAPITAL FOR COLLEAGUES PLC

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

PORTFOLIO UPDATE – BRIGHT ASCENSION 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, Bright Ascension Limited (‘BAL’).

In August 2021, Capital for Colleagues exchanged its preferential participation rights relating to its holding of ‘A’ Ordinary Shares in BAL into 50,000 new ordinary shares in BAL, with a deemed aggregate value of £1.75 million, whilst retaining an interest in the £250,000 principal amount of the ‘A’ Ordinary Shares. The Company is pleased to announce that, following the completion of a further funding round by BAL, this interest in the principal amount has now been redeemed by BAL, for cash consideration of £250,000.

The proceeds of the redemption will be applied in the ongoing fulfilment of the Company’s investment strategy and for general working capital purposes.

BAL is an industry-leading space software technology provider, offering unique off-the-shelf software products and solutions for the delivery of space-based services, both on spacecraft and on the ground.

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

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).