CFCP Capital for Colleagues plc

 
TIDMCFCP 
 
Capital for Colleagues plc / EPIC: CFCP / Market: AQSE / Sector: Financials 
 
30 May 2023 
 
                          CAPITAL FOR COLLEAGUES PLC 
 
             ('Capital for Colleagues', 'C4C' or the 'Company') 
 
                  PORTFOLIIO UPDATE - CRAFT PROSPECT LIMITED 
 
Capital for Colleagues, the investment vehicle focused on opportunities in the 
Employee Owned Business ('EOB') sector, is pleased to announce an update in 
respect of its investee company, Craft Prospect Limited ('CPL'). 
 
Founded in 2017, Glasgow-based CPL is a space engineering business that 
develops enabling quantum and AI-based products and mission applications for 
the small satellite market. 
 
The Company is pleased to announce that CPL has been appointed to lead the 
OPS-SAT Versatile Optical Laboratory for Telecoms ('VOLT') Mission, a joint 
mission with the European Space Agency ('ESA'), for demonstrating products and 
services within a Versatile Optical Laboratory for Telecommunications.  This 
project, total value around ?12.0 million, will incorporate a range of CPL's 
previously developed technologies on board, including Quantum Key Distribution 
Space hardware and Autonomous operations software. The VOLT mission will test a 
range of hardware and software technologies in flight, allowing the Telecom 
Directorate of ESA, under the ScyLight programme, to evaluate and test radical 
new techniques and technologies in real time in a Low Earth Orbit environment. 
 
Commenting on the joint mission, Steve Greenland, CPL's Managing Director, 
said: 
 
'Our announcement of the joint Craft Prospect/ESA VOLT mission is testament to 
the six years of investment in our smart secure satellite technology. This 
mission is a major vote of confidence in our business and positions us to play 
a critical role for delivering new solutions to the global challenges we face. 
We look forward to finalising negotiations and moving into kick-off for the 
second half of 2023.' 
 
Alistair Currie, the CEO of Capital for Colleagues said: 
 
'The confirmation of this joint mission with the ESA demonstrates that CPL now 
has the skills and capability to win significant projects. The scale and 
importance of the VOLT programme bodes well for the company's long term growth, 
and we look forward to continuing to support CPL as it develops into one of the 
leaders in its field.' 
 
Since Capital for Colleagues first invested £800,000 in CPL in August 2021, CPL 
has grown into a demonstrably successful EOB. C4C Is now interested in 10.85% 
of CPL's issued share capital, with Directors and employees owning 61.4% and an 
Employee Ownership Trust 20%. The remaining shares are held by Scottish 
Enterprise's Early Stage Growth Challenge Fund and the University of 
Strathclyde. 
 
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 
 
The Directors of the Company are responsible for the contents of this 
announcement. 
 
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). 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 30, 2023 10:52 ET (14:52 GMT)

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