PR Newswire
LONDON, United Kingdom, March 04
Capital for Colleagues plc / EPIC: CFCP / Market: Aquis / Sector: Financials
Date: 4 March 2026
CAPITAL FOR COLLEAGUES PLC
(`Capital for Colleagues’, `C4C’ or the `Company’)
PORTFOLIO UPDATE – MORRIS COMMERCIAL LTD
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, Morris Commercial Ltd (`Morris Commercial’ or
`MCL’).
Morris Commercial is aUK-based automotive engineering and manufacturing
business, focused on innovation and the creation of desirable carbon neutral
transport. Morris Commercial’s initial product, the Morris JE electric van,
draws inspiration from the iconic Morris J-Type, arguably one of the most
recognisable vans of the 1950s, and combines cutting-edge battery technology and
lightweight carbon-fibre construction with classically inspired British design.
Most components of the Morris JE are both recycled and recyclable, to further
enhance its environmental appeal.
Capital for Colleagues is pleased to announce that the Company has successfully
led a funding round of £1.5 million for MCL.
Capital for Colleagues is investing a further £500,000 in MCL, alongside the
majority shareholder, Qu Li (MCL’s Chief Executive Officer), and another
existing investor, both of whom are also investing £500,000.
This investment round in MCL is by way of the issue of convertible loan notes in
two tranches. The first tranche of £250,000 was paid by each of the three
investors on completion, with the second tranche payable at a date to be agreed.
Substantial funding and resources have already been invested to bring the Morris
JE from an engineering concept prototype, which made its debut in September
2022, to fully off tool engineering prototypes, including in house production of
carbon-fibre components. The proceeds of this investment round will be used by
Morris Commercial for final engineering optimisation and vehicle validation.
The funding round will also enable Morris Commercial to strengthen its
partnerships with core suppliers and implement manufacturing and quality control
systems. Morris Commercial expects that deliveries of the Morris JE will
commence in early 2027. Further information about Morris Commercial and the
Morris JE can be found atwww.morris-commercial.com.
The Company was also one of a number of MCL shareholders who took the
opportunity to convert the A ordinary shares of £1.00 each held by them into the
main equity holding of ordinary shares of £0.00001 each in the capital of MCL.
Commenting on the transaction, Alistair Currie, Chief Executive of Capital for
Colleagues, said:
`We are delighted to have successfully led this investment into Morris
Commercial alongside existing shareholders. This funding round will allow MCL to
complete additional prototype vehicles and further progress the Morris JE
towards production readiness.’
The Directors of the Company are responsible for the contents of this
announcement.
**ENDS**
For further information, please visitwww.capitalforcolleagues.comor contact:
+————————————+————-+
|CAPITAL FOR COLLEAGUES PLC |01782 940 380|
| | |
|Ed Jenkins, Chairman | |
| | |
|Alistair Currie, Chief Executive | |
| | |
|Lesley Watt, Chief Financial Officer| |
+————————————+————-+
|AlbR Capital Limited |020 7469 0930|
| | |
|Aquis Corporate Adviser and Broker | |
+————————————+————-+
Capital for Colleagues plc
Capital for Colleagues is an investment company focused on theUKEOB 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).
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