IN BRIEF: Caledonian Holdings narrows loss as supports investee AlbaCo

Caledonian Holdings PLC - Bingley, England-based investment company focused on financial services - Pretax loss narrows to £595,000 in the six months that ended September 30 from £2.7 million a year before. Caledonian has no revenue. The change in pretax loss is due to a smaller loss on fair value movements on investments. This is £263,000 in the recent half-year, compared to £2.6 million a year before. Net assets rise to £3.9 million on September 30 from £2.9 million a year before. Chair Brent Fitzpatrick notes that Caledonian made its first investment of £1 million into AlbaCo Ltd in June and invested another £1 million in October. Also since the end of September, Caledonian secured a £3.5 million funding package from Yorkville Advisors Global LP to help support AlbaCo, which is seeking a UK banking license to serve small and medium-sized businesses.

‘The fundraises and the recent facility put in place from Yorkville have strengthened the company’s cash reserves to support the new strategy and has provided a strong foundation to carry out the first two investments as a financial services focused investing company,’ Fitzpatrick says.

Current stock price: 0.0044 pence

12-month change: down 56%

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