CareTech Holdings

Director/PDMR Shareholding

RNS Number : 5111F
CareTech Holdings PLC
10 March 2020
 

For immediate release

10 March 2020

 

 

 

CareTech Holdings PLC

("CareTech" or the "Company")

Director/PDMR Shareholding

CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care and education services to adults and children in the UK, announces that Grosvenor UK Ltd ("Grosvenor"), a wholly owned subsidiary of Sheikh Holdings Group (Investments) Limited ("SHG"), has become beneficially interested in 750,000 ordinary shares of the Company (the "Shares") via a contract for difference ("CFD") entered into on 7 March 2020.  SHG is wholly owned by members of the Sheikh family, including Farouq Sheikh and Haroon Sheikh, the Company's executive Chairman and Chief Executive Officer respectively. The CFD was effected at a price of 435 pence per Share. 

Grosvenor has no voting rights over the Shares and there are no ancillary arrangements relating to these shares other than the terms of the CFD.

The transaction was effected in two parts. The first, a tranche of 500,000 shares acquired from Westminster Holdings Limited, the second a tranche of 250,000 shares acquired from other parties, resulting in the interests of Mr F Sheikh and Mr H Sheikh and their connected persons in the issued share capital of the Company increasing by 250,000 shares and are as follows:


No. of ordinary shares

% of issued share capital

Farouq Sheikh

638,919

0.6%

Haroon Sheikh

690,226

0.6%

Westminster Holdings Limited

10,047,864

9.0%

Grosvenor UK Limited

Cosaraf Pension Fund

1,250,000

230,000

1.1%

0.2%




Total

12,857,009

11.5%

 

In addition to the above, Mr F Sheikh and Mr H Sheikh are also each interested in 320,000 ordinary shares  (total 640,000 ordinary shares) in the Company pursuant to the Executive Shared Ownership Plan 2016 (these share awards vested on 1 May 2019 following fulfilment of the vesting criteria including EPS criteria) and 400,000 ordinary shares (total 800,000 ordinary shares) in the Company pursuant to the Executive Shared Ownership Plan 2019 (which are scheduled to vest in November 2022 and are subject to the fulfilment of vesting criteria)

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCAs") with them.

 1

Details of the person discharging managerial responsibilities / person closely associated  

a)

Names 

Grosvenor UK Ltd ("Grosvenor")

2

Reason for the notification

a)

Position/status

 

Grosvenor is a wholly owned subsidiary of Sheikh Holdings Group (Investments) Limited ("SHG"), a company controlled by Farouq Sheikh and Haroon Sheikh, Executive Chairman and Chief Executive Officer of the Company respectively. As Mr F Sheikh and Mr H Sheikh are both PDMRs, Grosvenor is classified as a PCA for the purposes of the EU Market Abuse Regulation

b)

Initial notification /Amendment 

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 

a)

Name

CareTech Holdings PLC

b)

LEI

 

213800HI1AZG2GLBYF65

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Ordinary Shares of 0.5 pence each

b)

Identification code 

GB00B0KWHQ09

c)

Nature of the transactions 

 

CFD over 750,000 ordinary shares

d)

 

Price(s) and volume(s)

Price(s)

Volume

435p

750,000

 

d)

 

Aggregated information 

- Aggregated volume

- Price

 

750,000

435p

e)

 

Date of the transactions 

7 March 2020

f) 

Place of the transaction

London Stock Exchange

 

 

For further information, please contact:

 

CareTech Holdings PLC    01707 601800

Farouq Sheikh, Executive Chairman

Christopher Dickinson, Chief Financial Officer

 

Consilium Strategic Communications (PR Adviser)  020 3709 5700

Mary-Jane Elliott

Chris Welsh

Angela Gray

 

Panmure Gordon (Nomad and Joint Broker    020 7886 2500

Emma Earl

Freddy Crossley

Charles Leigh-Pemberton

 

WH Ireland (Joint Broker)      020 7220 1666

Adrian Hadden

Jessica Cave

Matthew Chan

 

About CareTech

 

CareTech Holdings plc is a leading provider of specialist social care and education services, supporting around 4,500 adults and children with a wide range of complex needs in more than 550 residential facilities and specialist schools around the UK and employing approximately 10,000 staff.

 

Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways covering; Adult learning disabilities and specialist services; Children's residential and education services; and foster care.

 

CareTech, which was founded in 1993, began trading on the AIM market of the London Stock Exchange in October 2005 under the ticker symbol CTH.

 

For further information please visit: www.caretech-uk.com

 

 

 


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