8th Jul 2008 14:12
CareTech Holdings plc (the 'Company')
Director's Shareholdings
Subsequent to the allotment of shares and the passing of all resolutions in respect of the placing of 7,142,857 new ordinary shares, and the sale of 600,000 existing ordinary shares of 0.5p each in the capital of the Company (together "Ordinary Shares") (the "Placing"), CareTech announces the following changes to Directors' interests in the Company:
As part of the Placing David Spink, Finance Director, sold 200,000 Ordinary Shares at a price of 420p per share for personal tax planning reasons. Following this transaction David Spink has a notifiable interest in 680,000 Ordinary Shares representing 1.5% of the Company's issued share capital.
As part of the Placing of existing shares Autovibe Limited, a company wholly owned by Wendy Wallace, the wife of Stewart Wallace Corporate Development Director, sold 400,000 Ordinary Shares at a price of 420p per share for personal tax planning reasons. Following this transaction Stewart Wallace has a notifiable interest in 786,250 Ordinary Shares representing 1.8% of the Company's issued share capital.
As part of the Placing Westminster Holdings Limited a company wholly owned and controlled by the Westminster Trust, a discretionary trust of which the beneficiaries may include Farouq Sheikh and Haroon Sheikh the Executive Chairman and Chief Executive Officer of the Company respectively, purchased 75,000 Ordinary Shares at a price of 420p per share. Following this transaction Westminster Holdings Limited has a notifiable interest in 10,422,500 Ordinary Shares representing 23.4% of the Company's issued share capital.
As part of the Placing Farouq Sheikh, the Executive Chairman of the Company, purchased 35,000 Ordinary Shares at a price of 420p per share. Following this transaction Farouq Sheikh has a notifiable interest in 485,000 Ordinary Shares representing 1.1% of the Company's issued share capital.
As part of the Placing Haroon Sheikh, the Chief Executive Officer of the Company, purchased 35,000 Ordinary Shares at a price of 420p per share. Following this transaction Haroon Sheikh has a notifiable interest in 485,000 Ordinary Shares representing 1.1% of the Company's issued share capital.
As part of the Placing the Cosaraf Trust, a trust of which the beneficiaries include the children of Farouq Sheikh and Haroon Sheikh, purchased 35,000 Ordinary Shares at a price of 420 pence per share. The trustees of the Cosaraf Trust include Farouq Sheikh and Haroon Sheikh. Following this transaction the Cosaraf Trust has a notifiable interest in 2,060,000 Ordinary Shares representing 4.6% of the Company's issued share capital.
As Part of the Placing the Cosaraf Pension Fund, a Self Administered Scheme established for the benefit of Haroon Sheikh and Farouq Sheikh, purchased 20,000 Ordinary Shares at a price of 420 pence per share. Following this transaction the Cosaraf Pension Fund has a notifiable interest in 20,000 Ordinary Shares representing 0.04% of the Company's issued share capital.
Following this transaction Farouq and Haroon Sheikh each have a notifiable interest in 12,987,500 Ordinary Shares representing 29.2 per cent of the issued share capital of the Company. Included within both Farouq Sheikh and Haroon Sheikh's notifiable interests are 10,422,500 Ordinary Shares held by Westminster Holdings Limited, 20,000 Ordinary Shares held by the Cosaraf Pension Fund and 2,060,000 Ordinary Shares held by the Cosaraf Trust.
In aggregate, Farouq and Haroon Sheikh and their connected persons have a notifiable interest in 13,472,500 Ordinary Shares representing 30.25 per cent of the issued share capital of the Company.
For further information, please contact:
CareTech Holdings PLC 01707 652 053
Farouq Sheikh, Executive Chairman
Brewin Dolphin Investment Banking
Matt Davis/Sean Wyndham-Quin 0845 270 8600
Related Shares:
CTH.L