21st Oct 2020 11:18
CareTech Holdings PLC
("CareTech" or "the Group")
PDMR Dealing
CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care and education services to adults and children in the UK, announces that Farouq Sheikh and Haroon Sheikh, the Company's executive Chairman and Chief Executive Officer respectively, have informed the Company that Sheikh Ventures Limited ("Ventures"), a wholly owned subsidiary of Sheikh Holdings Group (Investments) Limited ("SHG"), a company owned by members of the Sheikh family, including Farouq Sheikh and Haroon Sheikh, have acquired 63,000 ordinary shares of the Company (the "Shares"). The purchase was completed at a price of 473 pence per share.
Sheikh Ventures Limited, has also entered into a share pledge arrangement in respect of a small proportion of the CareTech shares that Farouq and Haroon Sheikh are beneficially interested in. The share pledge, which is in respect of 690,000 shares ("Pledged Shares"), forms part of Farouq Sheikh and Haroon Sheikh's broader personal estate planning. Sheikh Ventures Limited remains the legal and beneficial owner of the Pledged Shares.
The transactions above result 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 63,000 shares and are as follows:
| No. of ordinary shares | % of issued share capital |
|
|
|
Westminster Holdings Limited | 10,047,864 | 8.9% |
Sheikh Holdings Group | 2,642,145 | 2.3% |
Cosaraf Pension Fund | 230,000 | 0.2%
|
Total | 12,920,009 | 11.4% |
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)
For further information, please contact:
CareTech Holdings PLC 01707 601800
Farouq Sheikh, Executive Chairman
Christopher Dickinson, Group Finance Director
Consilium Strategic Communications 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
Numis (Joint Broker) 020 7260 1000
Jonathan Wilcox
James Black
Duncan Monteith
About CareTech
CareTech Holdings plc is a leading provider of specialist social care 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 Pathway 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
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 | Haroon Sheikh/ Farouq Sheikh /Sheikh Ventures Limited | ||||||
2 | Reason for the notification | |||||||
a) | Position/status
| Chief Executive Officer Executive Chairman | ||||||
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 | Share pledge and purchase of ordinary shares | ||||||
d)
| Price(s) and volume(s) |
| ||||||
d)
| Aggregated information - Aggregated volume and Price |
690,000 (share pledge)63,000 (share purchase) at 473p pence
| ||||||
e)
| Date of the transactions | 21st October 2020 | ||||||
f) | Place of the transaction | London | ||||||
Related Shares:
CTH.L