20th May 2019 07:00
For Immediate Release 20 May 2019
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 500,000 ordinary shares of the Company (the "Shares") via a contract for difference ("CFD") entered into on 17 May 2019. 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 350 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.
In addition to the CFD, the interests of Mr F Sheikh and Mr H Sheikh and their connected persons in the issued share capital of the Company are as follows:
| No. of ordinary shares | % of issued share capital |
Farouq Sheikh | 638,919 | 0.59% |
Haroon Sheikh | 690,226 | 0.63% |
Westminster Holdings Limited | 10,547,864 | 9.68% |
Cosaraf Pension Fund | 230,000 | 0.21% |
|
|
|
Total | 12,107,009 | 11.11% |
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 and a further 9,278 ordinary shares each (total 18,556 ordinary shares) pursuant to the CareTech Sharesave Scheme. These share awards vested on 1 May 2019 following fulfilment of the vesting criteria including EPS criteria.
For further information please contact:
CareTech Holdings plc 01707 601 800
Farouq Sheikh, Executive Chairman
Gareth Dufton, Interim Group Finance Director
Panmure Gordon (Nomad and Joint Broker) 0207 886 2500
Emma Earl
Freddy Crossley
Charles Leigh-Pemberton
WH Ireland (Joint Broker) 0207 220 1666
Adrian Hadden
Jessica Cave
Matthew Chan
Buchanan (PR Adviser) 0207 466 5000
Mark Court
Sophie Wills
Tilly Abraham
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | 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
Identification code | Ordinary Shares of 0.5p each
GB00B0KWHQ09 | ||||
b) | Nature of the transaction | CFD over 500,000 ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
500,000 350p | ||||
e) | Date of the transaction | 17 May 2019 | ||||
f) | Place of the transaction | London Stock Exchange | ||||
Related Shares:
CTH.L