TIDMCTH
RNS Number : 3273H
CareTech Holdings PLC
03 August 2021
For immediate release 3 August 2021
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, the Company's
executive Chairman, has informed the Company that Westminster
Holdings Limited ("Westminster"), a company wholly owned and
controlled by the Westminster Trust (a discretionary trust of which
the beneficiaries include Farouq Sheikh and Haroon Sheikh, the
Company's Executive Chairman and Chief Executive Officer
respectively), have sold 750,000 ordinary shares of the Company
(the "Shares"). The sale forms part of Farouq Sheikh and Haroon
Sheikh's family estate planning in relation to their adult
children. The sale was completed at a price of 620 pence per
share.
The transaction 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 decreasing by 750,000 Shares and are as follows:
No. of ordinary % of issued
shares share capital
Westminster Holdings
Limited 9,297,864 8.2%
Sheikh Holdings Group 2,642,145 2.3%
Cosaraf Pension Fund 230,000 0.2%
Total 12,170,009 10.7%
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). Mr F
Sheikh and Mr H Sheikh also hold 123,203 and 138,604 options
respectively pursuant to the Company's Long Term Incentive
Plan.
In addition to the above and as part of broader estate planning,
it is the intention that the 9,297,864 shares held by Westminster
Holdings Limited will be transferred, in equal proportions to the
following two new family trusts for nil consideration: Belgravia
Investments Ltd, a company owned by The Belgravia Trust, a
discretionary trust; and Kensington Capital Ltd, a company owned by
The Kensington Trust, a discretionary trust. Beneficiaries of the
discretionary trusts include Mr F Sheikh and Mr H Sheikh and their
respective connected persons .
The transfer to the new family trusts will not result in any
overall change in the aggregate interests of Mr F Sheikh and Mr H
Sheikh and their connected persons in the issued share capital of
the Company.
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 5,000 adults and children with a
wide range of complex needs in more than 550 day services the UK
employing more than 10,500 staff; and an emerging presence in
international markets.
Committed to the highest standards of care and care governance,
CareTech's innovative Care Pathway covers Foster care, Children's
Services, Adults Services and Technology Solutions.
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 Westminster Holdings Limited (Farouq
Sheikh/Haroon Sheikh)
------------------------- -------------------------------------
2 Reason for the notification
----------------------------------------------------------------
a) Position/status Executive Chairman
Chief Executive Officer
------------------------- -------------------------------------
b) Initial notification Initial Notification
/Amendment
------------------------- -------------------------------------
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 Ordinary Shares of 0.5 pence each
the financial
instrument, type
of instrument
------------------------- -------------------------------------
b) Identification GB00B0KWHQ09
code
------------------------- -------------------------------------
c) Nature of the Share sale
transactions
------------------------- -------------------------------------
d) Price(s) and volume(s) Price(s) Volume
GBP6.20 750,000
--------
------------------------- -------------------------------------
d) Aggregated information Price(s) Aggregated Volume
- Aggregated volume GBP6.20 750,000
and Price ------------------
------------------------- -------------------------------------
e) Date of the transactions 2 August 2021
------------------------- -------------------------------------
f) Place of the transaction London
------------------------- -------------------------------------
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END
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