CareTech Holdings PLC Director/PDMR Shareholding (4823Z)

TIDMCTH

RNS Number : 4823Z

CareTech Holdings PLC

20 May 2019

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   % of issued share 
                                  shares             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          Ordinary Shares of 0.5p each 
       instrument 
       Identification code 
                                                                  GB00B0KWHQ09 
      --------------------------------------------------------  ------------------------------------------------------ 
 b)    Nature of the transaction                                 CFD over 500,000 ordinary shares 
      --------------------------------------------------------  ------------------------------------------------------ 
 c)    Price(s) and volume(s)                                     Price(s)   Volume 
                                                                   350p       500,000 
                                                                             -------- 
      --------------------------------------------------------  ------------------------------------------------------ 
 d)     Aggregated information                                    500,000 
     *    Aggregated volume                                        350p 
 
 
     *    Price 
 -------------------------------------------------------------  ------------------------------------------------------ 
 e)    Date of the transaction                                   17 May 2019 
      --------------------------------------------------------  ------------------------------------------------------ 
 f)    Place of the transaction                                  London Stock Exchange 
      --------------------------------------------------------  ------------------------------------------------------ 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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May 20, 2019 02:01 ET (06:01 GMT)