We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Caretech Holdings Plc | LSE:CTH | London | Ordinary Share | GB00B0KWHQ09 | ORD 0.5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 750.00 | 749.00 | 750.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCTH
RNS Number : 3450A
CareTech Holdings PLC
23 March 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
For immediate release 23 March 2017
CareTech Holdings PLC
("CareTech" or "the Company")
Results of Placing
CareTech Holdings PLC (AIM: CTH), a leading UK provider of specialist social care services, is pleased to announce the successful completion of the Placing announced on 22 March 2017.
A total of 13,060,091 Placing Shares, comprising 11,000,000 New Shares and 2,060,091 Sale Shares have been placed by the Bookrunners at a price of 355 pence per share. The Placing has, pursuant to the issue of the New Shares, raised approximately GBP39 million (before expenses) for the Company.
Panmure Gordon, WH Ireland and finnCap are acting as Bookrunners in connection with the Bookbuild.
Farouq Sheikh, CareTech's Executive Chairman, said:
"We are delighted with the level of support for our oversubscribed fundraising. We would like to take the opportunity to welcome new shareholders onto our register as well as thank our existing investors for their continued support. We look forward to deploying the funds raised for the Company, with a view to generating further value for all our shareholders."
PDMR Dealings
ExSOP
Farouq Sheikh (Executive Chairman), Haroon Sheikh (Chief Executive Officer) and Michael Hill (Group Finance Director) were, pursuant to the CareTech Executive Shared Ownership Plan 2012 ("ExSOP"), previously interested in 285,000, 380,000 and 166,250 Ordinary Shares respectively (831,250 Ordinary Shares in aggregate), with their respective interests in the ExSOP jointly held by the EBT.
Following the announcement of the Placing on 22 March 2017, the Executives served notice, under the terms of the ExSOP, of their intentions to "swap out" their respective interests in the Ordinary Shares previously jointly held with the EBT.
Pursuant to these arrangements:
-- Farouq Sheikh, Haroon Sheikh and Michael Hill have each now taken sole ownership of 153,919, 205,226 and 89,786 Ordinary Shares respectively at a deemed price of 351 pence per share (as determined under the rules of the ExSOP). These Ordinary Shares are included in the previously notified 12 month lock-in covering, in aggregate, 2 per cent. of the Company's issued share capital (as enlarged by the issue of the New Shares pursuant to the Placing).
-- The EBT took sole ownership of 382,319 Ordinary Shares which, along with a further 88,735 Ordinary Shares, have today been sold on the EBT's behalf.
Cosaraf Trust
As part of the arrangements for the Placing, Cosaraf Trust has sold 2,060,091 Sale Shares at the Placing Price. Cosaraf Trust is a trust whose beneficiaries are the children of Farouq Sheikh and Haroon Sheikh. Farouq Sheikh and Haroon Sheikh are both trustees of the Cosaraf Trust which, accordingly, is classified as one of their Persons Closely Associated ("PCA") under the EU Market Abuse Regulation.
Summary
The interests of Farouq Sheikh and Haroon Sheikh and their PCAs and Michael Hill in the current issued share capital and the Company's issued share capital, as enlarged by the issue of the New Shares under the Placing and immediately following Admission, are set out below:
Hot Features
Premium
No. Ordinary % of issued
No. Ordinary Shares share capital
Shares % of current held immediately immediately
currently issued following following
held share capital Admission Admission
Farouq Sheikh 485,000 0.8% 638,919 0.9%
Haroon Sheikh 485,000 0.8% 690,226 0.9%
Westminster
Holdings Limited 11,263,519 17.5% 11,263,519 15.0%
Cosaraf Trust 2,060,091 3.2% - -
Cosaraf Pension
Fund 170,000 0.2% 170,000 0.2%
Total: Farouq
Sheikh and
Haroon Sheikh
and their
respective
PCAs 14,463,610 22.5% 12,762,664 17.0%
Michael Hill 47,619 0.1% 137,405 0.2%
Certain of the Company's senior managers have also agreed to subscribe for, in aggregate, New Shares at the Placing Price raising gross proceeds of approximately GBP0.13 million for the Company pursuant to the Placing.
Unless the context requires otherwise, capitalised terms in this announcement have the same meanings as defined in the Company's announcement of the Placing released via RNS on 22 March 2017.
Application for admission to trading on AIM and total voting rights
Application has been made to the London Stock Exchange for admission to trading of the New Shares on AIM. It is expected that Admission will take place at or around 8:00 a.m. on or around 28 March 2017 (at which time the Placing will become unconditional) and that dealings in the New Shares on AIM will commence at the same time.
The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the capital of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the New Shares.
CareTech's enlarged issued ordinary share capital immediately following Admission will be 75,196,103 Ordinary Shares with voting rights attached. The Company has no shares in Treasury; therefore the total number of voting rights in CareTech is 75,196,103. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
CareTech Holdings PLC 01707 601 800 Farouq Sheikh, Executive Chairman Michael Hill, Group Finance Director Buchanan (PR Adviser) 0207 466 5000 Mark Court Sophie Cowles Stephanie Watson Panmure Gordon (Nomad and Bookrunner) 020 7886 2500 Freddy Crossley Charles Leigh-Pemberton Peter Steel WH Ireland (Bookrunner) 020 7220 1666 Adrian Hadden Nick Prowting finnCap (Bookrunner) 020 7220 0663 Geoff Nash Tim Redfern Christian Hobart
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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 Farouq Sheikh, Haroon Sheikh,
Michael Hill
--- ----------------------- --------------------------------------------
2 Reason for the notification
--- ---------------------------------------------------------------------
a) Position/status Farouq Sheikh - Executive Chairman
and PDMR
Haroon Sheikh - Chief Executive
Officer and PDMR
Michael Hill - Group Finance
Director and PDMR
--- ----------------------- --------------------------------------------
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
--- ----------------------- --------------------------------------------
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 Ordinary Shares of 0.5 pence
of the financial each
instrument,
type of instrument
--- ----------------------- --------------------------------------------
b) Identification GB00B0KWHQ09
code
--- ----------------------- --------------------------------------------
c) Nature of the
transactions Farouq Sheikh (Executive Chairman),
Haroon Sheikh (Chief Executive
Officer) and Michael Hill (Group
Finance Director) (together "Executives")
were, pursuant to the CareTech
Executive Shared Ownership Plan
2012 ("ExSOP"), previously interested
in 285,000, 380,000 and 166,250
Ordinary Shares respectively
(831,250 Ordinary Shares in aggregate),
with their respective interests
in the ExSOP jointly held by
the Company's Employee Benefit
Trust ("EBT").
Following CareTech's announcement
on 22 March 2017, the Executives
served notice, under the terms
of the ExSOP, of their intentions
to "swap out" their respective
interests in the Ordinary Shares
previously jointly held with
the EBT, such that the Executives
have taken sole ownership of
Ordinary Shares as described
in 4d) below.
--- ----------------------- --------------------------------------------
d) Price(s) and Farouq Sheikh - 153,919 Ordinary
volume(s) Shares
Haroon Sheikh - 205,226 Ordinary
Shares
Michael Hill - 89,786 Ordinary
Shares
Price: 351 pence per Ordinary
Share (as determined under the
ExSOP rules)
--- ----------------------- --------------------------------------------
d) Aggregated information N/A
- Aggregated
volume
- Price
--- ----------------------- --------------------------------------------
e) Date of the 22 March 2017
transactions
--- ----------------------- --------------------------------------------
f) Place of the Outside a trading venue
transaction
--- ----------------------- --------------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------------
a) Names Cosaraf Trust
--- ----------------------- ---------------------------------------
2 Reason for the notification
--- ----------------------------------------------------------------
a) Position/status Farouq Sheikh and Haroon Sheikh,
Executive Chairman and Chief
Executive Officer of the Company
respectively and PDMRs, are trustees
of the Cosaraf Trust and, as
such, the Cosaraf Trust is classified
as a PCA for the purposes of
the EU Market Abuse Regulation.
--- ----------------------- ---------------------------------------
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
--- ----------------------- ---------------------------------------
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 Ordinary Shares of 0.5 pence
of the financial each
instrument,
type of instrument
--- ----------------------- ---------------------------------------
b) Identification GB00B0KWHQ09
code
--- ----------------------- ---------------------------------------
c) Nature of the Sale of Ordinary Shares
transactions
--- ----------------------- ---------------------------------------
d) Price(s) and Volume(s):
volume(s) 2,061,091 Ordinary Shares
Price:
355 pence per Ordinary Share
--- ----------------------- ---------------------------------------
d) Aggregated information N/A
- Aggregated
volume
- Price
--- ----------------------- ---------------------------------------
e) Date of the 23 March 2017
transactions
--- ----------------------- ---------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction (XLON)
--- ----------------------- ---------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------
a) Names Shokat Akbar, Fazl Syed, Charlotte
Smith, Andrew Lee, John Ivers,
Junaid Bajwa, Nasir Quraishi,
Wahid Cockar
--- ----------------------- ------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------
a) Position/status The individuals in 1a) above
are all classified as PDMRs of
the Company
--- ----------------------- ------------------------------------
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
--- ----------------------- ------------------------------------
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 Ordinary Shares of 0.5 pence
of the financial each
instrument,
type of instrument
--- ----------------------- ------------------------------------
b) Identification GB00B0KWHQ09
code
--- ----------------------- ------------------------------------
c) Nature of the
transactions Purchase of Ordinary Shares
--- ----------------------- ------------------------------------
d) Price(s) and Shokat Akbar - 2,816 Ordinary
volume(s) Shares
Fazl Syed - 14,084 Ordinary Shares
Charlotte Smith - 1,408 Ordinary
Shares
Andrew Lee - 3,098 Ordinary Shares
John Ivers - 3,385 Ordinary Shares
Junaid Bajwa - 7,042 Ordinary
Shares
Nasir Quraishi - 2,816 Ordinary
Shares
Wahid Cockar - 2,816 Ordinary
Shares
Price: all purchases completed
at 355 pence per Ordinary Share
--- ----------------------- ------------------------------------
d) Aggregated information N/A
- Aggregated
volume
- Price
--- ----------------------- ------------------------------------
e) Date of the 23 March 2017
transactions
--- ----------------------- ------------------------------------
f) Place of the London Stock Exchange, AIM Market
transaction (XLON)
--- ----------------------- ------------------------------------
Name of authorised official of issuer responsible for making notification:
Michael Hill
Company Secretary to CareTech Holdings PLC
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROILXLFLDXFLBBF
(END) Dow Jones Newswires
March 23, 2017 09:45 ET (13:45 GMT)
1 Year Caretech Chart |
1 Month Caretech Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
