CIP Merchant Capital Ltd Investment in CareTech Holdings plc & Orthofix (7060W)

TIDMCIP

RNS Number : 7060W

CIP Merchant Capital Ltd

23 April 2019

23 April 2019

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Fifth Investment - CareTech Holdings plc

and

Further investment in Orthofix

CareTech Holdings plc

CIP Merchant Capital is pleased to announce its investment in CareTech Holdings plc ("CareTech"), a leading provider of specialist social care services supporting adults and children with a wide range of complex needs in more than 250 specialist service centres around the UK. The Company has acquired, in aggregate, 950,000 ordinary shares in CareTech for a total consideration of approximately GBP3.2 million.

In the year ended 30 September 2018, CareTech had net income attributable to its shareholders of GBP26.5 million and as at 30 September 2018 had net assets of GBP208 million.

CareTech now constitutes the Company's fifth portfolio company.

Orthofix Medical Inc.

The Company has also acquired a further 6,000 common stock in Orthofix Medical Inc. ("Orthofix"), the NASDQ listed medical devices company, for a total consideration of approximately US$315,000. These shares were purchased in addition to the 9,000 common stock purchased on 11 and 12 March 2019, as noted in the Company's announcement of 1 April 2019, for a total consideration of US$499,000.

Following these further acquisitions of common stock, CIP Merchant Capital is now interested in 112,000 common stock of Orthofix.

In the year ended 31 December 2018 Orthofix had net income of US$13.8 million and as at 31 December 2018 had net assets of US$335.4 million.

For further information, please contact:

 
Merchant Capital Manager Limited (Investment Manager) 
 Marco Fumagalli                                        [phone] 
 Carlo Sgarbi                                            60 
Strand Hanson Limited (Financial & Nominated Adviser 
 and Broker) 
 Richard Tulloch / James Bellman                        [phone] 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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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April 23, 2019 02:00 ET (06:00 GMT)