Logistics Development Group PLC - London-based Investment company formerly known as Eddie Stobart Logistics PLC - Buys 974,130 ordinary shares in Caretech Holdings PLC at an average price of GBP6.95 per share, paying a total of GBP6.8 million. Says that following the transaction it is interested in 1.9 million Caretech shares, representing 1.7% of Caretech's share capital.
London-based social care services provider Caretech, separately, says that the date for the consortium to make an offer for the entire issued, and to be issued, share capital of Caretech has been extended to May 2, 17:00 GMT.
In early March, the family office of the Sheikh brothers, who founded CareTech, confirmed it was in the "early stages" of forming a consortium to consider making an offer for the share capital of CareTech.
Logistics Development's current stock price: 16.06 pence, up 0.7% on Friday
12-month change: up 29%
Caretech's current stock price: 710.52 pence, up 2.7% on Friday
12-month change: up 34%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Logistics Dev (LDG)