8 Jun 2022 15:54
For immediate release |
| 8 June 2022 |
CareTech Holdings PLC
("CareTech" or "the Company")
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, in accordance with the PDMR Dealing announcement of 3 August 2021, 9,297,864 shares held by 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 been 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.
As stated on 3 August 2021, the transfer does 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, which is as follows:
No. of ordinary shares | % of issued share capital | |
Belgravia Investments Limited | 4,648,932 | 4.1% |
Kensington Capital Limited | 4,648,932 | 4.1% |
Sheikh Ventures Limited1 | 1,392,145 | 1.2% |
Grosvenor (UK) Limited2 | 1,250,000 | 1.1% |
Cosaraf Pension Fund | 230,000 | 0.2%
|
Total | 12,170,009 | 10.7% |
1 Sheikh Ventures Limited is a 100% owned subsidiary of Sheikh Holdings Group (Investments) Limited, which is wholly owned by Haroon Sheikh and Farouq Sheikh OBE and their immediate family.
2 Grosvenor (UK) Limited is a 100% owned subsidiary of Sheikh Holdings Group (Investments) Limited, which is wholly owned by Haroon Sheikh and Farouq Sheikh OBE and their immediate family, and is beneficially interested in these shares via a Contract for Difference which was effected at a price of 402 pence per share.
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). These 1,440,000 shares are held by Computershare Trustees (Jersey) Limited which is CareTech Holdings PLC's employee benefit trust.
Mr F Sheikh and Mr H Sheikh also hold 227,988 and 256,487 options respectively pursuant to the Company's Long Term Incentive Plan and 5,070 options each pursuant to the Company's Sharesave Scheme.
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 and education services, supporting around 5,000 adults and children with a wide range of complex needs in more than 550 residential facilities and specialist schools around the UK and employing approximately 11,500 staff.
Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways covering; Adult learning disabilities and specialist services; Children's residential and education services; Foster care 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 and persons closely associated with them
Details of the person discharging managerial responsibilities/person closely associated | ||||||||
a) | Name: | Westminster Holdings Limited (Farooq Sheikh/Haroon Sheikh) | ||||||
2. | Reason for the notification | |||||||
a) | Position/status: | Executive Chairman Chief Executive Officer
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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 instrument: Identification code: | Ordinary shares of 0.5 pence each GB00B0KWHQ09 | ||||||
b) | Nature of the transaction: | Share transfer to Belgravia Investments Limited and Kensington Capital Limited | ||||||
c) | Price(s) and volume(s): |
| ||||||
d) | Aggregated information: · Aggregated volume: · Price: |
| ||||||
e) | Date of the transaction: | 17 May 2022 | ||||||
f) | Place of the transaction: | London | ||||||
Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: | Belgravia Investments Limited (Farooq Sheikh/Haroon Sheikh) | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Executive Chairman Chief Executive Officer
| ||||
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 instrument: Identification code: | Ordinary shares of 0.5 pence each GB00B0KWHQ09 | ||||
b) | Nature of the transaction: | Share transfer from Westminster Holdings Limited | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | n/a
| ||||
e) | Date of the transaction: | 17 May 2022 | ||||
f) | Place of the transaction: | London | ||||
Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: | Kensington Capital Limited (Farooq Sheikh/Haroon Sheikh) | ||||
2. | Reason for the notification | |||||
a) | Position/status: | Executive Chairman Chief Executive Officer
| ||||
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 instrument: Identification code: | Ordinary shares of 0.5 pence each GB00B0KWHQ09 | ||||
b) | Nature of the transaction: | Share transfer from Westminster Holdings Limited | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: · Aggregated volume: · Price: | n/a
| ||||
e) | Date of the transaction: | 17 May 2022 | ||||
f) | Place of the transaction: | London | ||||