17 Oct 2017 11:37
For immediate release | 17 October 2017 |
CareTech Holdings PLC
("CareTech" or the "Company")
Grant of Sharesave Options
CareTech Holdings PLC (AIM: CTH), a leading provider of specialist social care services in the UK, announces that, on 13 October 2017, it granted options in aggregate over 254,681 ordinary shares of 0.5 pence in the Company ("Options") pursuant to the CareTech Holdings Plc Sharesave Scheme 2017 ("Sharesave 2017").
The three year contract start date of the Options is 1 December 2017. The Options are exercisable at a price of 308 pence per share between 1 December 2020 and 31 May 2021 and are not subject to any performance conditions. The exercise price has been determined in accordance with the valuation methodology agreed with HM Revenue & Customs and the rules in relation to Sharesave schemes.
Farouq Sheikh, CareTech's Executive Chairman, commented: "We created the Caretech Sharesave Scheme last year to provide a risk-free, Government-supported method for all our staff to have the opportunity to participate in the Company's equity. Last year, more than 200 members of staff chose to join the scheme, which forms part of CareTech's staff retention strategy. We are particularly pleased that in this second year of the scheme more than 250 members of staff have chosen to participate and it is our intention to launch further Sharesave schemes in future."
For further information, please contact:
CareTech Holdings PLC Farouq Sheikh, Executive Chairman Michael Hill, Group Finance Director | 01707 601 800 |
Buchanan (PR Adviser) Mark Court Sophie Cowles Stephanie Watson | 020 7466 5000 |
Panmure Gordon (Nomad and Joint Broker) Freddy Crossley Peter Steel Charles Leigh-Pemberton | 020 7886 2500 |
WH Ireland (Joint Broker) Adrian Hadden James Bavister | 020 7220 1666 |
About CareTech
CareTech Holdings plc is a leading provider of specialist social care services, supporting adults and children with a wide range of complex needs in more than 260 specialist services around the UK.
Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways through five divisions covering adult learning disabilities, specialist services, young people residential services, foster care and learning services which come under the two outcome-based sectors of Adult Services and Young People Services.
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. Its property portfolio comprises more than 200 properties.
For further information please visit: www.caretech-uk.com.