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CareTech Holdings (CTH)

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Monday 21 September, 2020

CareTech Holdings

Grant of Share Options

RNS Number : 5085Z
CareTech Holdings PLC
21 September 2020
 

For immediate release    21 September 2020

 

 

CareTech Holdings PLC

("CareTech" or the "the Group")

 

Grant of Share Options

 

CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care and education services for adults and children in the UK, announces that on 15 September 2020, it granted options in aggregate over 480,678 ordinary shares of 0.5 pence in the Company ("Options") pursuant to the CareTech Holdings Plc Sharesave Scheme 2020 ("Sharesave 2020").


The three year contract start date of the Options is 1 November 2020. The Options are exercisable at a price of 355 pence per share between 1 November 2023 and 30 April 2024 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.

 

Within the Options described above, the following Options were granted to Directors:

Name and position

Options under the Sharesave scheme

Farouq Sheikh*, Chairman

5,070

Haroon Sheikh*, Chief Executive Officer 

5,070

Christopher Dickinson, Group Finance Director** 

5,070

 

*  Farouq Sheikh and Haroon Sheikh are jointly the beneficiaries of a total of 12,857,009 ordinary shares in the Company (held by in Westminster Holdings Limited, Cosaraf Trust and Cosaraf Pension Fund) and are interested in a further 640,000 ordinary shares pursuant to the Executive Shared Ownership Plan 2016 and 800,000 ordinary shares 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).

** Christopher Dickinson is also interested in 155,250 ordinary shares in the Company pursuant to the Executive Share Ownership Plan 2019 (which are scheduled to vest in November 2022 and are subject to the fulfilment of vesting criteria).

The Company will, in due course, apply for a block listing in relation to the admission to trading on AIM of new ordinary shares issued pursuant to exercise of the Options.

Farouq Sheikh, CareTech's Executive Chairman, commented:  "This is our 4th year of providing our Sharesave scheme to staff. We created the Caretech Sharesave Scheme to provide a risk-free, Government-supported method for all our staff to have the opportunity to participate in the Company's equity. We are particularly pleased that staff have chosen to participate in the scheme this year and they will become shareholders in the Group."

 

 

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 4,500 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 10,000 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; and Foster care.

 

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

 

 

 


 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

1.  Farouq Sheikh - Executive Chairman

2.  Haroon Sheikh - Chief Executive Officer

3.  Christopher Dickinson - Group Finance Director

2

 

Reason for the notification

 

a)

 

Position/status

 

See 1(a) above for all positions - all classified as PDMRs of the Company

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

CareTech

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

 

 

Options over ordinary shares of 0.5p each

 

GB00B0KWHQ09

b)

 

Nature of the transaction

 

 

Grant of Options pursuant to Sharesave 2020

 

c)

 

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

1.  355 pence

2.  355 pence

3.  355 pence

1.  5,070

2.  5,070

3.  5,070

 

 

d)

 

Aggregated information

 

- Aggregated volume

- Price

 

 

15,210 in aggregate

All at 355 pence

e)

 

Date of the transaction

 

15 September 2020

f)

 

Place of the transaction

 

London Stock Exchange

 

 

 

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