Acquisition
Updated : 07:05
16 November 2020
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
CIP Merchant Capital is pleased to announce that, further to its announcement of 23 April 2019, it has made a further investment in CareTech Holdings Plc ("CareTech"), a leading provider of specialist social care and education services to adults and children in the UK.
The Company has bought, in aggregate, 441,973 ordinary shares in CareTech for a total consideration of approximately £2.0 million, resulting in the Company being interested in, when taking into account CareTech shares already held by the Company, approximately 1.23% of CareTech's issued share capital.
CareTech, which is quoted on AIM, had net assets of £353 million as at 31 March 2020 and, in the year ended 30 September 2019, had income attributable to its shareholders of £20.1 million.
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager) Wikus van Schalkwyk
| +44 1481 749363 |
Strand Hanson Limited (Financial & Nominated Adviser and Broker) Richard Tulloch / James Bellman | +44 20 7409 3494 |
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.
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