REG - Logistics Dev Grp - Investment

Logistics DevelopmentAnnouncement

10/03/2022 07:01

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RNS Number : 2705E  Logistics Development Group PLC  10 March 2022

10 March 2022

 

Logistics Development Group plc

 

("LDG" or the "Company")

 

Investment

 

LDG is pleased to announce that it has acquired 1,000,000 ordinary shares in
Caretech Holdings PLC ("Caretech") (LON:CTH) at £6.335 per share, for a total
cash consideration of £6,347,671. This is the Company's first investment
since becoming an Investing Company and is consistent with its investing
policy, as amended after the General Meeting held on 31 January 2022 and
results in the Company owning approximately 0.88 per cent of Caretech's issued
share capital.

 

Caretech is a provider of social care and support services for individuals
with special and complex needs in the United Kingdom. The company operates in
three segments: Adults Services, Children's Services, and Foster Care.

 

For the twelve-month period ending 30 September 2021, Caretech reported net
assets of £380,917,000 and net profits of £35,328,000.

 

 

For enquiries:

 

 Logistics Development Group plc     Via FTI Consulting
 FTI Consulting                      +44 (0) 20 3727 1340

 Nick Hasell

 Alex Le May

 Cally Billimore

 Strand Hanson Limited               +44 (0) 20 7409 3494

 (Financial and Nominated Adviser)

 James Spinney

 James Dance

 Abigail Wennington

 Investec Bank plc                   +44 (0) 20 7597 5970

 (Broker)

 Gary Clarence

 Harry Hargreaves

 

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