LONDON, UK: Logistics Development Group plc (LDG) has acquired 1,000,000 ordinary shares in Caretech Holdings (LON:CTH) at £6.335 per share, for a total cash consideration of £6,347,671.
This is the Logistics Development Group’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.