CIP Merchant Capital Ltd Investment in CareTech Holdings plc & Orthofix (7060W)
April 23 2019 - 1:00AM
UK Regulatory
TIDMCIP
RNS Number : 7060W
CIP Merchant Capital Ltd
23 April 2019
23 April 2019
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
Fifth Investment - CareTech Holdings plc
and
Further investment in Orthofix
CareTech Holdings plc
CIP Merchant Capital is pleased to announce its investment in
CareTech Holdings plc ("CareTech"), a leading provider of
specialist social care services supporting adults and children with
a wide range of complex needs in more than 250 specialist service
centres around the UK. The Company has acquired, in aggregate,
950,000 ordinary shares in CareTech for a total consideration of
approximately GBP3.2 million.
In the year ended 30 September 2018, CareTech had net income
attributable to its shareholders of GBP26.5 million and as at 30
September 2018 had net assets of GBP208 million.
CareTech now constitutes the Company's fifth portfolio
company.
Orthofix Medical Inc.
The Company has also acquired a further 6,000 common stock in
Orthofix Medical Inc. ("Orthofix"), the NASDQ listed medical
devices company, for a total consideration of approximately
US$315,000. These shares were purchased in addition to the 9,000
common stock purchased on 11 and 12 March 2019, as noted in the
Company's announcement of 1 April 2019, for a total consideration
of US$499,000.
Following these further acquisitions of common stock, CIP
Merchant Capital is now interested in 112,000 common stock of
Orthofix.
In the year ended 31 December 2018 Orthofix had net income of
US$13.8 million and as at 31 December 2018 had net assets of
US$335.4 million.
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager)
Marco Fumagalli +41 91 225 25
Carlo Sgarbi 60
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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contact rns@lseg.com or visit www.rns.com.
END
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