January 23, 2019 Movers & Shakers

Care Tech Holdings PLC Board Appointment

CareTech Holdings PLC, a pioneering provider of specialist social care services in the UK, announces that, further to the Company’s announcement on 10 December 2018, Gareth Dufton has been appointed to the Company’s Board as Interim Group Finance Director with immediate effect.

Mr Dufton is a former partner of Moore Stephens LLP, the top 10 City based accountants where he played a key role in client liaison, undertaking a mix of audit, tax and corporate finance where he worked between 2000 and 2007. He has experience working with both privately owned businesses and public companies assisting in raising finance, acquisitions and disposals.

Mr Dufton has been involved in CareTech since 2000 initially advising as part of Moore Stephens and from 2007 working directly with the Company in a variety of roles, including acting as Associate Finance Director between 2009 and 2016. Over the years, Mr Dufton has provided ongoing support to CareTech at a senior level with financial matters including: acquisitions (including the recent acquisition of Cambian), equity raisings, renewal of debt facilities, share placements and disposals of properties and businesses.

Since 2016 Mr Dufton has served as Chief Financial Officer of Sheikh Holdings, a private family office founded by Farouq and Haroon Sheikh, which comprises of three major business streams: property investment, property development and private equity investment. Mr Dufton is a chartered accountant, having been admitted as a member of the ICAEW in 2001 and as a Fellow in 2013 and has a first-class degree in accounting from the University of Hertfordshire.

Farouq Sheikh, Executive Chairman of CareTech, commented:

“We are fortunate to have in Gareth an experienced accountant with a deep understanding of our business, its systems and people and is able to step in following the tragic death of Michael Hill. We are grateful to Gareth for supporting the business at this crucial stage.”

Update on additional Board changes
As stated in the Company’s prospectus produced in connection with the acquisition of Cambian Group plc, the Company intends to add two independent non-executive directors to its Board. This process has taken longer than originally hoped however the Board is pleased with the calibre of candidates it has met to date and is confident that these appointments can be made in the coming months.

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