CareTech : Board Appointment

For immediate release

23 January 2019

CareTech Holdings PLC

('CareTech' or 'the Company')

Board Appointment

CareTech Holdings PLC (AIM: CTH), 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.

Mr Dufton holds options over ordinary shares in CareTech in aggregate pursuant to the Caretech share schemes:

2009 approved scheme 9,022 shares at an exercise price of 332.5p

2009 unapproved scheme 20,978 shares at an exercise price of 332.5p

2010 unapproved scheme 30,000 shares at an exercise price of 305p

2017 Executive Share Ownership Plan (ExSOP) 75,000 shares

Gareth also owns 23,601 ordinary shares in Caretech.

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.

Further AIM disclosures relating to Gareth Dufton's appointment:

Gareth Norman Dufton, age 43, is currently or has been a director of the following companies within the past five years:

Current directorships	Previous directorships
Aequitas Estates (Hoddesdon) Limited	Aequitas Estates (Poyle) Limited
Aequitas Estates (Maidstone) Limited	Ardrich New Homes Limited
Aequitas Estates (Midlands No.2) Limited	Buraq Retail (Potbelly) Reading Limited
Aequitas Estates (Moulton Park) Limited	Buraq Retail Limited
Aequitas Estates (Raunds No2) Limited	Goresbrook Property Limited
Aequitas Estates (Raunds No3) Limited	Halsey Masonic Hall (Waltham Cross) Limited
Aequitas Estates Holdings Limited	Harrow The Hub (Investments) No.2 Limited
Aequitas Estates Limited	Ironville Property Partnership LLP
Aequitas Estates MK1 Limited	Locksbridge Developments (Wick Lane) Limited
Ampersand Apartments Management Company Limited	Locksbridge Estates (Bredbury) Limited
Buraq Retail No 2 Limited	Locksbridge Estates (Bushey) Limited
Cranfield Technology Park Investments Limited	Locksbridge Estates (Edith Grove) Limited
Grosvenor (UK) Limited	Locksbridge Estates (Ilford) Limited
Harrow The Hub (Holdings) Limited	Locksbridge Estates (Investment) Limited
Harrow The Hub Investments Limited	Locksbridge Estates (Sutton) Limited
Locksbridge Capital Limited	Locksbridge Estates Limited
Locksbridge Developments (Braintree) Limited	Meaalofa Developments Holding Limited
Locksbridge Developments (Whyteleaf) No2 Limited	Metanova Limited
Locksbridge Developments Limited	RUH Dental (Notting Hill Gate) Limited
Metropolitan House Investments (U.K.) Limited	Sheikh Couture Limited
Metropolitan House Investments Limited	Solihull Heights Management Company Limited
Peninsula Healthcare (UK) Limited	Tritax Atherstone (UK) Limited
RUH Dental (Manchester) Limited
Sheikh Holdings Group (Investments) Limited
The Chocolate And Coffee Bean Cafe Limited
Three Sixty Holdings Limited
Three Sixty Investments No1 Limited
V7 Mountbatten Limited

Metanova Limited, a company of which Gareth Dufton was a director, appointed a liquidator on 19 March 2008 and was dissolved on 1 June 2012; there was a creditor shortfall of approximately £1.6 million.

Save as set out in this announcement, there are no further matters to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies in respect of Mr Dufton.

For further information, please contact:

CareTech Holdings PLC 01707 601800

Farouq Sheikh, Executive Chairman

Gareth Dufton, Interim Group Finance Director

Buchanan (PR Adviser) 020 7466 5000

Mark Court

Sophie Wills

Tilly Abraham

Panmure Gordon (Nomad and Joint Broker)020 7886 2500

Emma Earl

Freddy Crossley

Charles Leigh-Pemberton

WH Ireland (Joint Broker)020 7220 1666

Adrian Hadden

Chris Viggor

About CareTech

CareTech Holdings plc is a leading provider of specialist social care services, supporting adults and children with a wide range of complex needs in more than 330 specialist services around the UK.

Committed to the highest standards of care and care governance, CareTech provides its innovative care pathways covering adult learning disabilities, specialist services, young people residential services, foster care and learning services.

On 19 October 2018, CareTech acquired Cambian Group, which has a specific focus on children with high acuity, challenging behaviours and complex care requirements. Cambian looks after 2,000 children across a portfolio of 224 residential facilities, specialist schools and fostering offices located in England and Wales.

CareTech, which was founded in 1993, began trading on the AIM market of the London Stock Exchange in October 2005 under the ticker symbol CTH. Its property portfolio comprises more than 200 properties.

For further information please visit:www.caretech-uk.com