DBAY Advisors Limited made an offer to acquire remaining 98.21% stake in CareTech Holdings PLC (AIM:CTH) for approximately €860 million on April 1, 2022. DBAY submitted an indicative proposal to CareTech regarding a possible all cash offer of 750 pence per CareTech share. The possible offer includes a partial non-voting share alternative to allow shareholders to roll-over some of their investment and retain an interest in CareTech's future should they choose to do so (the "Alternative Offer").

The Alternative Offer is limited to 30% of the issued capital. The Independent Directors of CareTech advise shareholders to take no action. As of April 29, 2022, DBAY is required to announce a firm intention to make an offer or to announce that it does not intend to make an offer for CareTech, by not later than May 30, 2022, with an option to be further extended.

As of May 30, 2022, the deadline has been extended to announce a firm intention to make an offer or to announce that it does not intend to make an offer for CareTech by June 27, 2022. Emma Earl, Freddy Crossley, Charles Leigh-Pemberton, James Sinclair-Ford, Mark Rogers of Panmure Gordon and Jonathan Wilcox, James Black, Alec Pratt and Duncan Monteith of Numis acted as financial advisor for CareTech.