Panmure Gordon, a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted on behalf of CareTech Holdings PLC ("CareTech" or "the Company"), a pioneering provider of specialist social care services in the UK, in placing 10 million new ordinary shares at 210p per share with new and existing investors, raising £21m gross.

Caretech initially set out to raise £15.0m, however, the size of the fundraising increased due to strong demand levels. Completion of the placing is subject to shareholder approval.