Examples of CareTech Directors in a sentence
The CareTech Directors believe the Transaction will be significantly accretive to CareTech's earnings in the first full financial year following Completion, with a return on invested capital above CareTech's cost of capital in the first full financial year following Completion.
For the purpose of Rule 28 of the Takeover Code, the Quantified Financial Benefits Statement contained in this Announcement is the responsibility of CareTech and the CareTech Directors.
Through the combination, Cambian would be able to leverage CareTech's highly developed recruitment and retention functions, which have contributed to CareTech achieving staff turnover rates of 21 per cent., which, the CareTech Directors believe, is substantially better than the sector average.
All property shall be packaged and attached to the Pre-Booking Record.
The CareTech Directors believe that CareTech's fostering services across mainstream, specialist, and family assessments would reinforce the therapeutic services provided by Cambian.
The CareTech Directors have received financial advice from Jefferies in relation to the Transaction.
The CareTech Directors anticipate a combination of CareTech and Cambian will deliver significant synergies, allow continuation of aligned strategies and sharing of best practices and optimise investments in strategic initiatives.
In addition to the irrevocable undertakings from the CareTech Directors: • CareTech and Cambian have received an irrevocable undertaking from Stichting Value Partners Family Office; and • CareTech has received an irrevocable undertaking from Liontrust, to vote in favour of the CareTech Resolutions at the CareTech General Meeting in respect of 20,731,157 CareTech Shares representing, in aggregate, approximately 27.4 per cent.
Pursuant to this, the CareTech Directors have identified recurring pre-tax cost synergies of approximately £6 million per annum, with approximately £3 million expected to be realised in the financial year ending 30 September 2019, £5 million in the financial year ending 30 September 2020 and the full £6 million in the financial year ending 30 September 2021.
In arriving at the estimate of synergies set out in this Announcement, the CareTech Directors have assumed that there will be no significant impact on the business of the Enlarged Group.