24th Jun 2016 06:46
LONDON (Alliance News) - MXC Capital Ltd said it has sold 5.8 million shares in Redcentric PLC at a price of 180 pence, raising GBP10.4 million.
Shares in Redcentric last closed at 180.82 pence.
MXC was an original shareholder in Redcentric at the time of its demerger from Redstone PLC, and subsequent initial public offering, and said it has supported Redcentric in finding and executing merger and acquisition opportunities.
Its original cost of MXC's investment was GBP3.4 million, hence the disposal will result in a gain of GBP7.04 million.
Following the sale, MXC holds 49,108 shares and 8.7 million options over shares in Redcentric.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
RedcentricMXCP.L