8th Dec 2020 07:00
Redcentric plc
Completion of Restitution Scheme
Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, announces that since 30 November 2020, the date on which the Company last provided an update on settlements under the Scheme, it has made the following Restitution Payments pursuant to the Scheme announced by the Company on 26 June 2020.
Number of Net Relevant Share Purchases the subject of Restitution Payments: | 29,498,075 |
Number of Ordinary Shares allotted: | 82,508 |
Cash payments: | £4,912,002 |
The allotment of Ordinary Shares has been made through the issue of New Ordinary Shares.
As a result, the Company's issued share capital now consists of 155,886,987 Ordinary Shares, 37,569 of which are held in Treasury. For reporting under the FCA's Disclosure Guidance and Transparency Rules, shareholders should exclude any Ordinary Shares held in Treasury and should use the figure of 155,849,418 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.
Following the Restitution Payments set out above, all valid claims have now been settled and the Restitution Scheme has now concluded. The final number of settlements under the Scheme is as follows:
Number of Net Relevant Share Purchases the subject of Restitution Payments: | 47,727,684 |
Number of Ordinary Shares allotted: | 1,314,244 |
Cash payments: | £6,649,815.08 |
Peter Brotherton, CEO, commented: "We are pleased that the restitution scheme was so effective, with holders of nearly 80% of eligible share purchases making a successful claim. Now that the FCA investigation and restitution scheme are both fully concluded, we look forward to focusing solely on operating and growing the business to deliver maximum shareholder value."
Defined terms used in this announcement have the meanings ascribed to them in the circular to shareholders dated 26 June 2020 unless otherwise defined.
Enquiries:
Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer
| +44 (0)800 983 2522 |
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM) | +44 (0)20 7220 0500 |
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