Completion of Restitution Scheme

RNS Number : 8353H

Redcentric PLC

08 December 2020

 

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	[phone]
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM)	[phone]

 

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