Share Buyback Programme
Summary by AI BETAClose X
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the 'UK MAR') which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
29 October 2026
Redcentric plc
(‘Redcentric’, the ‘Company’ or the ‘Group’)
Share Buyback Programme
Redcentric plc (AIM: RCN), a leading UK IT managed services provider (‘MSP’), announces its intention to launch a share buyback programme of ordinary shares of 0.1p in the capital of the Company (‘Ordinary Shares’) for a total value of up to £1.5 million (the ‘Buyback Programme’). The Buyback Programme forms part of the Group's broader strategy to deliver shareholder value.
The Buyback Programme will be independently managed by Cavendish Capital Markets Limited, the Company's broker, which will make trading decisions independently and without the influence of the Company. Shares purchased under the Buyback Programme will continue to take place in open-market transactions and may be made from time to time depending on market conditions, share price and trading volumes.
The Buyback Programme is in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares which was granted at the Annual General Meeting held on 22 October 2026 (the ‘Authority’). The maximum price paid per Ordinary Share is to be no more than an amount equal to the higher of:
- 105 per cent. of the average middle market closing price of an Ordinary Share for the five business days preceding the date of purchase; and
- the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share.
The Buyback Programme will commence today and will continue until 11 December 2026 in accordance with the Authority.
Any Ordinary Shares acquired as a result of the Buyback Programme will be held in treasury and be announced to the market without delay.
Due to the limited liquidity in the issued Ordinary Shares, any Buyback of Ordinary Shares pursuant to the Authority on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and may exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the Company will not benefit from the exemption contained in this Article.
- Ends -
Enquiries:
|
Redcentric plc Michelle Senecal De Fonseca, CEO Tim Sykes, CFO |
via Burson Buchanan |
|
Cavendish Capital Markets Limited - Nomad and Broker Marc Milmo / Callum Davidson (Corporate Finance) Sunila de Silva (ECM) |
Tel: +44 (0) 20 7220 0500 |
For media enquiries:
|
Burson Buchanan – Financial Communications Henry Harrison-Topham / Jamie Hooper / Toto Berger |
Tel: +44 (0) 20 7466 5000 |
Notes to Editors:
Redcentric has a strong track record in delivering IT managed services provision that empowers businesses to scale, innovate and grow in a rapidly evolving digital landscape. As technology continues to advance the Company's goal is to be the go-to-all-in-one infrastructure and managed IT service provider for customers of all sizes offering an unmatched range of products and solutions.
Redcentric serves the private and public sectors with all their IT requirements acting as an outsourced IT department, handling day-to-day maintenance and security of customers' IT infrastructures. This allows customers to improve security and efficiency and focus on growing their core businesses.
From infrastructure management and cloud services to cybersecurity and data analytics, Redcentric has a comprehensive suite of solutions designed to meet the diverse needs of modern businesses.
For additional information please visit www.redcentricplc.com
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