t
Redcentric plc announced on 2 July 2026 that the Court sanctioned its proposed Capital Reduction at a hearing held on 30 June 2026. This Capital Reduction is expected to become effective on or prior to 3 July 2026 upon registration by the Registrar of Companies and will not change the number of shares admitted to trading. It is required to enable a proposed return of up to £90 million in cash to shareholders via a tender offer.
| Date | 2 Jul 2026 |
| Time | 07:00:02 |
| Category | Corporate updates |
| ID | 6962K |
2 July 2026
Redcentric plc
('Redcentric', the 'Company' or the 'Group')
Update on Capital Reduction
Redcentric plc (LSE: RCN), a leading UK IT managed services provider ('MSP'), announces that following the Final Court Hearing held on 30 June 2026 in connection with the proposed Capital Reduction, as described in the circular to Shareholders published on 24 April 2026, the Court has now sanctioned the Capital Reduction.
As previously announced, completion of the Capital Reduction is required to enable the proposed return of up to £90 million in cash to Shareholders by way of a tender offer (the 'Tender Offer'), full details of which were set out in the circular to Shareholders published on 19 June 2026.
The Capital Reduction will become effective on registration of the Court Order and accompanying statement of capital by the Registrar of Companies in England and Wales, expected to be on or prior to 3 July 2026. The number of shares admitted to trading will be unchanged by the Capital Reduction.
The Company will make a further announcement confirming the effective date of the Capital Reduction, including the final Tender Offer timetable.
Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as defined in the Circular posted to Shareholders on 24 April 2026.
- Ends -
For further information:
|
Redcentric plc Richard McGuire, Chairman Michelle Senecal De Fonseca, CEO Tim Sykes, CFO |
via Burson Buchanan |
|
Cavendish Capital Markets Limited - Nomad and Broker Marc Milmo / Callum Davidson (Corporate Finance) Andrew Burdis / 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.
The Company's MSP division serves the private and public sectors with all their IT requirements. The MSP division acts 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