Exercise of Options

RNS Number : 7787U

Redcentric PLC

23 January 2017

 

23 January 2017

Redcentric plc

("Redcentric" or the "Company")

Exercise of Options / Total Voting Rights

Redcentric plc (AIM: RCN), a leading UK IT managed services provider, today announces that it has received notification from MXC Capital Limited ("MXC") that it has exercised 1,692,988 options over ordinary shares of 0.1p each in the Company ("Shares") at an exercise price of 32p per Share.

Accordingly, application has been made for 1,692,988 Shares to be admitted to trading on AIM. The new Shares will rank pari passu with the Company's existing Shares and it is expected that admission will become effective and dealings in the new Shares will commence on 26 January 2017 ("Admission").

The options were granted to MXC on 18 April 2013 and are subject to Redcentric share price and volume performance conditions which have been satisfied (being an average weekly volume of over 1.0m Shares over a four week period and a share price in excess of 100p over the same period).

In addition, MXC holds 7,000,000 options granted on 15 November 2013 at an exercise price of 80p. These options can be exercised after 15 November 2016 provided, on the date of exercise, the average mid-market closing price for the preceding ten day period has increased by at least 12% per annum from the date of grant.

Following Admission, the Company will have a total of 148,859,173 Shares in issue with one voting right per share.

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Enquiries:

Redcentric plc                                                                        [phone]

Fraser Fisher, Chief Executive Officer

Peter Brotherton, Chief Financial Officer

Numis Securities Limited - Nomad & Joint Broker             [phone]

Simon Willis / Oliver Hardy / Ben Stoop

finnCap Ltd - Joint Broker                                                    [phone]

Stuart Andrews / Rhys Williams

Tulchan Group                                                                       [phone]

James Macey White / Matt Low

 

END

 

 

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