Issue of Equity

RNS Number : 6227H

Redcentric PLC

24 June 2013

 

Redcentric plc

("Redcentric" or the "Company")

Issue of Equity

Redcentric plc (AIM: RCN), a leading mid-market Network-Based Managed Services ICT business, announces that it has issued and allotted 8,873 ordinary shares of 0.1 pence each ("Ordinary Shares") to shareholders who held fractional entitlements of Ordinary Shares following the demerger of the businesses which form Redcentric from Redstone plc ("the Demerger").

Application has been made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 27 June 2013. Following Admission, the total number of voting rights in Redcentric will be 62,377,120 Ordinary Shares. This number may be used by shareholders 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 Company under the FSA's Disclosure and Transparency Rules.

Enquiries:

Redcentric plc Tony Weaver, Chief Executive Peter Hallett, Chief Financial Officer	Tel. [phone]
finnCap - NOMAD & Broker Charlotte Stranner/ James Thompson	Tel. [phone]
MXC Capital Advisory LLP Marc Young	Tel. [phone]
Newgate Threadneedle Josh Royston / Hilary Millar	Tel. [phone]]

About Redcentric

Redcentric was incorporated on 11 February 2013. The business of the Redcentric Group is made up of the demerged Managed Services components of the Redstone Group, as enhanced by the acquisition of Maxima in November 2012. The acquisition of Maxima augmented the network assets owned by Redstone, including its connectivity, Cloud and hosting capabilities with a well regarded mid-market business specialising in ICT managed services, managed security, unified communications and Cloud services. Further, the acquisition provides the Redcentric Group with an enhanced onshore and offshore 24 hour/365 day support function to underpin its service level agreements. The combined businesses enjoy a scale that has enhanced their presence in the marketplace and provided an enlarged customer base to cross-sell a broad suite of well regarded and supported services.

Business Overview

Redcentric offers a wide range of Network-Based Managed Services solutions summarised below including:

·     Managed Security Services

·     Connectivity Solutions

·     Unified Communications Solutions

·     Hosted Applications / Cloud Services

·     Physical and Virtual Data Centre Services

·     ICT Project and Hardware Maintenance Services

These services are supported 24 hours a day 365 days a year. The Directors believe that the strength of the Company's support function is a key differentiating feature that makes its services more attractive than many of its smaller competitors, while the innovative nature of its solutions offers flexibility to meet clients' needs in a way that larger rivals are sometimes unable to match.

Capitalised terms used in this announcement but not defined have the meanings given to them in the Admission Document published by Redcentric, which is available on the Company's website www.redcentricplc.com.

 

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