Response to outcome of FCA criminal prosecutions

RNS Number : 5109B

Redcentric PLC

14 February 2022

 

Redcentric plc

Statement in response to outcome of FCA criminal prosecutions

Redcentric plc (the "Company") notes the outcome of the criminal prosecutions by the Financial Conduct Authority ("FCA") of three former employees in relation to historical accounting misstatements contained in announcements issued by the Company in 2015 and 2016. The Company is pleased to note that those responsible have been held accountable and that the FCA's investigation and prosecutions have now reached their conclusion.

The Company gave its full support and cooperation to the FCA throughout its investigation and prosecution of the individuals. The Company also reached a settlement with the FCA in 2020 and compensated affected shareholders through a restitution scheme amounting to approximately £9m.

The Company has made wholesale changes to its board of directors and management team since 2016 and they have worked to transform the Company, including overhauling the Company's accounting structures, controls and governance processes and optimising its products, platforms and networks. With a modern, resilient and growing business, the Company looks forward to continuing the positive progress it has made into 2022 and beyond.

Enquiries:

Redcentric plc                                                                                                               [phone] 

Peter Brotherton, Chief Executive Officer 

David Senior, Chief Financial Officer   

finnCap Ltd - Nomad and Broker  [phone]

Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance)

Andrew Burdis / Sunila de Silva (ECM)   

 

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