Restitution Scheme Update

RNS Number : 2421G

Redcentric PLC

24 November 2020

 

Redcentric plc

Restitution Scheme Update

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT managed services provider, announces that since 2 November 2020, the date on which the Company last provided an update on settlements under the Scheme, it has made the following Restitution Payments pursuant to the Scheme announced by the Company on 26 June 2020.

Number of Net Relevant Share Purchases the subject of Restitution Payments:	747,017
Number of Ordinary Shares allotted:	26,575
Cash payments:	£97,422.44

  The allotment of Ordinary Shares has been made through the issue of New Ordinary Shares.

As a result, the Company's issued share capital now consists of 155,698,333 Ordinary Shares, 37,569 of which are held in Treasury. For reporting under the FCA's Disclosure Guidance and Transparency Rules, shareholders should exclude any Ordinary Shares held in Treasury and should use the figure of 155,660,764 Ordinary Shares (the issued voting share capital) when determining if they are required to notify their interest, or a change of their interest in the Company.

Following the Restitution Payments set out above, the total number of Net Relevant Share Purchases the subject of Restitution Payments or settled pursuant to the Settlement Deed are 15,952,335 and the aggregate Restitution Payments made to date pursuant to the Scheme and the Settlement Deed are 1,125,590 Ordinary Shares allotted and £1,465,894.32 in cash payments.

Whilst the Restitution Scheme is now closed, the processing of claims is still ongoing, with the final claims expected to be settled by early December 2020.

Defined terms used in this announcement have the meanings ascribed to them in the circular to shareholders dated 26 June 2020 unless otherwise defined.

Enquiries:

Redcentric plc Peter Brotherton, Chief Executive Officer David Senior, Chief Financial Officer	[phone]
finnCap Ltd - Nomad and Sole Broker Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance) Andrew Burdis / Sunila de Silva (ECM)	[phone]

 

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