RCS - HRC World PLC - Admission to Trading on the AQSE Growth Market

Aquis ExchangeAnnouncement

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RNS Number : 8429U  HRC World PLC  11 August 2025

HRC WORLD PLC

("HRC" or "HRC World" the "Company")

 

Admission to Trading on the AQSE Growth Market

 

HRC World, the data centre facilities provider (AQSE:HRC) is pleased to
announce the admission to trading of its ordinary shares of €0.01 each
("Ordinary Shares") to the Aquis Stock Exchange Growth Market Access Category
("AQSE") with effect from 8.00am on 26 August 2025.

 

The Announcement of Application for Admission to the Aquis Growth Market, as
set out in the Aquis Growth Market Rulebook, can be viewed below.

 

Alex George, Executive Director of HRC, commented:

"HRC's admission to the Aquis Stock Exchange marks a significant milestone for
the Company as we enter an exciting new phase in our development. Our data
centre facilities are designed to support critical IT infrastructure, ensuring
exceptional levels of security, uptime, and connectivity to meet the demands
of today's rapidly evolving digital landscape. As we prepare to expand our
network, we are pleased to have secured a trading platform in the UK for our
shareholders and investors that aligns with our own goals.

 

"Our listing on Aquis will also enable us to raise visibility of our
operations internationally and, working with our UK advisers, we plan over the
coming months to develop a more detailed investor relations plan to keep our
shareholders informed of our expansion plans."

 

Enquiries:

 HRC World Plc                                       Tel: +60 37 786 0500

 Ms. Sara Chawankon                                  https://hrcplc.co.uk/

 Optiva Securities Limited (AQSE Corporate Adviser)  Tel: +44 (0) 20 3137 1902

 Mr. Vishal Balasingham

 ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE AQUIS GROWTH MARKET

 APPLICANT NAME:
 HRC World Plc
 APPLICANT REGISTERED OFFICE, PRINCIPAL PLACE OF BUSINESS (IF DIFFERENT) AND
 TELEPHONE NUMBER:
 Eastcastle House, 27/28 Eastcastle Street, London W1W 8DH, United Kingdom
 +60 37 786 0500
 DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE):
 Alex George, Executive Director

 Simon Retter, Non-Executive Chairman

 Dr. Karthigayan, Non-Executive Director

 Dr. Md Khussairiee, Non-Executive Director
 APPLICANT SECTOR:
 Information Technology
 DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES:
 HRC World Plc is a data centre facilities operator specialising in the
 provision of small to medium-scale data centre facilities, server co-location,
 rack rentals, and a comprehensive range of technology infrastructure services.
 HRC stands for High Resiliency Co-Location services, emphasising its focus on
 delivering robust, secure, and highly reliable rack rental and hosting
 solutions. Currently, HRC World operates data centre facilities in Kuala
 Lumpur, Malaysia, strategically positioned to serve both regional and
 international markets, with plans for continued expansion across the
 Asia-Pacific region and beyond.

 HRC World's clientele includes local and international data centre operators,
 service providers, as well as small and medium-sized industries and
 enterprises (SMIs/SMEs). The company's facilities are designed to support
 critical IT infrastructure, ensuring exceptional levels of security, uptime,
 and connectivity to meet the demands of today's rapidly evolving digital
 landscape.

 Additionally, HRC World is actively exploring sustainable innovations for
 potential integration into its business, focusing on renewable energy sources
 such as solar, wind, hydro, and biogas to minimise environmental impact. The
 company is also investigating new energy technologies, including nano-nuclear
 reactors and hydrogen-fuelled generators, demonstrating its commitment to
 advancing green energy solutions and future-proofing its services in alignment
 with global sustainability trends.

 The Company intends to pay dividends when it is commercially prudent to do so.

 Risk Factors

 The principal risk factors associated with the Company from Admission are set
 out below.

 HRC's business is dependent on the technical and operational resilience of its
 infrastructure

 HRC offers high-quality data centres and best-in-class operations. The
 technical and operational risks in maintaining this standard can be
 categorised in a number of distinct ways including but not limited to power
 surges from the main grid or external factors such as human error. While HRC
 manages such risks through robust infrastructure as well as through detailed
 and structured operational procedures and maintenance programmes and
 appropriate method statements, this risk cannot be eliminated.

 If an HRC data centre were to suffer a serious incident be it due to equipment
 failure, human error or any other reason, this could have an impact on the
 operational track record and reputation of HRC. Such an incident could harm
 its tenants, reduce tenants' confidence in HRC's services, impair HRC's
 ability to attract new tenants and retain existing tenants, result in HRC
 incurring financial obligations to its tenants and otherwise have a material
 adverse effect on HRC's business, financial condition and operations.

 Considering that electrical power infrastructure is typically one of the most
 important limiting factors in its data centres, HRC's ability to fully utilise
 available capacity is crucial as is the ability to secure sufficient power
 resources from third-party providers. If it cannot fully utilise available
 capacity and/or secure sufficient power resources, HRC could suffer from a
 negative impact on the available effective capacity of its existing data
 centres and limit its ability to expand its business. Any failure by an
 electricity supplier to provide required power resources to HRC could
 adversely affect HRC's business, financial condition and results of
 operations.

 Declining real estate valuations and impairment charges could adversely affect
 HRC's earnings and financial condition

 HRC reviews the carrying value of its properties when circumstances, such as
 adverse market conditions, indicate that potential impairment may exist. HRC
 bases its review on an estimate of the future cash flows (excluding interest
 charges) expected to result from the real estate investment's use and eventual
 disposition. HRC considers factors such as future operating income, trends and
 prospects, as well as the effects of leasing demand, competition and other
 factors. If this evaluation indicates that HRC may be unable to recover the
 carrying value of a real estate investment, an impairment loss is recorded to
 the extent that the carrying value exceeds the estimated fair value of the
 property. Any such losses would have a direct impact on HRC's net income
 because recording an impairment loss would result in an immediate negative
 adjustment to net income. The evaluation of anticipated cash flows is highly
 subjective and is based in part on assumptions regarding future occupancy,
 rental rates and capital requirements that could differ materially from actual
 results in future periods. A worsening real estate market in regions where HRC
 has data centres may cause HRC to re-evaluate the assumptions used in its
 impairment analysis. Impairment charges could adversely affect HRC's business,
 financial condition and results of operations.

 HRC's properties depend upon the demand for space in high quality, small to
 medium scale data centres.

 HRC's portfolio of properties consists of high quality small to medium scale
 data centre real estate. A decrease in the demand for data centre space,
 internet gateway facilities or similar real estate could have an adverse
 effect on HRC's business, financial condition and results of operations. Any
 economic slowdown or adverse development could lead to reduced demand for data
 centre space. Reduced demand could also result from business relocations,
 including to markets in which HRC does not currently operate.

 Unexpected changes in industry practice or in technology, could also reduce
 customer demand for the physical data centre space which HRC provides and
 render its properties obsolete or in need of significant upgrades to remain
 viable. In addition, the development of new technologies, the adoption of new
 industry standards or other factors could render many of HRC's current
 products and services obsolete or unmarketable and contribute to a downturn in
 its tenants' businesses, thereby increasing the likelihood that they default
 under their leases, become insolvent or file for bankruptcy.

 If HRC is unable to locate and secure suitable sites for additional data
 centres on commercially acceptable terms, HRC's ability to grow its business
 may be limited.

 HRC's growth is dependent on locating and securing suitable sites for
 additional data centres that meet HRC's strict specifications. These
 specifications include, but are not limited to, sourcing sites free from
 seismic activity and sub-surface contamination, storm potential and various
 topographical considerations; there are further requirements in terms of
 proximity to international network routes, access to a significant supply of
 high voltage electrical power, the ability to sustain heavy floor loading and
 an adequate supply of sufficiently educated labour to operate and maintain the
 site. Property meeting these specifications may be scarce in HRC's target
 markets. If HRC is unable to identify and acquire property on commercially
 acceptable terms on a timely basis for any reason, including competition from
 other companies seeking similar sites with greater financial resources than
 HRC, HRC's rate of growth may be substantially impaired.

 HRC depends on its tenants or prospective customers to fulfil their
 contractual obligations.

 Many factors may cause HRC's tenants to experience a downturn in their
 businesses or otherwise experience a lack of liquidity, which may weaken their
 financial condition and result in their failing to make timely rental payments
 or to defaulting under their leases. If any tenant defaults or fails to make
 timely rent payments, HRC may experience delays in enforcing its rights, may
 not succeed in recovering rent at all and may incur substantial costs in
 protecting its investment. In addition, HRC's financial condition may suffer
 as a result of any failure to enforce or recover under any security granted to
 it (by way of parent company guarantee, bank guarantee, or otherwise) with
 respect to a tenant or prospective customer's obligations.

 HRC's tenants may choose to develop new data centres or expand their own
 existing data centres.

 HRC's tenants may choose in the future to develop new data centres or expand
 or consolidate into data centres that HRC does not own or control. In the
 event that any of HRC's key tenants were to do so, it could result in a loss
 of business or put pressure on pricing. If HRC loses a tenant, no assurance
 can be given that it would be able to replace that tenant at a competitive
 rate or at all, which could have a material adverse effect on HRC's revenues.

 Securing tenants for HRC's existing and proposed development data centres may
 have a long sales cycle.

 A tenant's decision to take space in one of HRC's existing or proposed data
 centres typically involves a significant commitment of resources by HRC and by
 the potential tenant. As a result, for new tenants, HRC may have a long sales
 cycle lato secure the new tenant. Furthermore, HRC may expend significant time
 and resources in pursuing a particular potential tenant that does not result
 in revenue. The timescale for existing tenants is shorter in most cases. A
 slowdown in the global economy, periods of political instability and/or a
 delayed recovery may further impact this long sales cycle by making it
 extremely difficult for tenants to accurately forecast and plan future
 business activities. This could cause such potential tenants to slow spending,
 or delay decision-making on HRC's data centres. Delays due to the length of
 HRC's sales cycle for existing data centres as well as the length of sales
 cycles arising from the inability to secure pre-commitments for proposed data
 centre properties may have a material adverse effect on its business,
 financial condition and results of operations.

 HRC may be unable to lease vacant space or renew leases as leases expire.

 No assurance can be given that once HRC has developed new data centre space it
 will be able to successfully lease it at all, or at favourable rates or rates
 expected at the time the development commenced. If HRC is not able to lease
 successfully the space that it develops, if development costs are higher than
 it currently estimates, or if lease rates are lower than expected when it
 began the project or are otherwise undesirable, HRC's revenue and operating
 results could be adversely affected.

 No assurance can be given that leases will be renewed or that renewals will be
 at net effective rental rates equal to or above the current average net
 effective rental rates. If the rental rates for HRC's properties decrease, if
 existing tenants do not renew their leases or the renewal of any of its leases
 is on less favourable terms, if HRC does not lease unoccupied space or if it
 takes longer to lease or re-lease unoccupied space or for rents to commence on
 this space, HRC's financial condition, results of operations, cash flow and
 ability to satisfy its debt service obligations could be materially adversely
 affected.

 HRC's business is dependent on the adequate supply of electrical power and
 could be harmed by prolonged electrical power outages or increases in the cost
 of power.

 The operation of each of HRC's data centres requires a substantial amount of
 power purchased from the grid. HRC cannot be certain that there will be
 adequate power in all of the markets in which it operates or proposes to
 develop additional data centres. HRC relies on third parties to provide power
 to its data centres, and it cannot ensure that these third parties will
 deliver such power in adequate quantities or on a consistent basis. If the
 amount of power available to it is inadequate to support its requirements, it
 may be unable to satisfy its obligations to its tenants. Any temporary loss of
 or reduction in power at any of HRC's data centres could harm its tenants,
 reduce tenants' confidence in HRC's services, or impair HRC's ability to
 retain existing tenants or attract new tenants. It could also result in HRC
 incurring financial liabilities to its tenants, who may also seek damages from
 HRC. If HRC is unable to fully utilise the physical space available within its
 data centres or successfully develop additional data centres or expand
 existing data centres due to restrictions on available electrical power or
 cooling, it will be unable to accept new customers or increase its services
 provided to existing customers, which may have a material adverse effect on
 its business, financial condition and results of operations.

 This announcement, together with any documents incorporated by reference,
 shall be deemed to constitute an admission document for the purposes of the
 AQSE Growth Market Rules for Issuers - Access. It has not been approved or
 reviewed by the Aquis Stock Exchange or the Financial Conduct Authority.
 NAME OF AQSE CORPORATE ADVISER:
 Optiva Securities Limited
 NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED:
 150,000,000 Ordinary Shares of €0.01
 SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER OF SECURITIES
 IN ISSUE (excluding securities held in treasury):
 100%
 SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT'S SHARE CAPITAL
 OR VOTING RIGHTS PRE- AND POST-ADMISSION:
 VCB A.G. (Custody Service): 49.03%

 James Brearley Nominees: 33.75%

 JP Morgan Chase Bank: 9.80%
 TIMETABLE FOR ANY OFFER OF TRANSFERABLE SECURITIES TO THE PUBLIC:
 N/A
 THE EXPECTED ADMISSION DATE:
 26 August 2025
 WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR INSPECTION:
 https://www.hrcplc.co.uk/ (https://www.hrcplc.co.uk/)
 In respect of a fast-track applicant, the following information should also be
 included:
 NAME OF MARKET ON WHICH THE APPLICANT'S SECURITIES ARE CURRENTLY TRADED:
 NASDAQ FIRST NORTH COPENHAGEN
 ARRANGEMENTS FOR THE SETTLEMENT OF TRANSACTIONS IN THE APPLICANT'S SECURITIES:
 CREST
 DETAILS OF ANY LOCK-IN ARRANGEMENTS:
 N/A
 DETAILS OF THE LEGAL OR REGULATORY REQUIREMENTS IN THE APPLICANT'S HOME
 COUNTRY REGARDING THE CONDUCT OF TAKEOVERS AND THE ACQUISITION OF SIGNIFICANT
 VOTING RIGHTS TO WHICH THE APPLICANT IS SUBJECT:
 The Company is subject to the UK Takeover Code
 In respect of an update to a prior application announcement, the date of the
 original announcement should also be disclosed as follows:
 UPDATE TO A PRIOR APPLICATION ANNOUNCEMENT RELEASED ON:
 N/A

 

 

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