REG - Redcentric PLC - Board Changes

RedcentricAnnouncement

01/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241101:nRSA4424Ka&default-theme=true

RNS Number : 4424K  Redcentric PLC  01 November 2024

Redcentric plc

 

("Redcentric" or the "Group")

 

Board Changes

Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a leading UK IT
managed services provider, confirms that further to the announcement on 24
September 2024, John Radziwill has been appointed as non-executive director of
the Company after completing the relevant due diligence as part of the
onboarding process for all new board appointments. Mr Radziwill joins the
board as a representative of ND Capital Investments Limited ("ND Capital"),
one of the Company's largest shareholders, and is a highly experienced
director. Mr Radziwill has held several senior leadership roles in investment
banking, advisory and asset management.

Relationship Agreement

In conjunction with Mr Radziwill's appointment, the Company has entered into a
relationship agreement with ND Capital. The key terms of this agreement are as
follows:

·    ND Capital has the right to nominate one person for appointment as a
director of the Company providing that ND Capital (together with its
individual partners and their affiliates), directly or indirectly, holds no
less than 15 per cent of the voting rights of the Company (or 7.5 per cent
taking into account any reduction in voting rights resulting from any dilution
following the date of the agreement);

·    All transactions, agreements or arrangements entered into between a
member of the Group and ND Capital and/or any of its associates will be
conducted at arm's length and on arm's length commercial terms;

·    ND Capital shall exercise its voting rights to ensure, so far as it
is able to do so by the exercise of such rights, that directors independent of
ND Capital shall at all times constitute a majority of the Redcentric board
(save with the approval of a majority of the independent directors);

·    ND Capital and its associates will not propose any resolution or
other action to cancel the trading of the Company's shares from trading on AIM
without the board's approval (save with the approval of a majority of the
independent directors); and

·    ND Capital and its associates will not solicit proxies unless
consistent with the recommendation of the board, exercise powers to
requisition a shareholders' meeting, or undertake any action to obtain or
consolidate control of the Company or seek to do so, otherwise than in
accordance with the Takeover Code.

Richard McGuire, Chair of Redcentric, commented:

"John brings a wealth of expertise and experience to the Group. His addition
further strengthens the Board composition and capabilities to drive execution
of the Group's strategic initiatives. John represents one of the Company's
long-standing and major investors through his role at ND Capital, and we look
forward to his valuable insights and contributions in advancing Redcentric's
strategy."

Additional information with regard to John Radziwill:

The following information is disclosed in accordance with Schedule 2(g) of the
AIM Rules for Companies:

Full name: John Stanislas Albert Radziwill

Age: 77

Current directorships:

StoneX Group Inc.

Oryx International Growth Fund Ltd.

Seatboost Inc.

GGH Management 2 Sp. z o. o.

GGH Management 3 Sp z o.o.

StoneX Switzerland SA

Netsurion LLC (formerly known as VendorSafe Technologies Inc.)

Furnari Sp.z.o.o.

Previous directorships held in the past 5 years:

GGH MT Sp. z o. o.

Fifth Street Capital (BVI)

 

Save as set out above there are no further disclosures required pursuant to
Rule 17 or Schedule Two, paragraph (g) of the AIM Rules for Companies.

Enquiries:

Redcentric
plc
+44 (0)800 983 2522

Peter Brotherton, Chief Executive Officer

David Senior, Chief Financial Officer

 

Cavendish Capital Markets Limited - Nomad and Sole
Broker                                 +44
(0)20 7220 0500

Marc Milmo / Callum Davidson / Rory Sale (Corporate Finance)

Andrew Burdis / Sunila de Silva (ECM)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAKZMFGMMDGDZM