REG - Redcentric PLC - Capital Reduction Result of General Meeting

RedcentricAnnouncement

Wed 13:30

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RNS Number : 2044E  Redcentric PLC  13 May 2026

13 May 2026

 

Redcentric plc

('Redcentric', the 'Company' or the 'Group')

 

Capital Reduction

Result of General Meeting

 

Redcentric plc (AIM: RCN), a leading UK IT managed services provider, is
pleased to announce that at the General Meeting held earlier today in
Harrogate, the special resolution put to shareholders regarding the proposed
cancellation of the Company's share premium account (the 'Capital Reduction')
and voted on by a poll, was duly passed. The results of the poll are reported
below.

 

 Resolution       Votes for(2)  % (3)   Votes against                 % (3)  Votes Cast
                  Total                 % of Issued Share Capital(4)
 Resolution 1(1)  137,765,791   99.99%  8,946                         0.01%  137,774,737  86.48%

 

The Capital Reduction will create additional capacity to deliver further
returns to shareholders while maintaining a strong balance sheet to support
the Group's ongoing growth strategy in the Managed Services sector.

 

On 1 May 2026, the Company announced that it had successfully completed the
sale of its entire data centre business, Redcentric Data Centres Limited, to
Stellanor Datacenters Group Limited for an estimated £122.85 million. As
previously announced, this transaction marked a pivotal milestone for the
Group, enabling a substantial return of capital to shareholders which the
Board intends to achieve via an equity Tender Offer at a price of 160 pence
per share.  The Tender Offer is expected to return in excess of £90 million
to shareholders and will be subject to shareholder approval. A Circular
containing full details of the Tender Offer, confirming the proposed price per
share, amount payable and timetable, is expected to be published in June 2026,
with settlement anticipated in July 2026.

 

The Capital Reduction is conditional upon the subsequent confirmation by the
High Court of England and Wales of the cancellation. The expected date for the
Court hearing to confirm the Capital Reduction and for its completion is the
week commencing 29 June 2026. A further announcement will be made in due
course following the conclusion of the Capital Reduction.

 

Notes:

 

(1) Resolution 1:  That the share premium account of the Company be cancelled
in order to create additional distributable reserves.  A Special Resolution.

 

(2) Any proxy appointments which gave discretion to the Chairman have been
included in the "for"

total.

 

(3) A vote withheld is not a vote in law and is not counted in the calculation
of the percentage of

the votes validly cast "for" or "against" a resolution. There were 7 votes
withheld.

 

(4) The total number of shares in issue in the capital of the Company as at 13
May 2026 was 159,320,466 ordinary shares of £0.001 each, 496 of which were
held as treasury shares. Accordingly, the total number of voting rights in the
Company as at 13 May 2026 was 159,319,970.

 

Publication on website:

 

The full text of the resolution proposed and passed at the General Meeting can
be found in the

Company's shareholder circular and notice of general meeting which was
published and posted to shareholders on 24 April 2026 and is available on the
Company's website at www.redcentricplc.com/investors/
(//www.redcentricplc.com/investors/) .

- Ends -

 

Enquiries:

 

    Redcentric plc                                           via Burson Buchanan

    Michelle Senecal De Fonseca, CEO                         www.redcentricplc.com (http://www.redcentricplc.com/)

    Tony Ratcliffe, CFO
                                                             Tel: +44 (0) 20 7220 0500

    Cavendish Capital Markets Limited - Nomad and Broker

    Marc Milmo / Callum Davidson (Corporate Finance)

    Andrew Burdis / Sunila de Silva (ECM)

 

For media enquiries:

 

 Burson Buchanan - Financial Communications           Tel: +44 (0) 20 7466 5000

 Henry Harrison-Topham / Jamie Hooper / Toto Berger   redcentric@buchanancomms.co.uk (mailto:redcentric@buchanancomms.co.uk)

Notes to Editors:

 

Redcentric has a strong track record in delivering IT managed services
provision that empowers businesses to scale, innovate and grow in a rapidly
evolving digital landscape. As technology continues to advance the Company's
goal is to be the go-to-all-in-one infrastructure and managed IT service
provider for customers of all sizes offering an unmatched range of products
and solutions.

 

The Company's MSP division serves the private and public sectors with all
their IT requirements.  The MSP division acts as an outsourced IT department,
handling day to day maintenance and security of customers' IT infrastructures.
This allows customers to improve security and efficiency and focus on growing
their core businesses.

 

From infrastructure management and cloud services to cybersecurity and data
analytics, Redcentric has a comprehensive suite of solutions designed to meet
the diverse needs of modern businesses.

 

For additional information please visit www.redcentricplc.com
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.redcentricplc.com%2F&data=05%7C02%7Cliz.wild%40redcentricplc.com%7C1c5448d1b4a14513a74008ddf4febfce%7C849ace2839514fbfb420bd63bc528ce9%7C0%7C0%7C638936097176014930%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=Lhu7bvBse2mdgtOfbpNmwzoD%2B%2FXNcpOvnChFVtdM9DM%3D&reserved=0)

 

 

 

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