REG - Redcentric PLC - Response to outcome of FCA criminal prosecutions

RedcentricAnnouncement

14/02/2022 07:00

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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
 
                 +44 (0)800 983 2522

Peter Brotherton, Chief Executive
Officer

David Senior, Chief Financial
Officer
 

finnCap Ltd - Nomad and
Broker
+44 (0)20 7220 0500

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

Andrew Burdis / Sunila de Silva (ECM)

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