Update on Capital Reduction
Redcentric plc has announced that the Court has sanctioned its proposed Capital Reduction, a necessary step to facilitate a return of up to £90 million in cash to shareholders via a tender offer. The Capital Reduction is expected to become effective on or before July 3, 2026, upon registration with the Registrar of Companies, with the number of shares admitted to trading remaining unchanged. A further announcement will confirm the effective date and the final tender offer timetable.
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Redcentric plc (LSE: RCN), a leading UK IT managed services provider ('MSP'), announces that following the Final Court Hearing held on 30 June 2026 in connection with the proposed Capital Reduction, as described in the circular to Shareholders published on 24 April 2026, the Court has now sanctioned the Capital Reduction.
As previously announced, completion of the Capital Reduction is required to enable the proposed return of up to £90 million in cash to Shareholders by way of a tender offer (the 'Tender Offer'), full details of which were set out in the circular to Shareholders published on 19 June 2026.
The Capital Reduction will become effective on registration of the Court Order and accompanying statement of capital by the Registrar of Companies in England and Wales, expected to be on or prior to 3 July 2026. The number of shares admitted to trading will be unchanged by the Capital Reduction.
The Company will make a further announcement confirming the effective date of the Capital Reduction, including the final Tender Offer timetable.
Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as defined in the Circular posted to Shareholders on 24 April 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.