Redcentric PLC Restitution Scheme Update (7086V)
August 11 2020 - 2:00AM
UK Regulatory
TIDMRCN
RNS Number : 7086V
Redcentric PLC
11 August 2020
Redcentric plc
Restitution Scheme Update
Redcentric plc (AIM: RCN) ("Redcentric" or the "Company"), a
leading UK IT managed services provider, announces that since the
Administrator began processing claims following the passing of the
Resolutions at the Company's General Meeting on 13 July 2020, it
has made the following Restitution Payments pursuant to the Scheme
announced by the Company on 26 June 2020.
Number of Net Relevant Share Purchases
the subject of Restitution Payments: 5,380,138
Number of Ordinary Shares allotted: 0
Cash payments: GBP912,471.40
Following the Restitution Payments set out above, the total
number of Net Relevant Share Purchases the subject of Restitution
Payments is 5,380,138 and the aggregate Restitution Payments made
to date pursuant to the Scheme are 0 Ordinary Shares allotted and
GBP912,471.40 in cash payments.
As previously announced at the time of the announcement of the
Scheme, the Company had entered into a Settlement Deed with Harwood
Capital whereby funds managed by it agreed to waive all their
claims against the Company in exchange for the issue of 308,000
Ordinary Shares, in the same manner as if they had participated in
the Scheme and elected to receive their entitlement wholly in
Ordinary Shares. The Ordinary Shares issued to Harwood Capital
under the terms of the Settlement Agreement were admitted to
trading on AIM on 14 July 2020.
Defined terms used in this announcement have the meanings
ascribed to them in the circular to shareholders dated 26 June 2020
unless otherwise defined.
Enquiries:
Redcentric plc
Peter Brotherton, Chief Executive Officer
David Senior, Chief Financial Officer +44 (0)800 983 2522
finnCap Ltd - Nomad and Sole Broker
Marc Milmo / Simon Hicks / Charlie Beeson
(Corporate Finance)
Andrew Burdis / Sunila de Silva (ECM) +44 (0)20 7220 0500
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END
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