Business
Expiration of FCA Transition Provisions
Red Capital PLC (LSE: REDC) announced that following the expiration of the FCA's Transition Provisions for shell companies on July 29, 2025, the Board intends to propose a resolution at the next shareholder meeting. This resolution will amend the company's articles to mandate the cessation of operations and return of excess cash to shareholders by July 30, 2027, if an initial transaction has not been completed by that date. Disclaimer*
About this update from Red Capital Plc
[{"type":"text","content":"\n\n18 August 2025\nRED CAPITAL PLC\nExpiration of FCA Transition Provisions\nRed Capital Plc (LSE: REDC, \"Red\" or the \"Company\"), the Main Market listed acquisition company, announces that further to the expiration of the FCA's Transition Provisions in relation to shell companies which occurred on 29 July 2025, the Board of Directors of the Company intend to include a resolution at the next general meeting of Company's shareholders to recommend a change to the Company's articles of association in order to comply with UKLR 13.2.1R.\nUnder this resolution, the Directors will recommend that the articles of association of the Company are amended to provide that if the Company has not completed an initial transaction on or before the 30 July 2027, it will cease operations and return any excess cash to shareholders.\nEnquiries:\n \n\n\n\n\nTessera Investment Management Limited\n\n\n \n\n\n\n\nTony Morris \n\n\n+44 (0) 7742 189145\n\n\n\n\n \n \n\n","length":2387,"tagName":"div"}]