Business
Proposed Capital Reduction & Notice of GM
Redcentric plc is proposing a capital reduction by cancelling its share premium account to create additional distributable reserves, aiming to enhance its capacity for future shareholder returns following the anticipated completion of its data centre business disposal on April 30, 2026. This move is intended to provide greater flexibility for further capital distributions beyond an initial equity tender offer, which is estimated to have distributable reserves of £75 million post-disposal. The proposal requires shareholder approval via a special resolution at a general meeting on May 13, 2026, and subsequent confirmation by the High Court. Disclaimer*
About this update from Redcentric Plc
24 April 2026 Redcentric plc ('Redcentric', the 'Company' or the 'Group') Proposed Capital Reduction Publication of Circular and Notice of General Meeting Redcentric plc (AIM: RCN), a leading UK IT managed services provider, is pleased to announce its intention to undertake a capital reduction. The proposed 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. The Company will today be posting to shareholders a circular (the 'Circular'), regarding the proposed cancellation of the Company's share premium account (the 'Capital Reduction') in order to create additional distributable reserves for the Company. The Circular contains a notice of general meeting of the Company's shareholders (the 'Notice of General Meeting'), which is to be held at the Company's registered office at Central House, Beckwith Knowle, Harrogate, North Yorkshire HG3 1UG at 9.30 a.m. on 13 May 2026 at which a special resolution will be proposed for shareholders to approve the proposed Capital Reduction. The Circular, together with the Notice of General Meeting, will also be available to view today on the Company's website at www.redcentricplc.com. Background to and reasons for the proposed Capital Reduction On 23 October 2025, the Company announced that it had conditionally agreed the sale of its data centre business to Stellanor Datacenters Group Limited ('Stellanor') (the 'Disposal'). The Company and Stellan...