Business
Proposed £90 million Tender Offer & Notice of GM
Redcentric plc is proposing a tender offer to return up to £90 million to shareholders at £1.60 per ordinary share, representing a 30.9% premium. This tender offer is part of a share capital restructure designed to simplify the shareholder register and reduce administrative costs, particularly for those holding fewer than 20 shares. The company, which recently divested its data centre business and now focuses on its MSP operations, reported unaudited adjusted EBITDA of approximately £17.5 million on revenues of £132.1 million for FY26. The proposed restructure involves a 20-for-1 share consolidation followed by a 1-for-20 sub-division. Directors unanimously recommend shareholders vote in favour of these proposals at the upcoming General Meeting. Disclaimer*
About this update from Redcentric Plc
19 June 2026 Redcentric plc ('Redcentric', the 'Company' or the 'Group') Proposed Tender Offer for up to £90 million Share Capital Restructure Notice of General Meeting Redcentric plc (LSE: RCN), a leading UK IT managed services provider ('MSP'), is pleased to announce a proposed Tender Offer of up to £90 million together with a Share Capital Restructure. To this end, a circular (the 'Circular') is being posted to Shareholders today setting out the background to and reasons for the proposed Tender Offer and the Share Capital Restructure as well as containing the Notice of General Meeting. The General Meeting will be held at 10.30 a.m. on 7 July 2026 at the Company's registered office at Central House, Beckwith Knowle, Harrogate, North Yorkshire HG3 1UG. A copy of the Circular is also available on the Company's website at https://www.redcentricplc.com/investors. Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as defined in the Circular. Highlights · The Company is proposing to return up to £90 million to Shareholders by way of a Tender Offer; · The Tender Price is £1.60 per Ordinary Share, representing a Premium of approximately 30.9 per cent to the price of an Ordinary Share on the day before this announcement; · Pursuant to the Tender Offer, Shareholders will have a Basic Entitlement to tender approximately 35.3 per cent. of the Ordinary Shares held by them. However, Shareholders can decide whether they want to tender any or all of their Ordinary Shares in the Tender Offer; · The maximum aggregate number of Ordinary Shares available to be purchased under the Tender Offer is 56,250,000 Ordinary Shares (representing approximately 35.3 per cent. of the Company's issued Ordinary Share capital as at 11 June 2026 (being the latest practicable date prior to the publication of the Circular)) (such number of shares being the 'Tender Offer Maximum'); · In addition, the Directors believe that it is in the best interests of the Company and its Shareholders to put forward proposals to implement a share capital restructuring which will enable an efficient exit of a large number of minority Shareholders holding less than 20 Ordinary Shares as well as significantly reduce the...