3 Mar 2017 10:06
MXC Capital Limited
("MXC" or the "Company")
Sale of Redcentric Shares
MXC Capital Limited (AIM: MXCP), the technology focused merchant bank, announces that on 2 March 2017 it sold 5,269,316 ordinary shares of 0.1 pence each in the capital of Redcentric plc ("Redcentric Shares") resulting in total gross proceeds of £4.7 million (the "Disposal").
Following the Disposal, MXC holds 1,692,988 Redcentric Shares representing 1.14% of the issued share capital of Redcentric plc. MXC also holds a further 7,000,000 options over Redcentric Shares with an exercise price of 80 pence per share.
Redcentric plc is a leading UK IT managed services provider listed on the AIM market of the London Stock Exchange. Further details about Redcentric plc (including latest financial reports) are available at www.redcentricplc.com.
The proceeds of the Disposal will be used in line with the Company's stated strategy of investing in technology companies.
MXC Capital Limited
Marc Young
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick How/ Giles Balleny
+44 (0)20 3829 5000
Alma PR
Josh Royston / Hilary Buchanan
+44 (0)7780 901979/+44 (0) 7515 805218
About MXC Capital (www.mxccapital.com)
MXC is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.