Redcentric Regulatory News (RCN)

21 August 2014

Redcentric plc

("Redcentric", "the Company" or "the Group")

Board Changes - Appointment of New Chairman

Following the successful de-merger from Redstone and acquisition of InTechnology Managed Services, and with the Company now in a period of stability, Richard Ramsay, Non-Executive Chairman, has decided that this represents a good opportunity to hand over the Chairmanship to a new Non-Executive Director. Richard has been a director of Redcentric since its creation via demerger from Redstone plc in April 2013. Prior to that, Richard was a Non-Executive Director and latterly Chairman of Redstone plc from October 2010 and has been a key participant in successfully restructuring both companies. Richard has a number of other Non-Executive appointments, some of which are now demanding more of his time and he has therefore decided to focus on those other roles.

The Board are pleased to announce the appointment of Christopher (Chris) Cole, 67, as a Non-Executive Director of the Company, who will take over as Non-Executive Chairman on Richard's retirement. Chris has a strong track record in stewarding quoted companies, having successfully led WSP Group plc ("WSP") as Chief Executive Officer and Chairman and Ashtead Group plc as Chairman. Chris founded WSP and led the business through an initial public offering (IPO) in 1987. As Chief Executive he developed WSP organically and through acquisition to be a global engineering and environmental consultancy with 10,000 people operating in more than 40 countries. Following WSP's merger with GENIVAR in August 2012, Chris became Chairman and is now Non-Executive Chairman of the merged entity, WSP Global Inc.

Chris has also been Non-Executive Chairman of Ashtead Group plc since 2007 and Senior Independent Non-Executive Director of Infinis Energy plc since September 2013. Chris has recently been appointed Non-Executive Chairman of Tracsis plc and Non-Executive Chairman of Applus Services, S.A. Chris is a Chartered Engineer.

Chris will join the Board with immediate effect and take over from Richard as Chairman on 1st September 2014. Richard will formally step down from his position on 31st August 2014.

The Board regularly reviews its composition and will continue to do so to ensure that it has the correct balance and remains mindful of its corporate governance obligations.

Richard Ramsay, Chairman of Redcentric commented:

"It was a difficult decision to step away from Redcentric as I am proud of what has been achieved in a relatively short time frame. Having achieved a period of stability, now feels like the right time to hand over the Chairmanship to someone who can guide the Company in its next phase. I will miss my colleagues on the Board and in the business, however I have every confidence that Redcentric is heading in the right direction, and has the potential for great success in the future."

Chris Cole commented:

"I am pleased to be joining the Board of Redcentric as Chairman, and I look forward to working with Tony and his team to continue the progress they have made in developing Redcentric to realise its potential."

Tony Weaver, Chief Executive of Redcentric commented:

"Richard has successfully chaired the Board through a period of significant change, and I would like to place on record the rest of the Board's thanks for his significant achievements. Richard has been incredibly generous in the time and effort he has dedicated to the Company; he continues to have an active roster of appointments and I am sure he will continue to contribute to successful businesses. 

I am delighted to welcome Chris Cole to the Board. Chris has a wealth of experience in growing and building successful businesses and we look forward to working with him as we continue to grow Redcentric."

The following information is disclosable pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Current directorships / partnerships

Past directorships / partnerships

WSP Future Energy Limited

WSP Europe Limited

WSP Finance One Limited

WSP Finance Two Limited

WSP US Holdings Limited

Save as disclosed above, the Company confirms that there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with the appointment of Christopher Cole.

Enquiries:

Redcentric plc Tel. +44 (0)845 034 1111

Tony Weaver, Chief Executive

N+1 Singer - NOMAD & Joint Broker Tel. +44 (0)20 7496 3000

Jonny Franklin-Adams / Ben Wright / Emily Watts

finnCap - Joint Broker Tel. +44 (0)20 7220 0500

Charlotte Stranner / Stuart Andrews

MXC Capital Advisory LLP - Financial Advisor Tel: +44 (0)20 7965 8149

Marc Young

Newgate Threadneedle Tel: +44 (0)20 7653 9850

Josh Royston / Hilary Millar