Last checked at 2 Apr 2014 08:30
Redcentric plc
("Redcentric" or "the Company")
Directors' Dealings
The Company was informed on 1 April 2014 that MXC Capital Limited ("MXC Capital") and Ian Smith's self invested personal pension plan ("SIPP"), representing the interests of Tony Weaver and Ian Smith (Chief Executive and Non Executive Director of the Company respectively) sold 3,900,000 and 600,000 shares respectively on 1 April 2014 all at a price of 110p per share.
Following this sale, the total number of Ordinary Shares held by MXC Capital, together with Ian Smith's SIPP, is 5,874,108 (of which 25,000 Ordinary Shares are held in Ian Smith's SIPP), representing approximately 4.08 per cent. of the issued share capital of the Company. MXC Capital also holds options over 6.04 per cent. of the Company.
This is the first time MXC Capital has sold shares since supporting the turnaround of Redstone in August 2010 prior to the subsequent demerger of Redcentric. MXC Capital has given the Company an undertaking that it will not sell any more shares for a period of 12 months. MXC Capital is an Investment and Advisory business and has informed the Company that the purpose of the share sale was to reduce its portfolio concentration and provide its fund with the liquidity it requires to support other portfolio investments.
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
finnCap - Joint Broker Tel: +44 (0)20 7220 0500
Charlotte Stranner / Stuart Andrews
MXC Capital Advisory LLP - Corporate Finance Adviser
Marc Young Tel. +44 (0)20 7965 8149
Newgate Threadneedle - Financial PR Tel. +44 (0)20 7653 9850
Josh Royston / Hilary Millar