Results of Redcentric's December 2013 General Meeting
06 December 2013
Redcentric acquire InTechnology Managed Services - Result of December 2013 general meeting
Redcentric plc (AIM:RCN), a leading end-to-end managed service provider delivering innovative technology to improve business productivity and efficiency, is pleased to announce that all resolutions contained in the Notice of General Meeting circulated to Shareholders on 18 November 2013 were passed at the General Meeting held earlier today.As a result of the resolutions being passed, the acquisition of InTechnology Managed Services Limited for £65m cash is expected to complete at 8.00 a.m. on 6 December 2013. As previously advised, the Company has placed 80,000,000 new ordinary shares at 80 pence per share to raise £64 million before costs to part-fund the Acquisition. The enlarged entity is expected to be re-admitted to trading on AIM under the TIDM "RCN" and the ISIN GB00B7TW1V39, with first dealings expected to commence at 8.00 a.m. on 6 December 2013.
The total number of voting rights in the Company on Admission will be 142,377,120. This figure may be used by shareholders as the denominator for the calculations to determine whether they are required to notify an interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
Defined terms used in this announcement are the same as those defined in the Admission Document dated 18 November 2013 unless the context requires otherwise.
Tony Weaver, Chief Executive Officer of Redcentric said "The Board has been encouraged by the positive reaction from both customers and investors to this transformational acquisition. We are focused on the job of integrating the businesses and creating the most successful independent managed services business in the UK."