MXC Capital Limited Purchase of Redcentric Shares (5523O)
November 08 2016 - 1:01AM
UK Regulatory
TIDMMXCP
RNS Number : 5523O
MXC Capital Limited
08 November 2016
MXC Capital Limited
("MXC" or the "Company")
Purchase of Redcentric Shares
MXC Capital Limited (AIM: MXCP), the technology focused merchant
bank, announces that on 7 November 2016, it bought 7,610,208 shares
in Redcentric plc ("Redcentric") at an average price of 59.68 pence
per share. Together with MXC's existing shareholding, MXC now holds
7,659,316 Redcentric shares, representing 5.2% of its issued share
capital.
MXC also holds options and warrants over 8,692,988 Redcentric
shares, which, together with the shares it now holds, represents
10.5% of the diluted share capital of Redcentric (as enlarged by
the issue of the options and warrants).
Peter Rigg, Chairman of MXC Capital, commented:
"We are shocked by the recent developments at Redcentric;
accounting misrepresentations are every investor's worst nightmare.
Despite this set back, we strongly believe in the fundamental
quality of Redcentric's business and remain confident of its future
prospects.
With swift action, we believe that value can be restored in
Redcentric and MXC will seek to take an active role in this
process."
MXC Capital Limited
Marc Young
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick How/ Giles Balleny
+44 (0)20 7533 7727
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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