Redcentric Proposes Capital Reduction for Enhanced Shareholder Returns
Redcentric plc plans a capital reduction to boost distributable reserves, pending shareholder vote on May 13, 2026. This initiative follows a conditional sale of its data center business to Stellanor Datacenters Group Limited, with completion expected by April 30, 2026.
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Redcentric plc (AIM:RCN) aims to enhance its distributable reserves through a capital reduction, needing shareholder approval at a general meeting on May 13, 2026. This proposal follows the announcement of a conditional sale of its data center business to Stellanor Datacenters Group Limited, anticipated to conclude by April 30, 2026.
The company estimates its distributable reserves at £75 million prior to the capital reduction. The approval process requires a special resolution and High Court confirmation, with an initial hearing scheduled for early June 2026. A successful reduction could facilitate managed services focus and a share buyback program, potentially improving shareholder value.
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