MXC Capital Limited Purchase of Redcentric Shares (5523O)

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

[phone]

Zeus Capital Limited (Nominated adviser and broker)

Nick How/ Giles Balleny

[phone]

Alma PR

Josh Royston / Hilary Buchanan

[phone]/[phone]

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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November 08, 2016 02:01 ET (07:01 GMT)