No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Redcentric said on Thursday that the High Court had sanctioned its proposed capital reduction, clearing a key step towards the company's planned return of up to £90m to shareholders through a tender offer.
The AIM-traded managed IT services provider said the capital reduction was expected to become effective once the court order and accompanying statement of capital were registered with Companies House, on or before 3 July.
Redcentric said the number of shares admitted to trading would be unchanged, and that it would make a further announcement confirming the effective date and final tender offer timetable.
At 0800 BST, shares in Redcentric were up 3.25% at 127p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.