Redcentric plc is a mid-market network-based managed services business delivering information and communications technology (ICT) solutions and services. The Company delivers services, such as designing, implementing, securing and maintaining ICT networks; hosting services, software and data in the cloud, and managing the ICT environment utilized in the delivery of the services, software and data. It offers a range of network-based managed services solutions, including Managed security services, Connectivity solutions, Unified communications solutions, Hosted applications/Cloud services, Physical and virtual data centre services, and ICT project and hardware maintenance services. The Company was formed to facilitate the demerger of the network-based managed services business from the Redstone Group. On April 8, 2013 Redcentric Holdings Limited, a wholly owned subsidiary was demerged from Redstone plc.

http://www.redcentricplc.com/

Acquisition of Calyx Managed Services
RNS
RNS Number : 2361J
Redcentric PLC
02 April 2015

2 April 2015

Redcentric plc

("Redcentric" or the "Company")



Acquisition of Calyx Managed Services



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce that it has conditionally acquired Calyx Managed Services Limited ("Calyx") for a total consideration of £12 million, payable in cash on completion(subject to an adjustment for restructuring costs) (the "Acquisition"). Completion is expected to occur on or around 13 April 2015.

The Acquisition is expected to be immediately earnings enhancing. Calyx's portfolio of services and its range of customers are an excellent strategic addition for Redcentric, which will provide these new customers with high levels of service and exposure to a broader suite of solutions.

Redcentric is acquiring Calyx from MXC Capital Limited ("MXC Capital") following a period of significant restructuring, which included the disposals of the Break Fix and Carrier Services divisions. The acquisition is conditional on the completion of these disposals. Calyx is now a focused IT managed services and professional and infrastructure services business, free of liabilities arising from the restructuring process.

For the year ended 31 December 2014, Calyx's IT managed services and professional and infrastructure services business generated a turnover of £9.1 million and a gross profit of £5.1 million. As at 31 December 2014, the business had gross assets of £4.3 million. The Acquisition will be funded by a new bank facility announced separately today.

Fraser Fisher, Chief Operating Officer of Redcentric, commented;

"We are delighted with this acquisition: it fits our strategy well, and will be earnings enhancing as we expect to generate operating margins in line with our existing business. We welcome the Calyx clients and look forward to providing a high quality service while offering a broader range of solutions. This acquisition builds on our successful and growing Redcentric platform; following the integration of Calyx we will seek to augment our strong organic growth with further acquisitions that fit our investment criteria."



Related Party Transaction

The Acquisition is considered a related party transaction under the AIM Rules for Companies ("AIM Rules") on the basis that MXC Capital is a substantial shareholder in the Company and Tony Weaver, CEO of Redcentric, is a substantial shareholder of MXC Capital by virtue of his interest in MXC Holdings Limited (which is interested in 53 per cent. of the share capital of MXC Capital). In addition, Redcentric is paying corporate finance advisory fees of £300,000 to MXC Capital Advisory LLP ("MXCA") for advisory services in relation to the Acquisition (the "Advisory Fee") under an existing engagement with MXCA which is retained as corporate finance adviser to the Company. The payment of the Advisory Fee is considered to be a related party transaction under the AIM Rules for Companies on the basis that MXC Capital is the ultimate controlling party of MXC Capital Advisory LLP.

The directors, with the exception of Tony Weaver who is considered a related party under the AIM Rules for the purposes of the Acquisition and the Advisory Fee, consider, having consulted with finnCap Limited, that the terms of the Acquisition and the Advisory Fee are fair and reasonable insofar as shareholders of the Company are concerned.

Redcentric PLC (RCN:LSE) set a new 52-week high during today's trading session when it reached 167.00. Over this period, the share price is up 37.39%.

15 Jun finnCap 205.00 Corporate

Contract Win
RNS
RNS Number : 4191R
Redcentric PLC
29 June 2015

29 June 2015

Redcentric plc

("Redcentric" or "the Group")



Contract Win



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce that it has won a major new contract with the Health and Social Care Information Centre (HSCIC) worth in excess of £3.5 million.



Through the two year contract Redcentric will provide Database as a Service (DBaaS) devised to support a national infrastructure programme. DBaaS will power a repository for healthcare data in England enabling a range of reporting and analysis to support the NHS in the delivery of healthcare services. Delivered by Redcentric's team of database experts, the managed service is a proven model for delivering high availability cloud database environments and will support HSCIS's critical repository. DBaaS, procured via the G-Cloud framework, will be provided from Redcentric's England based secure and accredited data centres, delivering a highly scalable and high performance system.



Fraser Fisher Chief Operating Officer, commented: "We are delighted to be able to announce this contract win with the HSCIC. This latest win represents the continued endorsement of Redcentric's managed services and expertise within the Healthcare sector."

Jim Slater - Redcentric

Redcentric provides computer services from four data centres and networks around the UK – the current focus is to form long-term services contracts, working in partnership with the IT teams of its customers.

The results for the year ended March 31 were well up to expectations with growth in earnings per share of 33pc. More than 80pc of the company’s revenue is recurring and cash flow is strong.

In April, Redcentric made a £12m earnings-enhancing acquisition of Calyx, funded by a new £40m credit facility. Finncap, the company’s broker, forecasts 30pc growth in earnings per share next year and has a target price of 205p. At 182p the prospective p/e ratio is 16 and the shares are a strong hold

AGM statement
RNS
RNS Number : 5825X
Redcentric PLC
01 September 2015

1 September 2015

Redcentric plc

("Redcentric" or the "Company")



AGM statement



Redcentric announces that at the Annual General Meeting to be held at 10.00am this morning at 100 Fetter Lane, London EC4A 1BN, the Chairman, Chris Cole, will make the following statement:

"Following a good start to the year, the Company is trading well and in line with expectations. The integration of Calyx Managed Services is proceeding to plan. "

Redcentric will provide a fuller update on first half performance in its pre-close trading announcement.

Redcentric PLC (RCN:LSE) set a new 52-week high during today's trading session when it reached 197.00. Over this period, the share price is up 59.35%.

Pre-close Trading Update and Board Change
RNS
RNS Number : 6047A
Redcentric PLC
30 September 2015

30 September 2015

Redcentric plc

("Redcentric" or the "Company")



Pre-close Trading Update and Board Change

Redcentric plc (AIM:RCN), a leading UK IT managed services provider, announces a pre-close trading update covering the six months to 30 September 2015. The Group expects to announce its interim results on 9 November 2015. The company also announces that Fraser Fisher, currently Chief Operating Officer, is to be appointed Chief Executive Officer of the Company in succession to Tony Weaver, who remains on the Board as a non-executive Director.

Trading highlights

· Trading in line with market expectations

· Continued strong organic growth in recurring revenues

· New business momentum maintained, with some notable £1m plus contract wins

· Calyx integration on plan, full contribution in second half

· Strong cash generation

The strong start to trading noted earlier in the year has continued through the first half, with some significant new contracts augmenting the high levels of recurring revenues, which are in excess of 80% of total revenues. During the first half several significant contracts were won, including five £1m plus contracts with both Government and commercial clients.

The integration of Calyx Managed Services, acquired in April 2015, has progressed to plan. The financial benefits of the acquisition will be felt in full in the second half of the year.

Cash generation remains strong, and the company has substantial headroom in its recently renewed banking facilities.

Board changes

Fraser Fisher, the Chief Operating Officer of the Company, will become the Chief Executive Officer of the Company on publication of the Company's interim results on 9 November 2015, in succession to Tony Weaver, who will remain on the Board as a non-executive Director of the Company.



Chris Cole, Chairman of Redcentric commented:

"Redcentric is trading strongly. The high level of recurring revenue, increasing traction in the £1m plus contract market and the successful integration of Calyx all combine to give the Board confidence in the company's prospects.

I will be delighted to welcome Fraser as our new CEO. Fraser has a wealth of operational experience and has already made a significant contribution to the business. I am pleased that Tony Weaver will remain on the Board as a non-executive director, providing business continuity as well as maintaining our important links with MXC Capital who have been supporting the development of Redcentric's successful position in the AIM technology sector".

Upgrade = 30 Sep Numis 220.00 Buy

MIDAS-SHARE-TIPS-Make-killing-Redcentric-firm-helps-power-net.

Half Yearly Report
RNS
RNS Number : 9045E
Redcentric PLC
09 November 2015

9 November 2015

Redcentric plc

("Redcentric", "the Company" or "the Group")



Unaudited Interim Results for the six months ending 30 September 2015

Redcentric plc (AIM:RCN), a leading UK IT managed services provider, today announces its unaudited interim results for the six months ended 30 September 2015.

Highlights

· Revenue up 15% to £54.0m (H1 FY15: £46.8m), representing 8% organic growth

o Recurring revenue up 18% (12% organic) to £43.9m

· Adjusted EBITDA* up 17% to £11.8m (H1 FY15: £10.1m)

o Adjusted EBITDA* margin of 21.8% (H1 FY15: 21.5%)

· Adjusted profit before tax** up 22% to £5.0m (H1 FY15: £4.1m)

· Calyx Managed Services acquired for £12.0m in April 2015, integration completed September 2015

· Adjusted EPS*** up 18% to 4.70p (H1 FY15: 4.00p). Statutory EPS 0.76p (H1 FY15: 2.28p)

· Interim dividend up 50% to 1.5p per share (H1 FY15: 1.0p)

· Net bank debt £16.5m (31 March 2015: £4.8m) post Calyx acquisition, expected to reduce steadily with ongoing cash generation

· The business continues to trade in line with the Board's expectations and the Board is confident of the full year outlook



Fraser Fisher, Chief Executive Officer of Redcentric commented:

"Redcentric has continued to perform well in the first half, with some very impressive contract wins, good sales momentum and the successful integration of Calyx. Our focus continues to be on growing our recurring revenue base by providing our customers with market leading services, allowing them to concentrate on their core business."



Chris Cole, Chairman of Redcentric commented:

"These first half results demonstrate the continued growth pattern seen in previous periods. The Calyx acquisition and subsequent integration have enabled us to expand our contract base, and demonstrates both the scalability of the platform and the ambition the board has to deliver increasing shareholder value over the coming years."



* Earnings before interest, tax, depreciation, amortisation of acquired intangibles, transaction and integration costs and share based payments.

** Adjusted profit before tax excludes transaction and integration costs. Statutory profit before tax was £1.4m (H1 FY15: £3.9m).

*** Adjusted Earnings per Share excludes amortisation of acquired intangibles, transaction and integration costs and share based payments and replaces the reported tax credit with a notional tax charge at the full rate of corporation tax.





An analyst presentation will be held at 9.30am on Monday 9th November 2015 at Tulchan Communications, 2nd Floor, 85 Fleet Street, EC4Y 1AE, London.

9 Nov Numis 220.00 Buy
9 Nov finnCap 245.00 Corporate
3 Nov finnCap 205.00 Corporate

Acquisition of City Lifeline
RNS
RNS Number : 3713N
Redcentric PLC
29 January 2016

29 January 2016

Redcentric plc

("Redcentric" or the "Company")



Acquisition of City Lifeline



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce the acquisition of City Lifeline Limited ("City Lifeline") for a total consideration of £4.8 million, paid in cash on completion and subject to adjustment for cash, debt and normal working capital.



City Lifeline owns and operates one of the best connected datacentres in London, and has been trading for over 20 years. Its site in Tech City provides a secure, reliable location from which its customers operate business critical infrastructure. In the year to 31 December 2015 City Lifeline generated revenue of £3.5 million, all recurring, and EBITDA of £0.6 million.



The acquisition of City Lifeline represents another step in Redcentric's growth strategy, providing a well-established London datacentre to complement its existing infrastructure of owned datacentres in Harrogate, Reading and Cambridge together with its national fibre network.



As well as continuing to support City Lifeline's existing customers, the London datacentre will provide Redcentric with significant expansion capacity. The acquisition is expected to be immediately earnings enhancing.



Fraser Fisher, Chief Executive Officer of Redcentric, commented;

"City Lifeline is a great addition to our network of datacentres, something we've been seeking in London for a while. This is a low risk move, earnings enhancing from day one and is a further step in the Redcentric growth strategy".

29 Jan Numis 220.00 Buy
29 Jan finnCap 245.00 Corporate

Pre-close Trading Update

RNS


RNS Number : 6047T

Redcentric PLC

31 March 2016




31 March 2016

Redcentric plc

("Redcentric" or the "Company")



Pre-close Trading Update



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is today issuing a pre-close trading update for the second half of the financial year to 31 March 2016.



The positive momentum reported at the interim results has continued through the second half of the year. Contracted revenues continue to grow, driven both through new client wins and with existing clients taking more services and products.



EBITDA margins have improved as we continue to improve the revenue mix to higher margin services. Overall, revenue and EBITDA are both expected to be in line with expectations.



City Lifeline Ltd, which was acquired for £4.8m on 29 January 2016, is performing in line with plan, and its integration into the wider Redcentric business is progressing well.



During the second half, the business has increased its success-based capital expenditure given the high levels of new customer activity. Following this expenditure and an increase in year-end debtors, principally reflecting the timing of some collections, the Company's balance sheet remains strong, with a net debt to adjusted EBITDA ratio of below 1.0x.



There is good sales momentum, with a strong pipeline of future opportunities. Overall, the Board are confident in the outlook of the business.



Redcentric is expecting to report results for the year to 31 March 2016 on 16 June 2016.



Fraser Fisher, Chief Executive Officer of Redcentric, commented;

"We're pleased with our performance in the second half of the year. The strength of our business model, with its high proportion of recurring revenue, provides stability from which we can plan our growth. We remain confident in the strength of the business to continue to successfully execute its growth strategy".

Disposal of fibre networks
RNS
RNS Number : 7410K
Redcentric PLC
26 September 2016
 
26 September 2016
Redcentric plc
("Redcentric", "the Company" or "the Group")
 
Disposal of Cambridge, Portsmouth and Southampton fibre networks
 
Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce the disposal of its metropolitan area fibre networks in Cambridge, Portsmouth and Southampton to CityFibre Infrastructure Holdings Plc (AIM:CITY, "CityFibre") for a total consideration of £5.0m, in line with book value, paid in cash on completion.
As part of the transaction, CityFibre have also acquired unlit network and ducting from Redcentric in Nottingham, Derby, Northampton and Newbury. Redcentric have signed a network access agreement with CityFibre to provide seamless access to the network in support of its customers, who remain with Redcentric and are unaffected by the disposal.
The network access agreement, which has a ten year duration, with minimum levels of annual commitment, which reduce over time. The expected impact on Redcentric is incremental net cash costs of approximately £0.5m per annum initially, although this is offset by reduced depreciation and interest charges meaning that the transaction is earnings neutral. The transaction strengthens Redcentric's balance sheet, and provides further flexibility for future investment.
 
Fraser Fisher, Chief Executive Officer of Redcentric, commented;
"This disposal is in line with our strategy of control over our customer affecting core assets while not tying up capital where ownership is unnecessary. This mirrors our Datacentre approach where the physical buildings are held on long leases rather than freeholds but we retain complete control of the assets. We will continue to service customers in Cambridge and Portsmouth exactly as before, and expect to generate additional revenues and network efficiencies over time as a result of our developing relationship with CityFibre."

Oh dear

from yesterday

XXXX - 7 Nov '16 - 15:43
I bought some a bit earlier @ 61.45p as the order book got very strong on the bid side

order book DEPTH ( no. trades ) of 43 v 26

The marked down seem overdone considering £10M is on the fry and now bounces from lows of the day

74.25p +11.00 (+17.39%)

RNS from MXCP

"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 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. "

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."

note -
MXCP sold all their holdings in June at about 180p per share netting them £10.6m

Still strong buy imhho. Totally oversold after statement giving clarity, and dealt with immediately. No skeletons in the cupboards with this board of directors.