On the 7th November 2016, out of the blue, Redcentric plc published a shock announcement disclosing the discovery of misstatements in the company’s accounts.
Unsurprisingly, this announcement precipitated a collapse in the company’s share price from 150p to 63p that day (it had previously traded as high as 200p earlier in 2016 and has subsequently recovered somewhat).
The announcement, and subsequent announcements, combined with previous events raises serious concerns for shareholders in Redcentric. On behalf of individual shareholders, ShareSoc is investigating what occurred, with a view to ensuring that appropriate action is taken.
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