Micro Focus International plc Extension of Share Buy-Back Programme (4539G)
November 06 2018 - 2:00AM
UK Regulatory
TIDMMCRO
RNS Number : 4539G
Micro Focus International plc
06 November 2018
6 November 2018
Micro Focus International plc
Extension of Share Buy-Back Programme
Following its announcement on 5 November 2018, Micro Focus
International plc ("Micro Focus" or "the Group" or "the Company",
LSE: MCRO.L, NYSE: MFGP), the international software product group,
is pleased to announce that it is recommencing its buy-back
programme of Micro Focus ordinary shares (including the ordinary
shares underlying its American Depository Receipts (the "ADRs"))
(the " Extended Programme"). Any shares purchased will be held in
treasury. As previously, the Extended Programme will be effected in
accordance with the terms of the authority granted by shareholders
at the 2017 AGM and the Listing Rules.
In the period 29 August 2018 to 24 October 2018 the Group bought
back 9,858,205 ordinary shares for a total consideration of
approximately $171m. The Extended Programme instructs Citigroup
Global Markets Limited ("Citi") to make trading decisions
independently of the Company to purchase an additional tranche of
ordinary shares to a combined total value of up to $400m, inclusive
of those already purchased. These instructions will commence on 6
November 2018 and will end no later than close of dealings in
London on 13 February 2019 unless Citi or the Company choose to
terminate the agreement. The Company may determine it wishes to
extend the buy-back programme further and, if so, a further
announcement will be made at a later date.
As with the previous buyback programme, in addition to
purchasing ordinary shares on the London Stock Exchange, Citi may
also purchase shares on CBOE Europe Equities and (with the
involvement of a licensed US broker as necessary) acquire ADRs
representing ordinary shares listed on the New York Stock Exchange
which it will cancel for the underlying shares and then sell such
shares to the Company under the Extended Programme. Citi's
acquisition of ordinary shares will be undertaken in compliance
with the price and volume thresholds set out in Regulation No
596/2014 of the European Parliament and of the Council of 16 April
2014 on market abuse and regulations promulgated thereunder. Citi's
additional acquisition of ADRs will be undertaken in compliance
with the provisions of clauses (b)(2), (b)(3), (b)(4) and (c) of
Rule 10b-18 under the Securities Exchange Act of 1934.
The market will be notified in accordance with the Listing Rules
if and when purchases are made by the Company under the Extended
Programme.
Enquiries:
Micro Focus Tel: +44 (0)1635 32646
Kevin Loosemore, Executive Chairman
Stephen Murdoch, CEO
Chris Kennedy, CFO
Tim Brill, IR Director
Powerscourt Tel: +44 (0)20 7250 1446
Elly Williamson
Celine MacDougall
Notes to Editors:
About Micro Focus
Micro Focus (LSE: MCRO.L, NYSE: MFGP) is a global enterprise
software company supporting the technology needs and challenges of
the Global 2000. Our solutions help organizations leverage existing
IT investments, enterprise applications and emerging technologies
to address complex, rapidly evolving business requirements while
protecting corporate information at all times. Our product
portfolios are Security, IT Operations Management, Application
Delivery Management, Information Management & Governance and
Application Modernization & Connectivity. For more information,
visit: www.microfocus.com
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END
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