Micro Focus : Vesting and Exercise of Stock Award

RNS

15 April 2014

Micro Focus International plc

Vesting and Exercise of Executive Chairman's Stock Award

Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), announces the vesting and exercise of the stock award granted to Kevin Loosemore as Executive Chairman of Micro Focus, following his assumption of this role on 14 April 2011 and detailed in the Annual Report & Accounts 2013.  

The number of shares vesting under the terms of the award is 1,295,328.  Mr Loosemore is also entitled to dividends that would have been paid on the shares during the three year period which amount to 64.02p per share.

The Board has decided to settle Mr Loosemore's award by issuing him shares to the value of the award less applicable taxes and deductions and as a result he is entitled to 686,524 shares. The associated dividends to which he is entitled will be settled through the Group's payroll.

Mr Loosemore instructed the Company to issue 75% of the shares to himself and the remaining 25% to Mrs D Loosemore, his former wife.

As a result of the above Mr Loosemore's beneficial holding of Micro Focus shares has increased from 213,847 to 728,740 shares.

The 686,524 shares that were issued following the vesting and exercise of the Executive Chairman's Incentive Award were all formerly held as Micro Focus Treasury shares and were transferred on 14 April 2014.

Following the above transfer of shares out of Treasury, the Company confirms that its issued share capital comprises 152,419,885 Ordinary Shares of 1313/24 pence each, of which 12,924,806Ordinary Shares are held in Treasury. Therefore, the total number of voting rights in the Company is 139,495,079 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Micro Focus International plc under the FCA's Disclosure and Transparency Rules.

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About Micro Focus

Micro Focus, the international software product group and a member of the FTSE 250, provides innovative software that helps companies to improve dramatically the business value of their enterprise applications.  Micro Focus Enterprise Application Modernization, Testing and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visitwww.microfocus.com