logo-loader
viewMicro Focus International plc

Software giant Micro Focus launches US$200mln share buyback programme

Between now and 23 October, Micro Focus will buy back up to US$200mln worth of shares from investors

share certificate
Bosses have hinted they could buy back more shares as well

Software giant Micro Focus International PLC (LON:MCRO) is to buy back US$200mln worth of shares over the next few months, and hinted it would look at purchasing even more.

The FTSE 100 group, which sells software to banks and retailers that use legacy IT systems, said it would start buying shares today (Wednesday 17 July) and continue to do so until 23 October.

READ: Micro Focus bosses trousers almost £12mln from share sale

Bosses described the US$200mln buyback as “an initial tranche”, and said they could look at extending the programme.

The share price has taken a battering so far this month, down by almost a quarter after its half-year results were met with a few groans in the City.

Shortly after, it came out that executive chairman Kevin Loosemore had sold a chunk of shares worth almost £12mln.

Shares were down 1.3% to 1,662p in early deals on Wednesday.

Quick facts: Micro Focus International plc

Price: 1089.2 GBX

LSE:MCRO
Market: LSE
Market Cap: £3.63 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

PCF Bank's Scott Maybury reports on strong lending growth and increased...

PCF Group Plc's (LON:PCF) Scott Maybury speaks to Proactive London's Andrew Scott after the specialist lender posted record numbers in its latest year. Loans outstanding rose 55% to £339mln with profits for the twelve months to September climbing by 54% to £8mln. Maybury says targets for a...

6 hours, 52 minutes ago

RNS

Total Voting Rights

3 days, 11 hours ago

Trading update

2 weeks, 1 day ago

Director Declaration

2 weeks, 3 days ago

Notification of major holdings

4 weeks, 1 day ago

Total Voting Rights

on 1/11/19

2 min read