25th Sep 2014 06:47
LONDON (Alliance News) - Micro Focus International PLC said Thursday that Deputy Chairman and non-Executive Senior Independent Director David Maloney has stepped down with immediate effect, in a statement ahead of its annual general meeting.
"On behalf of the Board, I would like to thank David for his very considerable contribution to the business and wish him well in his future. During his nine years on the Board, Micro Focus has consistently driven significant shareholder value," said Chairman Kevin Loosemore in a statement.
The company said that, as it has continued to trade in line with guidance since its last update in August, it will provide no further trading update at the annual general meeting.
In August, the company maintained its outlook, reiterating confidence in achieving low-single-digit revenue growth in the medium term.
At that time, the company announced plans to return a further 60 pence a share in cash or GBP84 million to shareholders. In its last financial year, the company had returned 60 pence a share to shareholders, on top of hiking its total dividend for that year 10.0%.
Micro Focus will release its half-year results December 10.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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