4th Sep 2013 08:01
LONDON (Alliance News) - Micro Focus International PLC Wednesday said it is proposing to return about GBP90 million, or 60 pence a share, to shareholders through an issue of shares that allow investors to take either income or capital, or both.
It said it would issue D shares which will either have a dividend of 60 pence paid on them, or be bought by broker Numis for 60 pence a share.
The software and IT firm said it would seek permission from shareholder for the issue at a general meeting September 26.
It said it would also propose to consolidate its existing ordinary shares to try and keep its share price at about the same level as before the return. It said shareholders will get 12 new shares for every 13 shares they currently hold.
The stock was down 3.6% at 742.85 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
MCRO.L