17th May 2005 08:00
Micro Focus International plc17 May 2005 THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THEUNITED STATES, CANADA, AUSTRALIA OR JAPAN Embargoed for release at 08.00hrs, 17 May 2005 Micro Focus International plc Commencement of unconditional dealings on the Main Market of the London Stock Exchange Micro Focus International plc ("Micro Focus" or the "Company"; LSE MCRO.L), a UKsoftware company, announces that its Ordinary Shares have today commencedunconditional dealings on the Main Market of the London Stock Exchange. On Thursday 12 May 2005 it was announced that the Ordinary Shares being offeredin the global offer to institutional investors (the "Global Offer") would bepriced at 130p per share. Based on this share price, the market capitalisationof the Company at the commencement of conditional dealings was £259.2 million(US$ 487.9 million). Micro Focus raised net proceeds of £52.7 million (orUS$99.3 million) for the Company from the Global Offer. At the close of conditional dealings on Monday 16 May 2005 the price of theOrdinary Shares was 142.5p per share. UBS Investment Bank and Goldman Sachs International acted as Joint GlobalCo-ordinators of the Global Offer. Commenting, Tony Hill, Chief Executive Officer of Micro Focus, said: "We are delighted with the success of the Global Offer in what is currently achallenging marketplace for new issues, and how our messages of improved ITefficiency and reduced risk have been received by investors. The listing willpermit us to capitalise on our opportunities for growth and to drive expansion.This is an important milestone for Micro Focus and we look forward to life as alisted company". Enquiries: Micro Focus Tel: +44 (0)1635 32646Tony Hill Chief Executive OfficerRichard Lloyd Chief Financial Officer UBS Investment Bank Tel: +44 (0)20 7567 8000Benjamin Robertson Executive DirectorJonathan Evans Director Goldman Sachs International Tel: +44 (0)20 7774 1000Richard Snow Managing DirectorBasil Geoghegan Executive Director Financial Dynamics Tel: +44 (0)20 7831 3113Giles SandersonHarriet KeenCass Helstrip Notes to Editors Overview of Micro Focus Micro Focus is a leading provider of legacy development and deployment softwarewith nearly 30 years of experience and well in excess of one million licensedusers and software used by over 70 companies within the 2004 Fortune "Global 100". Micro Focus' innovative software enables its customers to continue to use andextract value from investments in existing information technology infrastructure(i.e. "legacy" assets), including people and processes. By exploiting the latesttechnologies and leveraging the strength of its partners worldwide, Micro Focus'software enable its customers to improve the productivity of applicationdevelopers, take advantage of web services and migrate existing applicationsfrom older platforms, such as the mainframe, to contemporary platforms, such asWindows. As a result, Micro Focus' customers are able to reduce the cost oftheir information technology operations and improve the flexibility of theirbusinesses, while managing the risks associated with legacy development anddeployment. ENDS This announcement has been issued by and is the sole responsibility of thedirectors of Micro Focus International plc (the "Company"). The contents of thisannouncement have been approved by UBS Limited of 1 Finsbury Avenue, London EC2M2PP ("UBS" or "UBS Investment Bank") and by Goldman Sachs International ofPeterborough Court, 133 Fleet Street, London EC4A 2BB solely for the purposes ofsection 21(2)(b) of The Financial Services and Markets Act 2000. UBS and GoldmanSachs International are acting exclusively for the Company and Golden GateCapital and no-one else in connection with the proposed offer of shares in theCompany (the "Offer") and will not be responsible to anyone other than theCompany and Golden Gate Capital for providing the protections afforded toclients of UBS and Goldman Sachs International or for providing advice inrelation to the Offer. This announcement does not constitute or form part of any offer of securities,or constitute a solicitation of any offer to purchase or subscribe forsecurities, and any acquisition of or application for shares in the Offer shouldonly be made on the basis of information contained in the listing particulars(the "Listing Particulars") to be issued in due course in connection with theOffer, and any supplement or amendment thereto. The Listing Particulars willcontain certain detailed information about the Company and its management, aswell as financial statements and other financial data. This announcement is not for release, publication or distribution, directly orindirectly, in or into Australia, Canada, Japan or the United States. This announcement does not constitute an offer of securities for sale in anyjurisdiction, including the United States. The securities referred to hereinhave not been and will not be registered under the US Securities Act of 1933(the "Securities Act"), and may not be offered or sold in the United Statesunless they are registered under the Securities Act or pursuant to an availableexemption therefrom. No public offering of securities of the Company is beingmade in the United States. Certain statements in this announcement are "forward-looking statements". Theforward-looking statements can be identified by the use of forward-lookingterminology including the terms 'believes', 'plans', 'projects', 'targets', 'aims', 'would', 'could', 'anticipates', 'expects', 'intends', 'may' or 'will'and include statements that the Company makes concerning the intended results ofits strategy. The Company's actual results may differ materially from thosepredicted by the forward-looking statements. Subject to any obligations underthe listing rules of the UK Listing Authority following admission to theOfficial List of the London Stock Exchange, the Company undertakes no obligationto update publicly or revise forward-looking statements, except as required bylaw. Such statements are based on current expectations and are subject to anumber of risks and uncertainties that could cause actual results or events todiffer materially from those expressed or implied by the forward-lookingstatements. This does not constitute a recommendation concerning the Offer. The value ofshares can go down as well as up. Past performance is not a guide to futureperformance. Potential investors should consult a professional advisor as to thesuitability of any offering for the individual concerned. Stabilisation/FSA This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MCRO.L