Micro Focus International plc Announcement of changes to AGM resolutions (4939J)
12 September 2016 - 4:01PM
UK Regulatory
TIDMMCRO
RNS Number : 4939J
Micro Focus International plc
12 September 2016
12 September 2016
Micro Focus International plc
Announcement of changes to AGM resolutions
Following discussions with ISS, IVIS and a number of
shareholders, the Company announces changes to certain of the
resolutions proposed by it at its forthcoming Annual General
Meeting to be held on 22 September 2016 (the "AGM"). As a result of
those discussions it is now intended that a motion will be put at
the AGM to withdraw Resolution 20 (relating to the additional
disapplication of statutory pre-emption rights). It is also
proposed to seek the approval of a motion at the AGM to amend
Resolution 5 (relating to the approval of a new Additional Share
Grant ("ASG") programme) so as to provide that on a change of
control of the Company the ASGs will not automatically vest in full
but instead the extent to which they vest on a change of control
will (i) be time apportioned (reflecting the time elapsed between
the effective date of grant to the date of any change of control as
a proportion of the normal vesting period of 3 years) and (ii) be
subject to satisfaction of any performance conditions.
ENDS
Enquiries:
Micro Focus Tel: +44 (0) 635
32646
Kevin Loosemore, Executive
Chairman
Mike Phillips, Chief
Financial Officer
Tim Brill, IR Director
Powerscourt Tel: +44 (0) 20
7250 1446
Peter Ogden
Sophie Moate
This information is provided by RNS
The company news service from the London Stock Exchange
END
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