DIRECTOR DEALINGS: Five Micro Focus Directors Snap Up Shares

LONDON (Alliance News) - Micro Focus International PLC on Wednesday announced share purchases by five different directors, including its chairman and chief executive.

Executive Chairman Kevin Loosemore bought 20,156 shares at a price of 1,006.50 pence each, at a total cost of GBP202,779 in a transaction on Wednesday.

Chief Executive Stephen Murdoch, who replaced former CEO Kevin Hsu on Monday, bought 5,390 shares at 920.00p, for a cost of GBP49,588, also on Wednesday.

Micro Focus Chief Financial Officer Chris Kennedy purchased 10,000 shares at a price of 928.00p per share on Wednesday for GBP92,800.

Senior Independent Non-Executive Director Karen Slatford bought 9,915 shares on Wednesday at a price of 1,001.00p each, for GBP99,249.

Lastly, Independent Non-Executive Director Darren Roos purchased on Wednesday 4,926 shares at 1,009.56p per share for GBP49,731.

The FTSE 100-listed software firm said Monday its year-on-year revenue decline has been "greater than anticipated" since reporting its interim results in January. As a result, it expects constant-currency revenue for the year ending October to decline more than originally forecast.

Micro Focus now expects pro forma constant-currency revenue to fall between 6% and 9%. This is compared to a 2% to 4% fall originally forecast in January.

The company saw around GBP3.75 billion wiped off its market value, with stock closing down 46% on Monday. On Wednesday, shares were down 3.2% at 960.20p, having been at 1,884.50p last Friday and as high as 2,739.00p last November.