Micro Focus to buy back shares

28th Mar 2011 12:15

Legacy software specialist Micro Focus has flagged plans to buy back as many as 20.5m of its own shares.Today's announcement follows a slump in the share price mid-February following a second profits warning in six months."The timing and quantum of any purchases will be determined by Micro Focus in accordance with the above parameters and in consultation with its joint brokers, Numis Securities Limited and UBS Limited, with regard to prevailing market conditions and any other relevant considerations," it said Monday."Micro Focus confirms that it is not currently in possession of any unpublished price sensitive information."LW