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Micro Focus Suspends Final Dividend - Quick Facts

Micro Focus International plc. (MCRO.L) said that its board is no longer recommending a final dividend for the year ended 31 October 2019 and therefore it plans to withdraw resolution relating to the approval of a proposed final dividend of 58.33 cents per ordinary share at its forthcoming Annual General Meeting. The move is due to the current increased macro uncertainty, which has been impacted by the global spread of COVID-19.

The company said it will consider paying a second interim dividend in respect of the year ended 31 October 2019 once there is some visibility on the effects of the COVID-19 on the company's business.

The company's Annual General Meeting will be held on 25 March 2020.

In view of the ongoing COVID-19 pandemic, Micro Focus is asking shareholders to appoint the Chairman as their proxy -- either electronically or by post-- with their voting instructions rather than attend the AGM in person.

The deadline for voting is on 23 March 2020 for shareholders and on 18 March 2020 for ADR shareholders.

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