Results out 6/12/2007/ Promises are positive.

Projected earnings are reasonable.

But DYOH

one to short perhaps especially if the market in general starts to slide

StockMarketWire.com
Micro Focus International said its net debt at Jan. 31 was $1,510 million and that since that date the Group has used surplus cash and drawn down $75m of its $225m Revolving Facility to make a voluntary repayment of $150 million of the Term Loan B.

The Group's objective remains to reduce net debt to 2.5 times Facility EBITDA.

If this repayment had been made at 31st January 2015 it would not have impacted the Group's net debt position, however, following this voluntary repayment the gross debt of the Group (excluding $150 million undrawn under the Revolving Facility) totals $1,700 million (consisting of $1,125 million Term Loan B, $500 million Term Loan C and $75 million Revolving Facility) compared with gross debt (excluding $125 million undrawn under the Revolving Facility) of $1,875 million at completion of the transaction.

StockMarketWire.com
Micro Focus International confirms its full year guidance on a constant currency basis and provides an update on the integration of the Attachmate Group (TAG) into the Group following completion of the Integration Review.

At the Interim results presentation in December 2014, management provided guidance of combined pro-forma full year revenues of about $1,330 million and combined pro-forma full year Underlying Adjusted EBITDA of about $500 million, based on the exchange rates then prevailing.

The Board is pleased to confirm that the Group has continued to trade in line with this guidance on a constant currency basis. Since the turn of the calendar year the US$ has strengthened significantly against key currencies to which the Enlarged Group is exposed.

When comparing the spot exchange rates at 27 February 2015 to the average exchange rate experienced in the six months to 31st October 2014, the GBP is 7.4% weaker against US$, the Euro is 15.7% weaker and the Japanese Yen is 13.0% weaker.

If this spot exchange rate was used to restate the pro-forma full year numbers on a constant currency basis then pro-forma full year revenues would reduce from c. $1,330 million to $1,240 million and Underlying Adjusted EBITDA would reduce to c. $470 million.

Integration Review:

On 20 November 2014 Micro Focus completed its merger transaction with TAG. Since that date Micro Focus has been conducting a detailed Integration Review which is now complete. The objective of the review was to build a strong plan and foundation on which to deliver the Group's potential.

Prior to the merger with TAG, Micro Focus managed its portfolio of mature infrastructure products through a global product management and development organisation and with a geographic go to market (GTM) organisation.

Fundamental to this approach was an analysis of the individual products, their markets, customers and growth potential. This approach has served us well and as part of the Integration Review we have applied this approach to the portfolio of products in the Enlarged Group.

As the Linux market and Open Source community has unique characteristics, we will have a dedicated focus on the SUSE product portfolio headed by Nils Brauckmann as President and General Manager, SUSE.

This focus is essential if we are to capitalise on the growth potential of these products and be responsive to the open source community and heritage of SUSE. We are increasing the headcount dedicated to development, customer care and sales and marketing of the SUSE portfolio.

The rest of our products will be managed as a portfolio led by Stephen Murdoch, Chief Operating Officer of Micro Focus. This portfolio will comprise products that were in Micro Focus, NetIQ, Attachmate and Novell.

Breaking out and upwards.

The debt is a tad hairy but so long as they're generating this kind of revenue then the pe isn't demanding. Fantastic company for shareholders.

Citigroup reiterates buy on Micro Focus International, target raised from 1275p to 1450p.

StockMarketWire.com
Micro Focus International, the software product group, has reported a strong finish for the year ended 30 April 2015.

The Board says that the Group expects to report revenues and underlying adjusted EBITDA comfortably in line with guidance on a constant currency basis.

The TAG merger was completed in November and so Micro Focus's reported results will include the operating performance of TAG for the period from 20 November 2014 to 30 April 2015.

The Group expects to report revenues of around $835m and at least $345m of underlying adjusted EBITDA.

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StockMarketWire.com
Micro Focus is to acquire the entire share capital of Spartacus Acquisition Holdings, the holding company of Serena Software and its subsidiaries at an enterprise value of USD540m, payable in cash at completion.

"The acquisition is highly consistent with the Group's established acquisition strategy and focus on the efficient management of mature infrastructure software products," the company said in a statement.

The deal is being funded through the group's existing cash resources together with additional debt and equity finance arranged through Barclays, HSBC and Numis Securities.

The Group's existing revolving credit facility, which is currently undrawn, has been extended from USD225m to USD325m and Micro Focus is today raising approximately GBP150m through a placing underwritten by Numis Securities.

StockMarketWire.com
Micro Focus International said its full-year revenue came in at $3.2bn, down 12% on the year-earlier period, but up 1% when adjusted for divestitures and forex moves.

Its FY operating profit was $749m, representing an improved operating margin of 23.4%.

Fourth-quarter revenue was $903m, down 6% on the year but flat when adjusted for divestitures and forex moves. Q4 operating profit was $290m, revealing an improved operating margin of 32.1%.

StockMarketWire.com
Micro Focus has lifted its H1 pretax profit by 14.6% to $113.2m, from $98.8m a year ago. Dividend per share was 29.73 cents, up 75.5% from 16.94 cents.

Total reported revenue was $684.7m, from $604.5m.

"The board is delighted with our progress," said executive chair Kevin Loosemore in a statement.

"Our focus on delivering to our customers by making detailed product by product decisions and investments has resulted in the business achieving modest like-for-like revenue growth.

"Our investments have resulted in strong growth in SUSE and a reduced rate of decline in the Micro Focus portfolio.

"Whilst we have had a good start to the year and completed two acquisitions, we are maintaining our revenue guidance for FY17 being in the range minus 2% to zero% on FY16 on a constant currency (CCY) basis, pro-forma for the acquisition of Serena.

"Mergers and acquisitions continue to be a key component of our strategy. The key strategic announcement in the period was the HPE Software transaction which is on target to complete in the third quarter of calendar year 2017.

"This is a complex transaction that will transform the Group in a similar way to the Attachmate transaction back in 2014 and provides the opportunity for enhanced shareholder returns over the medium-term.

"The acquisition of Serena completed at the beginning of the period together with a number of small acquisitions across the business comprising GWAVA Inc., openATTIC on 1 November and the OpenStack IaaS and Cloud Foundry Paas talent and technology assets from HPE which was announced on 30 November and is currently expected to close in the first quarter of calendar year 2017.

"We are delighted to announce that our interim dividend is increasing to 29.73 cents from 16.94 cents in line with our twice covered dividend policy."

Micro Focus International plc ("Micro Focus" or the "Company"), the global infrastructure software business, and HPE announced on 7 September 2016 that they had reached a definitive agreement on the terms of a transaction (the "Transaction") pursuant to which the Company has agreed to acquire HPE Software by way of the merger (the "Merger") with a wholly owned subsidiary of HPE incorporated to hold the business of HPE Software for the purposes of the Transaction.

European Union Competition Clearance
Micro Focus and HPE are pleased to announce that they received confirmation earlier today from the European Union ("EU") that it will not initiate proceedings under Article 6(1) of the EU Merger Regulation in relation to, or any matter arising from, the Transaction ("EU Competition Clearance"). The Transaction has already received confirmation under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and remains subject to certain conditions including Micro Focus's shareholders approving the Transaction and the receipt of certain regulatory approvals which remain outstanding. A Circular will be issued to Micro Focus shareholders in May 2017 which will include a notice convening a general meeting to seek such shareholder approval.

Completion of the acquisition by SUSE of certain assets and talent from HPE
SUSE® has completed its acquisition of technology and talent from Hewlett Packard Enterprise (HPE), which SUSE announced late last year. SUSE will use the acquired assets to expand its OpenStack Infrastructure-as-a-Service (IaaS) solution and accelerate the company's entry into the growing Cloud Foundry Platform-as-a-Service (PaaS) market.

The acquired OpenStack assets will be integrated into SUSE OpenStack Cloud, and the acquired Cloud Foundry and PaaS assets will enable SUSE to bring to market a certified, enterprise-ready SUSE Cloud Foundry PaaS solution for all customers and partners in the SUSE ecosystem. In addition, HPE has named SUSE as its preferred open source partner for Linux, OpenStack IaaS and Cloud Foundry PaaS. The two companies also have a non-exclusive agreement under which HPE will OEM SUSE's OpenStack IaaS and SUSE's Cloud Foundry PaaS technology for use inside HPE's Helion OpenStack and Helion Stackato solutions. The net impact on Underlying Adjusted EBITDA of these arrangements in the current financial year is estimated at $3m and in the following 12 months is estimated to be $8m.

Intention to align Micro Focus's accounting year end with HPE Software's year end in connection with completion of the Merger
Upon completion of the Merger with HPE Software, Micro Focus intends that, in order to align financial year ends between HPE Software and Micro Focus and conditional upon the completion of the Merger, Micro Focus will align its year end with HPE Software's year end of 31 October, with the first accounting period to be audited after the Merger has completed being for the 18 months ended 31 October 2018. During this extended accounting period and in order to comply with the UK Listing Rules, Micro Focus will also publish an unaudited interim report for the six months ended 31 October 2017 and a second unaudited interim report for the six months ended 30 April 2018.

Further to the announcement by Micro Focus International plc ("Micro Focus" or the "Company") on 7 September 2016 relating to the proposed transaction whereby Micro Focus has agreed to combine with the software business segment ("HPE Software") of Hewlett Packard Enterprise Company ("HPE") by way of a merger (the "Transaction"), Micro Focus announces today that the registration statement on Form F-4 relating to the Micro Focus ordinary shares underlying the Micro Focus American Depositary Shares to be issued in connection with the Transaction (the "Form F-4") has been filed with the U.S. Securities Exchange Commission (the "SEC"). The Form F-4 filing can be found here: https://www.sec.gov/Archives/edgar/data/1359711/000156761917001576/s001663x9_f4.htm

The Form F-4 has not yet become effective and the information contained therein is subject to change. The Company expects the Form F-4 to become effective in mid to late August 2017.

Capitalised terms not otherwise defined in this announcement shall have the same meaning as those defined in the Form F-4.

Expected timetable of events:
The following dates assume the satisfaction of the conditions to completion of the Transaction by 30 August 2017 (other than those conditions that are intended to be satisfied contemporaneously with completion) but are indicative only and subject to change:

Publication of Prospectus

28 July 2017 Filing of Form F-4

3 August 2017 Record time for the Return of Value and Share Capital Consolidation

6.00 p.m. on 31 August 2017 B shares issued

7:00 p.m. on 31 August 2017 B shares redeemed

11:59 p.m. on 31 August 2017 Share Capital Consolidation effected and New Ordinary Shares admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities

8:00 a.m. on 1 September 2017 Completion of the Transaction

StockMarketWire.com
Micro Focus International has completed the merger of its wholly owned subsidiary with Seattle SpinCo, which holds the software business segment (HPE Software) of Hewlett Packard Enterprise.

On admission, American Depositary Shares representing 222,166,897 consideration shares were issued to HPE shareholders, representing 50.1% of the fully diluted share capital of the company.

Micro Focus has completed the return of value to shareholders of approximately £386,130,203, in cash, by way of the B Share Scheme.

It is intended that cheques will be dispatched or CREST accounts credited (as appropriate) in respect of the proceeds of the redemption of the B Shares by 15 September 2017.

Chris Hsu, who was executive vice president and general manager of HPE Software as well as chief operating officer at HPE, has become chief executive officer of Micro Focus and an executive director of Micro Focus with effect from completion.

Stephen Murdoch (the former chief executive officer of Micro Focus) has stepped down from the board and has become the chief operating officer of Micro Focus.

Kevin Loosemore, executive chairman of Micro Focus, said: "The combination of Micro Focus and HPE Software represents a step change in Micro Focus' scale. The enlarged company's customer proposition draws on a rich heritage of technology innovation, global resources and a highly skilled workforce - all of which can now benefit from our effective business model.

"We are ideally placed to support customers and partners as they demand relevance and value from their established investments in technology. At the same time, this corporate development is wholly aligned with Micro Focus' commitment to deliver sustainable 15-20% annual shareholder returns, offering significant opportunities to deliver further value from the combined operations."

Another Shares magazine tip goes splat.

Biffa
Dignity

"The balance between risk and reward looks very attractive. Someone ain't doing their research!

Now this down 54% after being tipped last week in Shares!

Incredible its down 60%.

StockMarketWire.com
Software product group Micro Focus International downgraded its revenue guidance and said its chief executive, Chris Hsu, had resigned.

The company now expected revenue for the year through October to be 6-9% below the prior year. That compared to previous guidance of a 2-4% fall.

The impact of the downgrade on the adjusted Ebitda margin was expected to be mitigated by planned cost cutting, which was tracking ahead of schedule, the company said.

Hsu had resigned with immediate effect 'in order to spend more time with his family and pursue another opportunity', Micro Focus said. He had been replaced by chief operating officer Stephen Murdoch.

The revenue downgrade was blamed on several factors, including disruptions from the implementation of a new IT system, higher staff turnover, continued 'sales execution issues' and disruption of ex-Hewlett Packard Enterprise customer accounts as a result of a de-merger of Hewlett Packard Enterprise.

For the six months through April, revenue on a constant currency basis was expected to fall by 9-12%.

At the midpoint of the revenue guidance range, cost reductions would enable the company to achieve an adjusted Ebitda margin percentage of around 37% in the year through October.

'We remain confident in Micro Focus' strategy whilst recognising that operational issues have led to a disappointing short term performance and outlook,' chairman Kevin Loosemore said.

'We believe that Micro Focus is well positioned to help our customers with the increasing pace of change across their Hybrid IT environments and to deliver customer centred innovation.'

StockMarketWire.com
Software supplier Micro Focus International said it expected its annual revenue to be at the better end of its most recent annual guidance range, while also announcing that chief financial officer Chris Kennedy was leaving the company.

Trading continued to track in line with expectations, with an improved revenue trajectory in the second half.

Consequently, revenue in constant currency terms for the year through October was expected at the better end of a guidance range for a fall of between 6% and 9%, the company said.

Trading had also been consistent with the company's adjusted Ebitda margin guidance of around 37% at the midpoint of that revenue range.

Micro Focus said Kennedy would leave in the first quarter of 2019 to join broadcaster ITV.

He would be replaced by Brian McArthur-Muscroft, was most recently CFO of Paysafe Group and had also held the CFO role at TeleCity Group.

Micro Focus also announced that it planned to recommence its buy-back programme.

In the period 29 August to 24 October the company bought shares worth around $171m.

The extended program, when initiated, would cover an additional tranche of shares to a combined total value of up to $400m, inclusive of those already repurchased.