Micro Focus stock fell 5 per cent, knocking about £300 million off its market value Eddie Keogh/ReutersThe boss of Micro Focus has made more than £11 million after offloading half of his stake in the software developer, heaping further pressure on its creaking share price. The disposal by Kevin Loosemore came less than a week after disappointing half-year results amplified concerns over its takeover of Hewlett Packard’s software division. The 2017 acquisition propelled Micro Focus into the FTSE 100, but has proved much tougher to digest than expected. Mr Loosemore, executive chairman, sold 650,000 shares this morning at an average of £17.77 each, scooping £11.55 million. “Until now, all of my assets have been held in Micro…

Source: The Times July 15, 2019 16:07 UTC