Software group Micro Focus has released details of its 82 million pound cash return to shareholders.

The firm said the 50p per share return would be made through an issue of B Shares and/or C shares, which would enable shareholders to elect to receive the proceeds as either income or capital, or any combination of the two.

The first option for shareholders is for every existing ordinary share held at 6.00pm on 25 October 2012, 50p will be returned to them through the issue of one B share, which will then be redeemed by the company.

The second choice for shareholders is to take one C share for every share they hold, on which a dividend of 50p will be paid or which will be purchased by Numis at 50p per share under an offer to be made by them.

The share scheme needs shareholder approval, which will be sought at a company general meeting to be held at 1.30 p.m. on 26 September 2012.

Micro Focus also announced a share consolidation, meaning shareholders would receive 10 new ordinary shares in substitution for every 11 existing ordinary shares.

It said this was necessary to maintain (subject to market fluctuations) the market price for existing ordinary shares at approximately the same level as prevailed immediately prior to the implementation of the new share scheme.

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