FREQUENTLY ASKED QUESTIONS Documents/Micro...You can save from £10 - £500 per month over a 3 year...
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12NVSB D03 HOW DOES SHARESAVE WORK? You can save from £10 - £500 per month over a 3 year savings period*. • Your savings are deducted directly from your net pay (aŌer Income Tax and NaƟonal Insurance ContribuƟons). • You cannot change your monthly savings amount, but should your circumstances change during the 3 year period you can: • Close your Sharesave account at any Ɵme and your money will be refunded to you. Please remember, if you do this, you will lose the right to buy shares. • Delay making up to 12 monthly payments. If you do, the end date of your plan (known as the Maturity Date) will be postponed by 1 month for each missed payment. If you miss more than 12 monthly payments, we will write to you to advise that your Sharesave account will need to be closed and your savings returned to you. You will also lose the right to buy shares. *If applicaƟons exceed the maximum number of shares permiƩed and the Sharesave is oversubscribed, your contribuƟon may be reduced and the number of opƟons you receive may be scaled back. AŌer 3 years you can either: Buy Micro Focus shares at the 20% discounted price set at the start of the plan. This price is known as the OpƟon Price. • The OpƟon Price is calculated by taking the Micro Focus share price at the Ɵme of the launch (the OpƟon Price), then applying a 20% discount. • The OpƟon Price will stay the same during the 3 year saving period, regardless of whether the Micro Focus share price goes up or down. • If the Micro Focus share price is higher than the OpƟon Price aŌer the 3 year saving period, you can sell your shares and take the profit, or keep them and become a Micro Focus shareholder. OR Take back the money you’ve saved. • If the Micro Focus share price is below the OpƟon Price aŌer the 3 year savings period, you can simply withdraw all the money you have paid in. • Remember you can take your savings back at any point during your saving period, but you will lose your right to purchase shares at the OpƟon Price. WHAT IF IM ALREADY IN SHARESAVE? If you already parƟcipate in Sharesave, the £500 maximum monthly savings limit applies to the total of your savings across all plans, so you will need to take this into account when deciding how much to save into a new plan. For example if you save £200 in an exisƟng Sharesave plan, the maximum amount you can save in this Sharesave is £300 per month. Please note you will be able to cancel previous Sharesave contracts throughout the invitaƟon period should you wish to increase your available contribuƟon limit for this offer. However, if applicaƟons exceed the maximum number of shares permiƩed and this Sharesave offer is oversubscribed, your contribuƟons may be reduced and the number of opƟons you receive may be scaled back. MICRO FOCUS SHARESAVE FREQUENTLY ASKED QUESTIONS
Transcript of FREQUENTLY ASKED QUESTIONS Documents/Micro...You can save from £10 - £500 per month over a 3 year...
12NVSB D03
HOW DOES SHARESAVE WORK?You can save from £10 - £500 per month over a 3 year savings period*.
• Your savings are deducted directly from your net pay(a er Income Tax and Na onal Insurance Contribu ons).
• You cannot change your monthly savings amount, but should your circumstances change during the 3 year period you can:
• Close your Sharesave account at any me and your money will be refunded to you. Please remember, if you do this, you will lose the right to buy shares.
• Delay making up to 12 monthly payments. If you do, the end date of your plan (known as the Maturity Date) will be postponed by 1 month for each missed payment. If you miss more than 12 monthly payments, we will write to you to advise that your Sharesave account will need to be closed and your savings returned to you. You will also lose the right to buy shares.
*If applica ons exceed the maximum number of shares permi ed and the Sharesave is oversubscribed, your contribu on may be reduced and the number of op ons you receive may be scaled back.
A er 3 years you can either:
Buy Micro Focus shares at the 20% discounted price set at the start of the plan. This price is known as the Op on Price.
• The Op on Price is calculated by taking the Micro Focus share price at the me of the launch (the Op on Price), then applying a 20% discount.
• The Op on Price will stay the same during the 3 year saving period, regardless of whether the Micro Focus share price goes up or down.
• If the Micro Focus share price is higher than the Op on Price a er the 3 year saving period, you can sell your shares and take the profi t, or keep them and become a Micro Focus shareholder.
OR
Take back the money you’ve saved.
• If the Micro Focus share price is below the Op on Price a er the 3 year savings period, you can simply withdraw all the money you have paid in.
• Remember you can take your savings back at any point during your saving period, but you will lose your right to purchase shares at the Op on Price.
WHAT IF IM ALREADY IN SHARESAVE?If you already par cipate in Sharesave, the £500 maximum monthly savings limit applies to the total of your savings across all plans, so you will need to take this into account when deciding how much to save into a new plan. For example if you save £200 in an exis ng Sharesave plan, the maximum amount you can save in this Sharesave is £300 per month.
Please note you will be able to cancel previous Sharesave contracts throughout the invita on period should you wish to increase your available contribu on limit for this off er. However, if applica ons exceed the maximum number of shares permi ed and this Sharesave off er is oversubscribed, your contribu ons may be reduced and the number of op ons you receive may be scaled back.
MICRO FOCUS SHARESAVE
FREQUENTLY ASKED QUESTIONS
12NVSB D03
AM I ELIGIBLE?Employees of the Micro Focus group, advised to Computershare as at 30 June 2020, will be invited to enrol. Any employees joining subsequent to this and remaining with the company will have opportuni es to take part in any future invita ons.
Contractors, Temporary/Agency staff and interns are not eligible.
HOW MANY SHARES CAN I BUY?This depends on how much you choose to save and the Op on Price. This is calculated by dividing your total savings by the Op on Price at the me of the launch. This is the maximum number of shares you will be able to buy. The more you save, the more shares you will be able to buy. Share prices can fall as well as rise; therefore you should check the share price of Micro Focus Interna onal Plc shares regularly just prior to deciding whether or not to buy the shares.
WHAT TAX WILL I PAY?Your acquisi on of shares is free from any income tax. However, you may have to pay Capital Gains Tax (CGT) if you sell your shares at or following maturity and make a profi t which takes you above the CGT exemp on limit for that tax year (the limit for 2020/21 is £12,300).
WHAT HAPPENS IF…We realise that over 3 years your personal circumstances can change. If any of the below changes occur, you will be no fi ed of the choices available to you.
I WANT TO STOP MY SHARESAVE CONTRACT? You don’t always have to close your account. You may suspend your monthly payments for up to a maximum of 12 months during the savings period by contac ng your payroll department. If this happens, the maturity date will be delayed by one month for each payment missed. If you miss more than 12 payments we will write to you to advise that your Sharesave account will need to be closed and your savings returned to you. You will also lose the right to buy shares.
I WANT TO CLOSE MY ACCOUNT?If you want to instruct us to return your savings, please access your account and complete the online process.
I LEAVE BEFORE THE END OF THE 3 YEARS BECAUSE OF REDUNDANCY, INJURY, DISABILITY, RETIREMENT WITH COMPANY CONSENT OR MY EMPLOYMENT IS TRANSFERRED TO ANOTHER COMPANY?You will be able to buy a reduced number of shares within 6 months of leaving using your savings so far. If you wish you can also close your account and have all your savings returned to you.
I LEAVE BEFORE THE END OF THE 3 YEARS DUE TO RESIGNATION OR NOT RETURNING AFTER MATERNITY LEAVE?You will not be able to buy any shares, and you will need to close your Sharesave account and have your savings returned to you. However, if you have le due to any reason except dismissal for misconduct, and your Op on has been held for 3 years or more from the Date of Grant, you will be en tled to buy shares within 6 months of your leaving date or the maturity date, whichever is sooner.
I DIE?If you die before your contract matures your personal representa ve(s) will be able to buy a reduced number of shares within 12 months of your death, or close your account. They will not be able to con nue saving. If you die within 6 months following your contract maturity, and have not yet exercised, then your personal representa ve(s) will be able to buy all the shares within 12 months of the maturity date.
CONTACT USIf you have any ques ons, please get in touch with our specialist team at Computershare.
0370 707 1045*[email protected]/microfocus
For further informa on on how this plan works for you, see the Sharesave microsite here *Calls will be charged at standard day me and evening rates plus network charges. Lines are open from 8.30am - 5.30pm Monday – Friday, excluding Bank Holidays.
