(Adds details on pay policy, background)
Sept 26 (Reuters) - Britain's Micro Focus International
is planning to make changes to its proposed pay policy,
the software firm said on Thursday, after half its shareholders
voted against it earlier this year.
The company said shareholders had raised concerns over
issues including the structure of incentive arrangements,
leading it to review the scheme.
Micro Focus, which has struggled to integrate $8.8 billion
of assets bought from Hewlett-Packard in 2017, last month said
it will miss its full-year revenue target, prompting an
accelerated operations review.
Shareholders also raised concerns over changes made last
year to additional share grant awards made after the HP
acquisition and over an additional long-term incentive plan
award made to the finance chief as part of his recruitment
package.
Micro Focus has grown by acquiring legacy technology such as
mainframe computer software used by banks, retailers and
airlines, driving shareholder returns with a ruthless focus on
its bottom line.
A new remuneration policy, which will be developed alongside
the strategic review, will be put to shareholders at the
company's 2020 annual general meeting.
(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Jan
Harvey and Alexandra Hudson)
