Tech firm hands out a £24m bonus

THE boss of Britain’s biggest tech firm is to become the best-paid FTSE 100 executive thanks to a £24m bonus.

Kevin Loosemore, executive chairman of Micro Focus, is set to pocket the cash as part of a reward scheme set up in 2014.

It will see four executives at the company handed shares worth £60m for meeting performance targets set when they snapped up software firm Attachmate for £900m.

The payout comes after it emerged that Loosemore, 58, and other bosses at the company were in line for a share of £270m providing they increase Micro Focus’s share price over the next two years – which has already rocketed more than 350pc under Loosemore leadership. That deal was agreed after the takeover of Hewlett Packard Enterprise’s software business last month, and could see Loosemore collect another £37.4m.