Plus500 Limited Transaction in Own Shares (5302C)
June 13 2023 - 3:01AM
UK Regulatory
TIDMPLUS
RNS Number : 5302C
Plus500 Limited
13 June 2023
13 June 2023
Plus500 Ltd.
("Plus500" or "the Company")
Transaction in Own Shares
Plus500, a global multi-asset fintech group operating
proprietary technology-based trading platforms, announces that it
has purchased 7,327,605 ordinary shares of ILS 0.01 each in the
Company ("Ordinary Shares") from Odey Asset Management LLP (the
"Purchase"), representing approximately 8.2% of the Company's
issued share capital (excluding shares already held in treasury),
at a price of 1,383 pence per Ordinary Share, for a total
consideration of approximately GBP101.3 million. The acquired
shares will be held in treasury.
Given the significant strength of the Company's balance sheet
and the prevailing circumstances, the Board believes the Purchase
is in the best interest of all shareholders. The Company has acted
quickly to execute this opportunity to acquire shares at an
attractive price, in-line with the Company's capital allocation and
shareholder return policy. As announced on 19 April 2023, the
Company had cash balances of over $950 million as at 31 March
2023.
The Purchase has been conducted separately from the Company's
latest share buyback programme to purchase up to $70.0 million of
the Company's Ordinary Shares, announced on 14 February 2023 (the
"Share Buyback Programme"), which will continue as planned. As at
12 June 2023, the Company had repurchased approximately $52 million
of the Company's Ordinary Shares pursuant to the Share Buyback
Programme.
Following the Purchase, the Company has authority to make
further purchases of up to 683,244 Ordinary Shares pursuant to the
authority granted to it at the Company's 2023 AGM, held on 2 May
2023.
Total Voting Rights
The Company will hold the repurchased shares in treasury.
Following the Purchase, the remaining number of Ordinary Shares in
issue will be 82,512,335 (excluding treasury shares), and the
Company will hold 32,376,042 Ordinary Shares in treasury.
Therefore, the total voting rights in Plus500 will be 82,512,335.
This figure for the total number of voting rights may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further details
Plus500 Ltd.
Elad Even-Chen, Chief +972 4 8189503
Financial Officer ir@Plus500.com
Dentons Global Advisors
James Melville-Ross +44 (0)20 7664 5095
James Styles plus500@dentonsglobaladvisors.com
Leah Dudley
About Plus500
Plus500 is a global multi-asset fintech group operating
proprietary technology-based trading platforms. Plus500 offers
customers a range of trading products, including OTC
("Over-the-Counter" products, namely Contracts for Difference
(CFDs)), share dealing, as well as futures and options on futures.
The Group retains operating licences and is regulated in the United
Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa,
Singapore, the Seychelles, the United States, Estonia, Japan and
the UAE and through its OTC product portfolio, offers more than
2,500 different underlying global financial instruments, comprising
equities, indices, commodities, options, ETFs, foreign exchange and
cryptocurrencies. Customers of the Group can trade its OTC products
in more than 50 countries and in 30 languages. Plus500 does not
permit customers located in the US to trade its OTC products.
Plus500 does not utilise cold calling techniques and does not offer
binary options. Plus500's trading platforms are accessible from
multiple operating systems (Windows, iOS and Android) and web
browsers. Customer care is and has always been integral to Plus500,
as such, OTC customers cannot be subject to negative balances. A
free demo account is available on an unlimited basis for OTC
trading platform users and sophisticated risk management tools are
provided free of charge to manage leveraged exposure and stop
losses to help customers protect profits, while limiting capital
losses. Plus500 shares have a premium listing on the Main Market of
the London Stock
Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. www.plus500.com .
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation ("MAR"). Upon the publication of this
announcement via Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public
domain.
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END
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