REG - Plus500 Ltd - Transaction in Own Shares

Plus500Announcement

13/06/2023 08:15

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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 £101.3 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 Financial Officer  +972 4 8189503

                                          ir@Plus500.com (mailto:ir@Plus500.com)
 Dentons Global Advisors
 James Melville-Ross                      +44 (0)20 7664 5095

 James Styles                             plus500@dentonsglobaladvisors.com (mailto: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
(http://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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