REG - Plus500 Ltd - Update in relation to 2023 Annual General Meeting

Plus500Announcement

02/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231102:nRSB0302Sa&default-theme=true

RNS Number : 0302S  Plus500 Limited  02 November 2023

2 November 2023
 
 

Plus500 Ltd.

("Plus500", the "Company" or together with its subsidiaries the "Group")

Update in relation to 2023 Annual General Meeting

Plus500, an established global multi-asset fintech group operating proprietary
technology-based trading platforms, today issues an update on the views
received from shareholders and the actions taken following the voting outcomes
at its Annual General Meeting ("AGM") held on 2 May 2023, in accordance with
Provision 4 of the UK Corporate Governance Code (the "Code").

At the 2023 AGM, four resolutions were passed with more than 20% of votes cast
against. The resolutions related to the re-election of Mr. Steve Baldwin as
Non-Executive Director, an allotment of shares to the Chair of the Board, the
approval of the remuneration policy for Directors and Executives and the
remuneration terms for the CEO. A non-binding advisory vote on the Directors'
Remuneration Report was not approved by the requisite majority. All other 17
resolutions were well supported by shareholders, with at least 80% of votes
cast in favour.

Since the AGM, in line with the Company's commitment to maintaining ongoing,
transparent dialogue with its shareholders, the Company has engaged with
various shareholder advisory bodies and its top shareholders, in order to
gather their feedback on these resolutions.

In relation to resolution 3, 29.68% of votes cast were against the re-election
of Mr. Steve Baldwin as a Non-Executive Director. The Company understands that
the reason for this relates in part to his position as the Chair of the
Company's ESG Committee. Plus500 is dedicated to operating responsibly and
sustainably in all aspects of its business, including taking the necessary
actions to reduce the relatively minimal impact of its operations on the
environment. As detailed in its 2022 Annual Report, the Company has extended
significantly the level of disclosure provided around its environmental
footprint, which now also includes a comprehensive report on Plus500's
alignment to the Task Force on Climate-Related Financial Disclosures ("TCFD"),
and is continuing to monitor this area on an ongoing basis. Therefore, the
Board reaffirms its belief that Mr. Baldwin remains highly suitable in his
position as a Non-Executive Director and as Chair of the ESG Committee.

The other three resolutions which were passed with more than 20% of votes cast
against, relate to remuneration.

The Board values the feedback and insights received as part of this process
and believes it has a good understanding of the reasons behind the votes cast,
having engaged with shareholders and further explained the Board's position in
this regard. The Board will continue to take shareholders' views into
consideration as part of its approach to achieving high governance standards
and delivering shareholder value.

In accordance with provision 4 of the Code, a final update on this matter will
be included in the Company's 2023 Annual Report.

 

For further details

 Plus500 Ltd.
 Elad Even-Chen, Chief Financial Officer  +972 4 8189503

 Owen Jones, Head of Investor Relations   +44 (0) 7551 654208

                                          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)

 Methuselah Tanyanyiwa

 

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, the UAE and the Bahamas 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) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUARKROAUARRA