PLUS.GB Plus500 Ltd

TIDMPLUS

RNS Number : 9841X

Plus500 Limited

02 May 2023

2 May 2023

Plus500 Ltd.

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

Annual General Meeting

Plus500, a global multi--asset fintech group operating proprietary technology--based trading platforms, issues the following statement ahead of today's Annual General Meeting, which will take place in London at 10.00am BST.

The Group has continued to deliver a strong performance in FY 2023. As outlined in the Q1 2023 Trading Update issued on 19 April 2023, key metrics were ahead of Q4 2022. This performance has continued to be driven by the Group's on-going investments in product innovation to attract and retain high value customers. In addition, the Group has made further significant progress against its strategic priorities.

Since the 2022 AGM held on 3 May 2022, the Company has bought back shares totalling approximately $17 5 . 4 m, at an average price of GBP17.23. The buyback programmes reflect the Board's view of the current value of the Company's shares and further demonstrates the Group's strong financial position.

The Board remains confident about the Group's prospects and its ability to execute against several market opportunities whilst continuing to make on-going investments to develop Plus500's position as a global multi-asset fintech group. In particular, the Group is focused on delivering further organic investments in technology, marketing and people, as well as actively targeting additional acquisitions, in order to deliver sustainable growth over the medium to long term . The Board continues to expect that Plus500's performance will be in line with current market expectations(1) .

The Company will publish its half year results for the six months ended 30 June 2023 on 14 August 2023.

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 .

[1] Market expectations based on compiled analysts' consensus forecasts, which can be found on the Investor Relations section of the Company's website.

Forward looking statements

This announcement contains statements that are or may be forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Group's future prospects, developments and strategies. The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication. Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "project", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the Risk Management Framework section of the Company's most recent Annual Report. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as at the date of this announcement. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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AGMSSLFUFEDSELI

(END) Dow Jones Newswires

May 02, 2023 02:00 ET (06:00 GMT)

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