TIDMPLUS
RNS Number : 4276J
Plus500 Limited
16 August 2023
16 August 2023
Plus500 Ltd.
("Plus500", the "Company", or together with its subsidiaries,
the "Group")
Share Buyback Programme
Plus500, an established global multi--asset fintech group
operating proprietary technology--based trading platforms, is
pleased to announce that it will today commence a new share buyback
programme to purchase a total of up to $60.0 million of the
Company's shares ("Share Buyback Programme"). It is anticipated
that the new $60.0 million buyback programme will commence
immediately once the existing $70.0 million buyback programme is
complete.
The purpose of this Share Buyback Programme is to further
highlight the Board's continued confidence in the future prospects
of Plus500, reflecting the Group's robust financial position and
ability to deliver strong future shareholder returns. This
confidence is supported by the significant operational and
financial momentum achieved by Plus500 over recent years, as the
Group continues to make further progress on its strategic
roadmap.
Plus500's disciplined approach to capital allocation and cash
generative business model enables it to invest in growth, both
organically and through strategic bolt on acquisitions, maintain a
clear dividend policy and return value to shareholders in the form
of share repurchases where appropriate.
The maximum number of shares that may be repurchased under the
Share Buyback Programme is up to 8,032,980 shares, being the number
of shares the Company is authorised to purchase pursuant to the
authority granted by shareholders at the Company's Extraordinary
General Meeting held on 24 July 2023 ("EGM") less the number of
shares that have already been repurchased pursuant to that
authority.
Share purchases will take place in open market transactions and
may be made from time to time depending on market conditions, share
price, trading volume and other factors. Liberum Capital Limited
("Liberum") will manage the Share Buyback Programme, which is an
irrevocable, non--discretionary share buyback programme to
repurchase the Company's shares on its behalf, and within certain
defined parameters. The Company and its Board members have no power
to invoke any changes to the Share Buyback Programme and it will be
conducted at the sole discretion of Liberum within the Programme
terms.
All ordinary shares repurchased by the Company under the Share
Buyback Programme shall be classified as shares held in treasury
(dormant shares). Such treasury shares are not entitled to
dividends and have no voting rights at the Company's general
meetings.
The Share Buyback Programme will run from the date of this
announcement until the announcement of the Company's preliminary
results for the twelve months ending 31 December 2023. Purchases
may continue during any closed period to which the Company is
subject during the above--mentioned period.
The Share Buyback Programme will be affected within the
parameters of Article 5(1) of the Market Abuse Regulation (EU) No
596/2014 (which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018 (the "2018 Act")) ("MAR") and the Commission
Delegated Regulation (EU) No 2016/1052 (which is part of UK law by
virtue of the 2018 Act) as well as the applicable laws and
regulations of the UK Financial Conduct Authority.
Details of any and all purchases made under the Programme will
be announced no later than 7.00am on the business day following the
calendar day on which the purchase occurred.
For further details
Plus500 Ltd.
Elad Even-Chen, Chief Financial +972 4 8189503
Officer +44 (0) 7551 654208
Owen Jones, Head of Investor ir@Plus500.com
Relations
Dentons Global Advisors
James Melville-Ross +44 (0)20 7664 5095
James Styles plus500@dentonsglobaladvisors.com
Leah Dudley
About Plus500
Plus500 is an established 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'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.
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", "projects", "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.
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 or visit 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.
END
POSKZGMRLKLGFZM
(END) Dow Jones Newswires
August 16, 2023 02:01 ET (06:01 GMT)
Plus500 (AQSE:PLUS.GB)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Plus500 (AQSE:PLUS.GB)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
