TIDMPLUS
RNS Number : 8150E
Plus500 Limited
01 November 2022
1 November 2022
Plus500 Ltd.
("Plus500", the "Company", or together with its subsidiaries,
the "Group")
Share Buyback Programme
Plus500, a 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 up to an additional $60.2 million of the Company's
shares (the "Share Buyback Programme"), as previously announced on
17 August 2022, as part of the Company's interim results for the
six month period ended 30 June 2022.
Launch of the Share Buyback Programme follows the completion of
the Company's most recent share buyback programmes announced on 15
February 2022 and 13 April 2022.
The purpose of the Share Buyback Programme is to highlight
further the Board's continued confidence in the future prospects of
Plus500 and reflects its strong financial position. 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.
The maximum number of shares that may be repurchased under the
Share Buyback Programme is 9,959,828 shares, being the number of
shares the Company is authorised to purchase pursuant to the
authority granted by shareholders at the Company's 2022 Annual
General Meeting ("AGM") 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 2022. Purchases
may continue during any closed period to which the Company is
subject during the above-mentioned period.
The Share Buyback Programme will be effected 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.
For further details
Plus500 Ltd.
Elad Even-Chen, Chief +972 4 8189503
Financial Officer +44 7825 189088
Rob Gurner, Head of ir@Plus500.com
Investor Relations
Brunswick +44 20 3128 8549
Charles Pretzlik, Partner Plus500@brun swickgroup.com
Paul Durman, Partner
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 and
Japan 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 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", "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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END
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(END) Dow Jones Newswires
November 01, 2022 03:01 ET (07:01 GMT)
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