CMC Markets Issues 1.6 Million New Ordinary Shares for Trading

The company expects the shares to be available for trading on the 16th of September 2020.

CMC Markets plc (LSE: CMCX) announced this Monday via a regulatory filing that it has issued 1.6 million new ordinary shares which will be made available for trading on the London Stock Exchange’s (LSE) main market for listed securities.

According to the document published via the LSE’s news service, the online trading provider has issued new ordinary shares to satisfy vesting of awards under the Group’s Management Equity Plan 2015. 

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The new ordinary shares are 25p each and will be admitted to the Official List of the UK Listing Authority. The UK-based trading provider expects that trading in the new batch of shares will commence on Wednesday, 16th September 2020.

The new 1.6 million ordinary shares will rank ‘pari passu’, or side by side the existing issued ordinary shares of the Group. At admission, the issued ordinary share capital of the Group will consist of 290,717,473 shares, the company said today.

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“The total number of voting rights in the Group will therefore be 290,717,473. This figure may be used by shareholders as the denominator to determine if they are required to notify their interests in, or a change to their interest in, the Group under the Disclosure and Transparency Rules,” CMC Markets outlined in its statement.

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The issue of the new shares comes less than two weeks after CMC Markets announced that it will be included on the FTSE 250, an index that measures the largest companies on the London Stock Exchange. 

The announcement came on the same day the online trading provider published its trading update. Despite volatility driven by COVID-19 lessening, CMC Markets said that it continued to see a strong trading performance from 1st July 2020 until 31st August.

As Finance Magnates reported, the net operating income run rate for the two month period was slightly below the first quarter of its 2021 fiscal year. Furthermore, client income has continued to be in excess of the same period in the prior year.

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