Plus500 Commences New Share Buyback Program

The retail broker repurchased 31,500 ordinary shares on the London Stock Exchange.

Plus500, a retail broker headquartered in Israel, announced via the London Stock Exchange news service this Thursday that it has purchased some of its ordinary shares, in accordance with the terms of its share buyback program announced on February 12, 2020.

On Wednesday, the retail broker announced that its Board had approved a new program in which the company will buy back up to an additional $30 million of the company’s ordinary shares. This follows the completion of the firm’s previous buyback program, in which it repurchased $50 million worth of shares.

In total, the retail trading firm purchased 31,500 ordinary shares on the London Stock Exchange this Thursday. Those transactions were carried out via Credit Suisse Securities.

The broker paid a high of 948.00 pence for some shares and a low of 913.00 pence for some others. On average, the broker spent 937.08 pence per share.

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Plus500 has more than 100 million remaining shares in issue

According to today’s statement from the broker, the remaining number of ordinary shares in issue will be 108,249,348 (excluding treasury shares), and the company will hold 6,639,029 ordinary shares in treasury. 

“Therefore, the total voting rights in Plus500 will be 108,249,348. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules,” the company said in the statement.

The latest share buyback program will run from the 12th of February 2020 up until the 31st of August this year. However, the program might end earlier on the date of the announcement of the Company’s interim results for the six months ending 30 June 2020.

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