Plus500 Continues Share Buyback, Purchases 42,500 Shares

The broker purchased the shares at a volume-weighted average price of 940.64 pence (£9.41).

As Plus500 continues to execute its share buyback program, the online trading provider announced this Tuesday that it purchased 42,500 of the Company’s ordinary shares on the 9th of March, 2019.

In particular, on the 9th of March, Plus500 purchased a total of 42,500 shares at a volume-weighted average price of 940.64 pence (£9.41), the regulatory filing shows. This, therefore, translates to a total cost of approximately £399,925.

The lowest price paid per share was 922.20 pence (£9.22), and the highest price paid per share was 962.60 pence (£96.26). The shares were purchased through Credit Suisse Securities (Europe) Limited.

“The Company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 107,576,654 (excluding treasury shares), and the Company will hold 7,311,723 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 107,576,654,” the company said in the filing published via the London Stock Exchange’s news service. 

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As part of its share buyback program, which commenced in February, the Company will buy back up to an additional $30 million of the Company’s ordinary shares. This follows on from the completion of the firm’s previous buyback program in August of 2019, in which it repurchased $50 million worth of shares.

More Co-Founders of Plus500 buy shares

As part of the most recent share buyback program, a number of the broker’s Co-Founders and its Chief Executive Officer (CEO) have been buying more shares in the Company. As Finance Magnates reported, Alon Gonen has purchased 445,064 shares valued at £9.38, meaning he has spent more than £4.17 million. The founder of Plus500 has acquired the shares via Sparta 24 Ltd, in a transaction dated the 2nd of March, 2020.

Today, the online trading provider has also revealed that Omer Elazari has purchased an additional 50,000, and Shlomi Weizmann has purchased 100,000 shares, worth approximately £470,000 and £941,500 each, respectively.

Only yesterday, Omer Elazari, the Co-Founder and Vice President of Engineering at Plus500, bought £659,890 worth of the Company’s ordinary shares on the 8th of March, with the most recent shares having been bought on the 6th of March.

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