As Plus500 continues to repurchase its ordinary shares, as part of its share buyback program, the online contracts for difference (CFD) trading provider has revealed this Monday that its Chief Technology Officer (CTO) has purchased more than three thousand of the company’s shares.
In particular, Ari Shotland, the CTO of Plus500, purchased some of the company’s ordinary shares in two rounds – the first on the 19th of March, and the second on the following day, the 20th of March, a regulatory filing shows.
On Thursday, Shotland purchased 136 shares at an average price of £7.37, which translates to a total price of £1,002.3. On Friday, he then went on to purchase 3,318 more shares at an average price of £7.866, bringing his total for the day up to £26,099.4.
Therefore, over the two days last week, Shotland bought 3,454 shares at a total price of around £27,101.7. All of the transactions took place on the London Stock Exchange (LSE).
Did COVID-19 Save the Forex Industry?Go to article >>
Plus500 to buy $30 million shares
Since the company announced its share buyback program, which commenced in February, Plus500 and a number of its top executives, have been purchasing the company’s shares.
Overall, 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.
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.
Alongside the CEO, Omer Elazari has purchased more than £1.12 million worth of shares in the past few weeks, and Shlomi Weizmann purchased 100,000 shares, worth approximately £941,500.