Plus500, a provider of contracts for differences (CFDs) trading, has published the latest information regarding its share buyback program this Tuesday, with the company purchasing more than 60,000 of its ordinary shares.
In particular, the Israel-based broker announced today that it had purchased 65,600 of its ordinary shares. The shares were bought on the 16th of March 2020, a regulatory document filed through the London Stock Exchange’s news service shows.
The volume-weighted average price paid per share was 757.41 pence (£7.57). Therefore, altogether, Plus500 spent around £496,592 in the latest round. The lowest price paid per share was 713.60 pence, and the highest price paid per share was 800.0 pence.
“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 107,303,454 (excluding treasury shares), and the company will hold 7,584,923 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 107,303,454,” Plus500 said in today’s statement.
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Plus500 to repurchase $30 million of shares
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.
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 couple of weeks, and Shlomi Weizmann purchased 100,000 shares, worth approximately £941,500.