Plus500 Repurchased 33,000 Shares Under Share Buyback Program


Plus500 announced that it had repurchased 33,000 of its own ordinary shares through Credit Suisse Securities (Europe) Limited.

21 August 2020 | AtoZ MarketsPlus500 is a CFD broker based in Israel. Founded in 2008, it has earned quite a reputation in the industry. It offers trading services for financial instruments such as currency pairs, cryptocurrencies, gold, silver, stocks, commodities, options, and indices. It is listed on the FTSE250, FTSE All-Share, FTSE350, FTSE350 High Yield Index.

Plus500 Continues Its Share Buyback Program

Earlier this month, the broker announced its plans to buy back $67.3 million worth of its own shares. The program will run from August 11, 2020, to February 28, 2021. As part of its latest program, Plus500 announced that it acquired 33,000 of its own ordinary shares through Credit Suisse Securities (Europe) Limited on August 20, 2020.

The price paid per share is within the range from £14.4400 to £14.9450. The volume-weighted average price paid per share was £14.7663. So, the broker spent about £487,287.90 on the latest batch of the share buyback program. Plus500 said “it will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 105,9 11,043 (excluding treasury shares), and the broker will hold 8,977,334 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 105,9 11,043.”

“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 broker under the FCA’s Disclosure Guidance and Transparency Rules,” the broker also added.

On August 11,18 and 19, the broker purchased 4,119, 5,313, and 25,700 of its ordinary shares. In H1 2020, the broker made a $38.9 million share buyback. It said it would continue its shareholder return policy by distributing 60% of its net profit in H1 2020 to shareholders through dividends and share buybacks.

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