CMC Markets issues 1.6m shares under Management Equity Plan
These shares will rank pari passu with the existing issued ordinary shares of the Group.
Online trading services provider CMC Markets Plc (LON:CMCX) today announces that it has issued 1,600,000 new ordinary shares of 25p each to satisfy vesting of awards under the Group’s Management Equity Plan 2015.
Application has been made for the 1,600,000 new ordinary shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities.
It is expected that trading will commence on September 16, 2020. These shares will rank pari passu with the existing issued ordinary shares of the Group.
At admission the issued ordinary share capital of the Group will consist of 290,717,473 shares. The total number of voting rights in the Group will therefore be 290,717,473.
According to the latest trading update by CMC Markets (covering the period from July 1, 2020 to August 31, 2020), the Group’s strong trading performance across the business has continued, with net operating income run rate for the two month period only slightly below Q1 2021, and client income has continued to be in excess of the same period in the prior year. In addition, client income retention has remained particularly strong and well in excess of the guidance of above 80%. The stockbroking business also continues to perform strongly.
As a result, the Board is confident that FY 2021 net operating income will exceed the upper end of current market consensus.