Plus500 announces program to buy back up to additional $67.3m of its shares

Maria Nikolova

The share buyback program is set to run from today to February 28, 2021.

Online trading company Plus500 Ltd (LON:PLUS) today announced a new proposed share buyback program.

Plus500’s Board has approved a new program to buy back up to an additional $67.3 million of the company’s shares. Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. The Company has appointed Credit Suisse Securities (Europe) Limited (“CS”) to manage an irrevocable, non-discretionary share buyback program to repurchase the company’s shares on its behalf, and within certain parameters.

The share buyback program will run from today to February 28, 2021 or, if earlier, the date of the announcement of Plus500’s preliminary results for the year ended 31 December 2020. Purchases may continue during any closed period to which the company is subject during the above-mentioned period.

The current shareholder authorisation extends until the company’s 2020 annual general meeting or, if earlier, at the close of business on 18 September 2020, unless such authority is renewed prior to this time.

Plus500’s Board is seeking shareholder authorisation at Plus500’s 2020 annual general meeting scheduled for September 16, 2020 to renew the company’s share buyback authorisation for an additional year.

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