Plus500 continues with share buyback

Maria Nikolova

The CFD brokerage buys 20,000 of its own shares in line with the terms of the share buyback program announced on October 23, 2018.

Online trading services provider Plus500 Ltd (LON:PLUS) presses ahead with its stock buyback plan, with an RNS announcement made today revealing that the company acquired more of its own shares.

As per today’s report, Plus500 purchased 20,000 of its ordinary shares of ILS 0.01 each through Liberum Capital Limited. The transactions, which took place on June 17, 2019, are in line with the terms of the share buyback program announced on October 23, 2018.

Source: Plus500 RNS.

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 113,289,768 (excluding treasury shares), and the company will hold 1,598,609 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 113,289,768.

Last week, Plus500 announced the repurchase of 10,000 of its own shares in a series of transactions that occurred on June 12, 2019, and a further purchase of 17,000 shares on June 13, 2019.

Back in October 2018, when Plus500 provided a Q3 trading update, the company said its Board had approved a program to buy back an initial amount of up to $10 million of the company’s shares in accordance with the authority granted at the company’s AGM. With effect from October 23, 2018, the company has appointed Liberum Capital Limited to manage an irrevocable, non-discretionary share buy-back program to repurchase on its behalf, and within certain parameters.

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