Plus500 purchases more shares under share buyback program

Maria Nikolova

On January 6, 2020, the company bought back 57,000 shares at an average price of GBp 854.78 per share.

Online trading company Plus500 Ltd (LON:PLUS) has earlier today announced that, in accordance with the terms of its share buyback program, the company purchased 57,000 of its ordinary shares of ILS 0.01 each through Credit Suisse Securities (Europe) Limited.

On January 6, 2020, the company bought back 57,000 shares at an average price of GBp 854.78 per share, the highest price being 916.00, and the lowest price being 805.60.

Plus500 will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 108,973,702 (excluding treasury shares), and the company will hold 5,914,675 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 108,973,702.

When Plus500 reported its metrics for the third quarter of 2019, it provided an update on the progress of the share buyback program. Back in October, the brokerage said it repurchased 1,639,246 shares in the third quarter for a total consideration of $14.7 million as part of its $50 million share buyback program that started on August 20, 2019.

Regarding Plus500’s performance, let’s note that, on January 6, 2020, the brokerage forecast revenue and EBITDA for FY19 of approximately $354 million and approximately $190 million, respectively. The Board noted the improvement in performance in the second half of the year compared to the first half.

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