Last checked at 6 Sep 2018 13:59
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Plus500 Limited
("Plus500" or "the Company")
Sale of c.9.4 million Existing Ordinary Shares in Plus500
Plus500, a leading online trading platform provider for retail customers to trade CFDs internationally, announces that the founders of the Company, Alon Gonen1, Gal Haber2, Elad Ben-Izhak3, Omer Elazari and Shlomi Weizmann (the "Founders") have notified Plus500 that, in response to significant demand from a small number of institutional investors, they intend to sell today c. 9.4 million existing ordinary shares (the "Sale Shares") in the capital of the Company at a price of £15.50 per Sale Share. The Sale Shares represent c. 8% of the Company's issued share capital and is expected to raise gross proceeds of c. £145 million for the Founders.
Any Sale Shares will be sold through Liberum Capital Limited ("Liberum") to a limited number of investors. Plus500 is not a party to the transaction and will not receive any proceeds from the sale of the Sale Shares.
After completion of the transaction, the Founders will continue to hold in aggregate approximately 8% of the issued share capital of the Company. The Founders intention to sell reflects their desire to diversify their investments whilst raising funds for personal reasons.
The Founders have agreed not to sell any further ordinary shares they hold in the capital of the Company for a period of 90 days after completion of the transaction, subject to waiver by Liberum at its sole discretion.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").
(1) The shares are registered in the name of Sparta24 Ltd.
(2) The shares are registered in the name of Wavesoft Ltd.
(3) The shares are registered in the name of Smarty Ltd.
For further details:
Plus500 Ltd
Elad Even-Chen, Chief Financial Officer
ir@Plus500.com
Tel: +972-4-8189503
Liberum
Clayton Bush, Christopher Britton, Josh Hughes, William Hall
www.liberum.com
Tel: 020 3100 2222
MHP Communications
Reg Hoare, Tim Rowntree, Kelsey Traynor
plus500@mhpc.com
Tel: 020 3128 8100