Plus500 Regulatory News (PLUS)

12 February 2020

Plus500 Ltd.

("Plus500" or "the Company")

Share Buyback Programme

Further to the announcement of its preliminary annual results earlier today, Plus500, a leading online service provider for trading Contracts for Difference ("CFDs") internationally, today announces a new proposed share buyback programme. 

Plus500's Board has approved a new programme to buy back up to an additional $30.0 million of the Company's shares, following the completion of the $50.0 million buyback programme announced on 13 August 2019 (the "August 2019 Programme"). 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 programme to repurchase the Company's shares on its behalf, and within certain parameters. The Company and its directors have no power to invoke any changes to the above programme and it will be conducted at the sole discretion of CS.

The share buyback programme will run from the date of this announcement to 31 August 2020 or, if earlier, the date of the announcement of the Company's interim results for the six months ending 30 June 2020 (subject to the renewal of the buyback authorization by the shareholders at the 2020 annual general meeting as set forth below). Purchases may continue during any closed period to which the Company is subject during the abovementioned period. Shareholders of the Company authorised the buyback of up to 11,333,676 shares at the Company's annual general meeting on 18 June 2019, of which 5,008,920 shares were purchased as of the date of this announcement under the completed August 2019 Programme. The current shareholder authorization 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 intends to seek shareholder authorisation at the Company's 2020 annual general meeting to renew the Company's share buyback authorisation for an additional year.

The share buyback programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU. 

For further details:

About Plus500

Plus500 operates an online trading platform for individual customers to trade CFDs internationally. The Group offers more than 2,800 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface) and web browsers). Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore and the Seychelles. Customer care is integral to Plus500: customers cannot be subject to negative balances. Plus500 does not utilise cold calling techniques and does not offer binary options. A free demo account is available on an unlimited basis for platform users, and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits and limit capital losses. Plus500 is listed on the main market of the London Stock Exchange, under the symbol PLUS. www.plus500.com