Plus500 commences buying back its shares under new program
Online trading company Plus500 Ltd (LON:PLUS) has commenced buying back its shares under the new $55 million program announced on February 15, 2022.
On Tuesday, 15 February 2022, the company purchased 27,255 of its ordinary shares of ILS 0.01 each through Liberum Capital Limited.
The lowest price paid per share (GBp) is 1,387.00, whereas the highest price is 1,529.00. The volume weighted average price paid per share (GBp) is 1,456.59.
Plus500 will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 100,054,053 (excluding treasury shares), and the Company will hold 14,834,324 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 100,054,053.
The purpose of the new program is to further emphasise the Board’s confidence in the prospects of Plus500 and reflects the robust financial position of the Group, as highlighted by the Group’s operational and financial performance in FY 2021.
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 Liberum Capital Limited (“Liberum”) to manage this new program, which is an irrevocable, non‐discretionary share buyback program to repurchase the Company’s shares on its behalf, and within certain defined parameters.
The Company or the Board have no power to invoke any changes to the above program and it will be conducted at the sole discretion of Liberum within the program terms.
The share buyback program will run from February 15, 2022 to December 31, 2022.