Plus500 Annual General Meeting

Plus500 has its annual general meeting

Plus500, the online trading company posted today that they will be having their 2019 Annual General Meeting on June 19th in London, England. This meeting is going to revolve around nine people and who will be re-elected as company executives or directors, the board members will have to decide who stays and who goes. This meeting happens every few years for Plus500 and often brings in fresh blood for the company.

Re-election concerns being brought up include:

  • Re-electing Penelope Judd, Charles Fairbairn, Daniel King and Steve Baldwin as independent non-executive directors.
  • Re-elect Gal Haber, AsafElimelech and Elad Even-Chen as the company directors.
  • Re-appoint Kesselman as the independent external auditor for 2019.

Additional Meeting Concerns

Re-electing employees isn’t the only concern for this meeting. Additionally, the shares of Plus500 will be spoken about extensively on June 19th. The company plans to issue upwards of 5 million plus ordinary shares to the public for purchase. This accounts for only 5% of the total shares for this online trading company.

Ordinary shares are being sold over treasury shares or equity shares. The reason for this is because the board doesn’t have any say over the treasure or equity shares of Plus500. The five million shares that are being sold off will be used only for financing and refinancing the company for the next six months. The board has stated openly that they are willing to issue out a total of 10% of the share capital at Plus500. This would account for 11.3 million shares being sold across the globe. Citizens of the world who want to buy one of these shares will only have to pay 105% of the total value of the share. The high percentage mark-up is because this is a bank stock, which never fails and tends always to become more profitable.

This information makes us believe that Plus500 has some new ideas in the works. This marks the first time in years that the company is selling off their shares. Stay tuned to find out precisely what this online banking company has in store for its clients and customers.

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