Details regarding the last purchase for Plus500 with their Share Buyback Program until the coronavirus pandemic is defeated provided on March 17th. It was confirmed that the company purchases 60+ thousand ordinary shares through the program, which enables this Israel-established brokerage to re-acquire a large percentage of their ordinary shares. It should be noted that these shares were purchased on March 16th, with regulation documents being provided to the London Stock Exchange.
Financial details regarding the associated cost to purchase these shares back was provided. Each respective share cost £7.57, meaning that £496,592.00 was spent in this significant round. Their associated cost falls in between the medium for their standardized values, with the lowest price paid in their Share Buyback Program being £7.13 per share. The highest valuation was £8.00 per share.
Appointed representatives with Plus500 provided additional details regarding. Their statement read: “The company will hold the repurchased shares in treasury. Following the purchase of these shares, the remaining number of ordinary shares in issue will be 107,303,454. This excludes treasury shares, and the company will hold 7,584,923 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 107,303,454.”
Plus500 Repurchasing $30 Million in Shares
The Plus500 Share Buyback Program began in February 2020, with the conditional factors allowing for this corporate exchange to purchase £30 million in returned stock assets. This follows after the original buyback program commenced in August 2019, which allowed for Plus500 to re-acquire $50 million in shares. It should be mentioned that investors in the cryptocurrency industry are still being provided with the opportunity to purchase their respective shares.
Alon Gonen has purchased 445+ thousand shares on behalf of Plus500, with more than £4 million being spent to support this acquisition. Additional Co-Founders have bought large quantities of shares on behalf of Plus500. It’s suspected that after the second Share Buyback Program, Plus500 won’t be required to implement a third round. They’ll hold the overwhelming majority of shares over their initial investors.
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