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Plus500 Limited  -  PLUS   

Share Buyback Programme

Released 07:00 02-Jun-2017

RNS Number : 9362G
Plus500 Limited
02 June 2017

2 June 2017


Plus500 Ltd.


("Plus500" or "the Company")


Share Buyback Programme


Plus500, a leading online service provider for retail customers to trade CFDs internationally, today announces a proposed share buyback programme. 


Plus500's Board has approved a programme to buy back up to $10 million of the Company's shares.   The Board reaffirms its base 60% pay-out ratio dividend policy, reflecting the strength of Plus500's business model in its ability to convert net earnings into cash-flow. The Board also retains flexibility to pay special dividends or buy back shares when the Company generates surplus cash, as appropriate.

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 an irrevocable, non-discretionary share buy-back programme to repurchase on its behalf, and within certain parameters. The Company and its directors have no power to invoke any changes to the above programme and they will be conducted at the sole discretion of Liberum.

The buyback programme will run from the date of this announcement to 31 August 2017. Purchases may continue during any closed period to which the Company is subject during this period. The maximum number of shares that may be acquired pursuant to the buy-back programme is 11,488,837, which, in line with UK market practice, represents 10% of the Company's issued share capital. 


The buyback programme will be funded from the Company's current net cash balances which stood at approximately $191 million as at 31 May 2017. This includes a total of $75.0m due to be paid out in dividends (final and special) on 3 July 2017.


The buy-back programme, the purpose of which is to reduce the capital of the Company, will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU. 


Asaf Elimelech commenting on the share buyback said:


"We are pleased to announce the start of a share buyback programme, which will be funded from our significant cash resources. Together with the substantial dividend payments due to be paid in July, our cash generative business model is enabling us to provide good shareholder returns despite current regulatory uncertainties."




Elad Even-Chen, Chief Financial Officer

+972 4 8189503

Liberum - Nomad and Broker  

Clayton Bush, Neil Elliot, Josh Hughes

+44 20 3100 2222

Berenberg (Joint Broker)

Chris Bowman, Amritha Murali, Marie Stolberg

+44 20 3207 7800

MHP Communications    

Reg Hoare, Tim Rowntree, Kelsey Traynor

+44 20 3128 8100


 Notes to Editors

Plus500 operates an online trading platform for retail customers to trade CFDs internationally over more than 2,100 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange. Retail customers of Plus500 can trade CFDs in more than 50 countries and in 31 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers.

Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand and South Africa.  Customer care is integral to Plus500: customers cannot lose more than they deposit and there are no commissions on trades. Plus500 offers its customers sophisticated risk management tools to manage their trading positions and a free demo account is available on an unlimited basis for platform users. 

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Share Buyback Programme - RNS