As part of its latest share buyback program, Plus500 has purchased a further 23,000 of its own ordinary shares, alongside the broker’s Cypriot Chief Executive Officer (CEO), Ofir Chudin.
According to two filings published through the news service of the London Stock Exchange (LSE), Plus500 has purchased 23,000 of its ordinary shares on the 29th of April, 2020, at an average volume-weighted price of £12.86. Therefore, the Israel based broker spent around £295,780 for the latest batch of shares.
“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 106,660,778 (excluding treasury shares), and the company will hold 8,227,599 ordinary shares in treasury. Therefore, the total voting rights in Plus500 will be 106,660,778,” the company said in the regulatory filing.
In addition to the broker repurchasing some of its shares, Chudin, the CEO of Plus500CY Ltd also purchased 1,917 of the company shares on the 29th of April in a single purchase, at a price of £12.80 per share. Therefore, he spent £24,537.60.
Plus500 continues momentum into Q2 2020
Although coronavirus might be causing a lot of other industries, and the world in general, to slow down, it appears to be full steam ahead at Plus500. In a trading update published by the broker on Tuesday, the firm revealed that it continues to see a significantly increased level of customer trading activity.
“Performance across all financial and operational KPIs remains very strong, with the Group continuing to attract significant numbers of new customers at an attractive cost, and increased levels of activity from existing customers,” the company said today in the statement.
Furthermore, the Israel based broker said that following the strong performance achieved in the first quarter of 2020, it is seeing continuing momentum in the second quarter, with strong gains from customer trading performance, which is expected to be neutral over time.
