Plus500 Spends Nearly £400K on 26,500 of Own Ordinary Shares

The announcements from Plus500 keep on coming, as the London listed broker continues to execute its latest share buyback program. The latest development revealed this Tuesday that the company repurchased more than 26,000 of its own ordinary shares.

In particular, Plus500 repurchased 26,500 of its own ordinary shares, each through Credit Suisse Securities (Europe) Limited, on Monday 14th September 2020.

According to the document published via the news service of the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (LSE) this Tuesday, the volume weighted average price paid per share by Plus500 was £14.93. Therefore, the Israel based broker spent around £395,735.10.

Across the 26,500 shares that were bought by Plus500, the lowest, price paid per share by the company, was about £14.80 and the highest, was £15.06.

“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 105,385,343 (excluding treasury shares), and the company will hold 9,503,034 ordinary shares in treasury,” Plus500 said in its statement filed through the LSE earlier today.

Plus500 Share Buyback Commenced in August

Plus500’s most recent share buyback program started on 11th August 2020. In its latest round, the trading company is planning on repurchasing $67.3 million worth of its own shares. It will run from 11th August 2020 up until 28th February 2021. It is possible for the broker to end the program earlier on the date of the announcement of its preliminary results for the year ended 31st December 2020.

In its prior share buyback program, before the one announced earlier this year in August, the contracts for difference (CFD) trading provider repurchased $38.9 million worth of its own ordinary shares. The program concluded during the first half of 2020.