World multi‐asset fintech group Plus500 Ltd (LON:PLUS) pronounces that it’s going to at this time start a brand new share buyback programme to buy a complete of as much as $60.0 million of the corporate’s shares.
It’s anticipated that the brand new $60.0 million buyback programme will start instantly as soon as the prevailing $70.0 million buyback programme is full.
The aim of this Share Buyback Programme is to additional spotlight the Board’s continued confidence sooner or later prospects of Plus500.
The utmost variety of shares that could be repurchased beneath the Share Buyback Programme is as much as 8,032,980 shares, being the variety of shares the corporate is authorised to buy pursuant to the authority granted by shareholders on the Firm’s Extraordinary Normal Assembly held on 24 July 2023 much less the variety of shares which have already been repurchased pursuant to that authority.
Share purchases will happen in open market transactions and could also be made once in a while relying on market situations, share value, buying and selling quantity and different elements. Liberum Capital Restricted will handle the Share Buyback Programme, which is an irrevocable, non‐discretionary share buyback programme to repurchase the Firm’s shares on its behalf, and inside sure outlined parameters.
The Share Buyback Programme will run from at this time till the announcement of the corporate’s preliminary outcomes for the twelve months ending 31 December 2023. Purchases might proceed throughout any closed interval to which the corporate is topic in the course of the above‐talked about interval.