Plus500, announced this Thursday it has purchased more than 20,000 shares through Credit Suisse Securities (Europe) Limited.
The London-listed but Israel-based broker, said the move was part of its ongoing share buyback program.
It bought 21,317 shares at a volume weighted average price paid per share of £1.176 today, the15th of April. This was according to to a filing through the London Stock Exchange news service. Therefore, the online trading provider has paid around £25,068.8 for the latest round of shares.
In particular, the document shows the lowest price paid per share for Plus500 was £1.166 and the highest price paid per share was £1.181.
The broker said the Company will hold the repurchased shares in treasury. Following the buying of these shares, the remaining number of ordinary shares in issue will be 106,870,635 excluding treasury shares.
The company will hold 8,017,742 ordinary shares in treasury, therefore, the total voting rights will be 106,870,635.
Plus500 Plans to Continue Its Repurchases
The online contracts for difference (CFD) trading provider said back in February that it plans to repurchase $30 million. As previously noted here, it’s part of its share buyback program.
The latest share buyback program will run from February 12, 2020, up until August 31 2020. However, the program might end earlier on the date of the announcement of Plus500 interim results for the six months ending June 30, 2020.
The broker continues to execute buybacks amid the coronavirus pandemic.
Since the program was announced, many of the company’s top executives have been purchasing the company’s shares. Reports say Alon Gonen, its Co-Founder, has purchased millions of pounds worth of the company’s stocks.
From March 20 until the 24th, Gonen bought approximately £4.63 million worth of the online CFD firm’s shares. This is in addition to the £4.17 million worth of shares he bought on March 2, 2020.