Directorate Change

RNS Number : 2084F

Plus500 Limited

18 March 2022

 

18 March 2022

Plus500 Ltd.

("Plus500", the "Company" or together with its subsidiaries the "Group")  

Directorate Changes

Plus500, a global multi-asset fintech group operating proprietary technology-based trading platforms, today announces several changes to the composition of its Board of Directors (the "Board").

Appointment of Prof. Varda Liberman as an Independent Non‐Executive Director

Prof. Varda Liberman will be joining the Board as a Non‐Executive Director with immediate effect. She is being appointed to the Audit Committee and Regulatory and Risk Committee of the Board.

Prof. Liberman is an international renowned expert in the field of decision-making and behavioural economics. In this capacity, she provides co nsulting and workshops in key elements of managerial decision-making and risk management to senior managements of organisations across a range of sectors, including healthcare, banking, investment, technology, the judicial system and the Israeli Defence Forces.

Prof. Liberman is the Rector of Reichman University, (IDC Herzliya) in Israel, and one of its founders and leaders.  She is a professor at the business school, a visiting researcher at Stanford University, and the author of several books and many scientific articles. Over the years, she has held a variety of managerial positions at the university, among them, heading the mathematics and statistics studies, leading the decision-making area in the business school, and founding and heading the MBA programme in Healthcare Innovation.

Prof. Liberman holds a B.Sc. in Mathematics and Statistics, an M.Sc. in Mathematics and a Ph.D. in Mathematics, all from Tel Aviv University.

Prof. Liberman also serves as an External Director at Cellcom Israel Ltd., having previously served as director on several publicly traded corporate boards based in Israel, including Tamir Fishman Trust Funds Ltd .

There is no further information required to be disclosed pursuant to LR 9.6.13 of the Listing Rules.

Daniel King's tenure ending in June 2022

In June 2022, the Board's long serving Independent Non-Executive Director and External Director, Daniel King, will end his maximum nine-year term under the provisions of Israel's Companies Law, 5759-1999. Daniel is currently the Chair of the Remuneration and ESG Committees.

Daniel has been with Plus500 since its IPO and his expertise working with technology businesses, many of whom are based in Israel, has been invaluable in helping to navigate the Board and the business through various challenges and to help optimise the many opportunities that have arisen during his tenure.

New Chairs of Remuneration and ESG Committees to be appointed as of June 2022 - Listing Rule 9.6.11(3) Disclosure

As of 17 June 2022, Anne Grim, our Senior Independent Director, who is a member of the Remuneration Committee, will replace Daniel as the Chair of the Committee. In her capacity as an External Director, she will also replace Daniel as the third member of the Nomination Committee.

As of 17 June 2022, Steve Baldwin, Non-Executive Director and a member of the ESG Committee, will replace Daniel as the Chair of the Committee.

Prof. Jacob A. Frenkel, Chair of Plus500, commented:

"We are delighted to be welcoming Prof . Liberman to our Board. Having worked with a number of major international organisations over the years, she brings a significant experience and knowledge of corporate strategy, management decision-making and behavioral economics. Her views and perspectives will provide fresh dynamic to Board discussions and debates, and we look forward to working with her.

"In June 2022, our long serving Independent Non-Executive Director and External Director, Daniel King, will end his maximum nine-year term. I would like to thank Daniel for his long-standing support and guidance to the Board since the Company's IPO in 2013 and during an eventful and exciting period since that time. Daniel is, and has always been, a highly effective and engaged Board member who has made significant contributions as Chair of a number of Board Committees over the years. On behalf of the Board, I wish him all the best.

"We are also delighted to be welcoming, as of 17 June 2022, Steve Baldwin as the Chair of our ESG Committee, and our Senior Independent Director, Anne Grim, as the Chair of our Remuneration Committee. We are sure that both Steve and Anne will provide dynamic leadership and continue the positive work. On behalf of the Board, I wish them best of luck".

For further details: Plus500 Ltd Elad Even-Chen, Chief Financial Officer Rob Gurner, Head of Investor Relations [phone] [phone] [e-mail] MHP Communications Reg Hoare, Pete Lambie, Matthew Taylor [phone] [e-mail]

About Plus500

Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including Contracts for Difference ("CFDs") and share dealing, as well as futures and options on futures in the US.

The Group retains operating licenses and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, the United States, Estonia and the Seychelles and through its CFDs product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade CFDs in more than 50 countries and in 30 languages. Plus500 does not permit customers located in the US to trade CFDs.

In 2021, the Company acquired Cunningham  Commodities LLC, a Futures Commission Merchant, and  Cunningham Trading Systems LLC , a technology trading platform provider, both of which operate in the futures and options on futures market in the US, enabling Plus500 immediate access to that sizable and growing market. Also in 2021, the Company launched a new share dealing platform, 'Plus500 Invest',  across a number of product offerings, including a wide range of financial instruments comprising of the world's most popular equities, listed on major exchanges worldwide.

Plus500 does not utilise cold calling techniques and does not offer binary options. Plus500's trading platforms are accessible from multiple operating systems (Windows, iOS and Android) and web browsers. Customer care is and has always been integral to Plus500, as such, CFD customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for CFD platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses.

Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index.  www.plus500.com

 

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