AGM Trading Update

RNS Number : 9775J

Plus500 Limited

03 May 2022

 

3 May 2022   

Plus500 Ltd.

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

AGM Trading Update

Plus500, a global multi-asset fintech group operating proprietary technology-based trading platforms, issues the following trading update ahead of today's Annual General Meeting, which will take place in London at 10.00am BST.

The Group has continued to perform very well against its key metrics so far in FY 2022. In addition, the Group has made further substantial progress against its strategic priorities, as it continues to develop new technologies to support the expansion into new geographies and product offerings .

During the year-to-date, the Group has announced share buyback programmes totalling approximately $105m, reflecting the Board's continued confidence in the future prospects of Plus500 and the Group's strong financial position. These share buyback programmes also highlight a preference for share buybacks from a number of Plus500's major investors, following the Group's continued engagement with shareholders.

The Group will continue to invest in future growth through further organic investments and acquisitions. This builds on recent achievements including on-going enhancements to the Group's core product offering, the development of its new US futures offering including becoming a full clearing member of the CME in the US, the purchase of EZ Invest Securities in Japan and the on-going development of Plus500 Invest, its share-trading platform, across European markets.

With significant continued operational and financial momentum to further drive the Group's strategic position as a global multi-asset fintech group, the Board expects that Plus500 will continue to deliver sustainable growth over the medium to long term.

The Company will hold a Capital Markets Day event on 19 September 2022.

The Company will publish its half year results  for the six months ended 30 June 2022 on 17 August 2022.

For further details Plus500 Ltd. Elad Even-Chen, Chief Financial Officer Rob Gurner, Head of Investor Relations [phone] [phone] [e-mail] Brunswick Charles Pretzlik, Partner Paul Durman, Partner [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.

The Group retains operating licenses and is regulated in the United Kingdom, Australia, Cyprus, Israel, Japan, 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.

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

Forward looking statements

This announcement contains statements that are or may be forward-looking statements. All statements other than statements of historical facts included in this announcement may be forward-looking statements, including statements that relate to the Group's future prospects, developments and strategies. The Company does not accept any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions express by the press or other media regarding the Group. The Company makes no representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication.

Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "projects", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements include, but are not limited to, those described in the Risk Management Framework section of the Company's most recent Annual Report. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as at the date of this announcement. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

 

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