Update on acquisition by Playtech PLC

RNS Number : 1757G

Plus500 Limited

18 November 2015

 



Plus500 Ltd.

("Plus500", "the Company" or "the Group")

Update on the recommended cash acquisition of Plus500 by Playtech PLC

Further to the Company's announcements dated 18 September and 12 October 2015, the Plus500 Board have been informed by Playtech plc ("Playtech") that it expects a decision on its application to the Financial Conduct Authority (FCA) in connection with the acquisition of Plus500 in December 2015. The terms of the Merger Agreement are such that it may be terminated if the acquisition is not consummated by 31 December 2015.

Playtech has informed Plus500 that the FCA's regulatory assessment is a confidential process between the FCA and Playtech. Playtech will only announce further details on conclusion of the process.

Since the acquisition was announced earlier in the year Plus500 has been managed on an independent, business as usual, basis and will continue as such.

The Company confirms that if the Merger is completed cancellation of admission of Plus500 Shares to trading on AIM is expected to incur a corresponding delay. The Company will update the market in due course.

For further information please contact:

Plus500 Ltd                                                                                                                           [phone]

Elad Even-Chen, Finance Director, VP Business Development and Head of Investor Relations   

[e-mail]

Liberum - Nomad and Broker                                                                                [phone]

Clayton Bush/Christopher Britton/Josh Hughes

MHP Communications                                                                                         [phone]

Reg Hoare/Tim Rowntree/Charlie Bristow

[e-mail] 

About Plus500

Company website: www.plus500.com

Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 2000 different underlying global financial instruments comprising equities, ETFs, foreign exchange, indices and commodities. The Company enables retail customers to trade CFDs in more than 50 countries. The trading platform is accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone) and tablets (iOS, Android and Surface)) and the internet. The Directors believe that the success of the Company to date has been primarily due to the proprietary technology it has developed and continues to develop to support the trading platform. The trading platform has been designed to be as intuitive and easy to use as possible. The trading platform has been localised into over 31 languages. The Directors believe that this emphasis on technology, together with the Company's targeted online marketing strategy, has helped to differentiate the Company from its competitors.

 

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