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Plus500 Ltd (PLUS)

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Wednesday 16 September, 2020

Plus500 Ltd

Result of AGM

RNS Number : 2156Z
Plus500 Limited
16 September 2020
 

 

16 September 2020

Plus500 Ltd.

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

Result of AGM

Plus500, a leading technology platform for trading Contracts for Difference ("CFDs") internationally, announces the results of resolutions proposed at today's Annual General Meeting ("AGM").

For information, the results of the poll are set out below:

Resolutions

For

% Votes cast

Against

% Votes cast

Vote Withheld

Total Votes Cast (excl. Votes Withheld)

% of issued share capital*

1.  Re-elect Penelope Judd

56,221,656

84.21

10,544,212

15.79

224,113

66,765,868

63.00

2.  Re-elect Gal Haber

65,179,285

97.03

1,996,696

2.97

-

67,175,981

63.39

3.  Re-elect David Zruia

67,137,797

99.15

578,184

0.85

-

67,715,981

63.90

4.  Re-elect Elad Even-Chen

66,095,044

97.61

1,620,937

2.39

-

67,715,981

63.90

5.  Re-elect Steven Baldwin

61,356,638

90.91

6,135,229

9.09

224,113

67,491,867

63.69

6.  Elect Anne Grim

67,623,565

99.81

123,901

0.19

12,281,827

67,747,466

63.93

7.  Re-appoint the auditors

66,655,778

98.43

1,060,203

1.57

-

67,715,981

63.90

8.  Authorise Board to fix remuneration of auditors

64,314,671

94.98

3,401,310

5.02

-

67,715,981

63.90

9.  Authorise issue of equity

66,959,494

98.88

756,487

1.12

-

67,715,981

63.90

10. Authorise issue of equity for acquisitions or debt reduction

65,545,325

96.79

2,170,656

3.21

-

67,715,981

63.90

11. Purchase own shares

67,478,074

99.98

11,829

0.02

226,078

67,489,903

63.68

12. Amend t he Company's Articles of Association to increase size of Board

67,189,903

99.22

526,078

0.78

-

67,715,981

63.90

13. Amend Remuneration Policy

64,445,724

95.44

3,077,629

4.56

12,505,940

67,523,353

63.72

14. Approve fees to Anne Grim

67,747,466

100

0

0

12,281,827

67,747,466

63.93

15. Approve increase in fees to Steven Baldwin

67,383,802

99.51

331,969

0.49

210

67,715,771

63.90

16. Approve increase in fees to Daniel King

67,383,802

99.51

331,969

0.49

210

67,715,771

63.90

18. Approve increase in salary to David Zruia

67,220,665

99.22

526,591

0.78

12,282,037

67,747,256

63.93

19. Approve grant of RSU to David Zruia

65,457,861

96.62

2,289,395

3.38

12,282,037

67,747,256

63.93

 

To view the full wording of, and the votes required for, each of the resolutions, please refer to the Notice of 2020 Annual General Meeting which is available on the Company's website. 

Votes withheld are not a vote in law and have not been counted in the calculation of the votes for and against the resolution, the total votes validly cast or the calculation of the proportion of issued share capital voted. 

 

Withdrawal of Resolution 17

It should be noted that Resolution 17 was withdrawn prior to the meeting. This resolution, the substance of which is incorporated into the Company's remuneration policy, proposed to approve a special bonus be payable to Mr. Even-Chen, the Company's Executive Director and Chief Financial Officer, in recognition of his extraordinary contribution and commitment over a number of years to obtain an unprecedented and highly beneficial approval from the Israel Tax Authority and the Israel Innovation Authority, yielding immediate benefit and substantial value for our shareholders. This achievement, as announced in the Company's interim results on 11 August 2020, has ensured a significantly reduced Corporation Tax liability and is expected to deliver repayments and cash savings of over $100 million for the Company and its shareholders. 

While many of the Company's major shareholders were supportive of this achievement and the related resolution, some shareholders had expressed concerns.  The Board and the Remuneration Committee consider that a bonus is appropriate given the outstanding efforts of Mr Even-Chen. Consequently, the Company will further engage with these shareholders to ensure their concerns are considered ahead of the resolution being proposed to shareholders again at an EGM to be convened later this year to cover the remuneration of the Company's Directors for 2021 (as the Company is required to do under Israeli Law) .

Listing Rule 9.6.2 and total voting rights

In accordance with Listing Rule 9.6.2, copies of the resolutions that do not constitute ordinary business at an annual general meeting and the amended Articles of Association will shortly be available for inspection via the National Storage Mechanism:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

* As at 17 August 2020 , the day on which shareholders had to be on the register in order to be eligible to vote, the number of Ordinary Shares of NIS 0.01 in issue, entitling the holders to vote on all the resolutions at the AGM, was 105,975,056 (excluding treasury shares), and the Company held 8,913,321 Ordinary Shares in treasury.

The Notice of AGM and the voting results are also available on the Company's website at  www.plus500.com . A recording of the AGM is available - shareholders should contact [email protected] for details.

 

For further details

Plus500 Ltd

Elad Even-Chen, Chief Financial Officer

Rob Gurner, Head of Investor Relations

+972 4 8189503

+44 7825 189088

[email protected]

 

MHP Communications

Reg Hoare, Rachel Mann, Pete Lambie

 

+44 20 3128 8100

[email protected]

 

 

 

 

 

 

 

 

 

About Plus500

 

Plus500 operates a proprietary technology platform for individual customers to trade CFDs internationally. The Group offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is accessible from multiple operating systems (Windows, iOS, Android and Surface) and web browsers. Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore and the Seychelles.

Customer care is and has always been integral to Plus500, as such, customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for 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 does not utilise cold calling techniques and does not offer binary options.  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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