Share Name Share Symbol Market Type Share ISIN Share Description
Plus500 LSE:PLUS London Ordinary Share IL0011284465 ORD ILS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 934.50p 933.50p 934.50p - - - 0 06:37:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 265.6 123.1 82.6 12.0 1,070.42

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Date Time Title Posts
21/10/201716:25PLUS500 - CFD trading systems11,928
31/1/201713:49Plus TRADES thread.9
06/7/201520:58PLUS Markets (a subsidiary of ICAP plc)14
12/12/201012:04Finding trades on PLUS new website3

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Plus500 Daily Update: Plus500 is listed in the Software & Computer Services sector of the London Stock Exchange with ticker PLUS. The last closing price for Plus500 was 934.50p.
Plus500 has a 4 week average price of 824p and a 12 week average price of 624p.
The 1 year high share price is 969.50p while the 1 year low share price is currently 311p.
There are currently 114,544,716 shares in issue and the average daily traded volume is 496,724 shares. The market capitalisation of Plus500 is £1,070,420,371.02.
poolefox: Plus500 was a significant positive contributor (+5.81%) after it 'guided up' twice in the quarter. Its interim results showed profits up 100% when consensus started the year expecting profits to be down 30% for 2017. The shares continue to be a top weighting for us de-spite the good run. For 2017 we are still 30% ahead of the market in terms of the profit outcome and significantly more so for 2018. We believe that regulatory changes should continue to be a net positive for the business in the medium and probably the short term. We be-lieve that Plus500 has the most sustainable business model in the sector and that it will continue to win market share. The current run rate of Plus500 makes it the leader in its sector for both customer numbers and profitability, ahead of even IG Group. Furthermore, we feel the value of potential new licences is not reflected at all in the share price. For example, a Chinese licence could be as big as the entire existing business. On top of all this, the company is yet to start monetising one of their key assets, the ability to acquire customers efficiently in a digital world. We believe there are many companies in non-competing sectors who would pay Plus500 to do their digital marketing. The business trades at c. 7x pe or 4x EV/EBIT for 2017.
sailing john: Comparative chart below from 6th Dec (FCA tightening announcement date) Love this chart for various reasons!!! Interesting to note that despite PLUS's 100%+ increase in Market Cap over the period it's PE relative to IG and CMCX has remained at around a 50% discount! ie Share price move attributable to profit growth not the ongoing 50% disparity in PE between PLUS and IGG/CMCX which should close somewhat imo We perhaps need a premium listing/FTSE 250 entry to rectify - still hoping for a FY announcement
poolefox: Similar regulation in Japan initially resulted in share price falls then those with the most flexible platforms like plus took off
planelondon: I this morning's RNS is directly related to the news yesterday that PLUS was denied a financial services license in Bulgaria. See below: As SJ points out, the share buyback is managed independently of PLUS and cannot be used PLUS's board to defend the share price to any adverse reaction to this news. A positive) trading update is one of the ways open PLUS's board to counter this news and it appears to have had the desired effect.
sailing john: tech - not until they see the numbers - and then it's too late as price already moved Investing is all about understanding a business and how they communicate. As I said above when PLUS say ahead they mean AHEAD! Watch this space (and the share price) on the 31st! GL - SJ
stuffee: SJ, Nurdin, pl et al I agree with your views on brokers' forecasts and I certainly feel it reasonably conservative to assume 2017 eps of 158c or 123p (just double first half). The board has committed to utilise at least 60% of earnings as cash dividends and share buy backs. A share price of £10 would be supported by PE of 8 and yield of maybe over 7%, which I suggest would be far too modest a rating for such quality of earnings. Plus already complies with most of commentators' forecasts of potential new rules from the Regulators when they report next year. I heard an encouraging comment from Liberum yesterday: Moreover, having met many management teams in our sector and witnessed a few cycles I have rarely met a team who works so hard and appear just smarter than the rest in their industry. This hard work and attention to detail in the shifting sands of their industry has paid dividends over the past 12 months and I have great confidence in them continuing to provide shareholders with excess returns. I know El Cap will respond that Liberum are the Shop, but the days of the 1980s, when the corporate broker would be totally biased are surely over. I have also previously pointed out that Liberum have to decide the price at which shares have to be bought in. They have announced a programme of buying in $37m of shares between 2 June 2017 and 1 Feb 2018. They only appear to have bought in $7m in last 3 months so have to be mighty aggressive in the next 5 months to meet their target. Playtech could obviously oblige by placing its 10% to meet buy back target but methinks Playtech also agree this stock should be much higher.
planelondon: Some data and projections on the share buy-back programme: Number of shares purchased under buy-back to date: 942,146 (RNS 14/08/2017). Average price paid per share: 6.15p. Cost of shares purchased to date: GBP 5.796m (USD 7.535m). Remaining cash allocation for buy-back: GBP 22.818m (USD 29.664m). Number of shares that would have to be purchased at current price to complete buy-back: 2,593,026. Number of trading days outstanding to complete buy-back: 117 days. Daily average number of shares that would have to be purchased at current price to complete buy-back: 22,163. Percentage of company shares buy-back would purchase on completion at current price: 3.077%. * based on exchange rate GBPUSD 1.3 and share price 8.80p. Figures approximate. DYOR.
jpfoster21: some thoughts on the current Plus share price if anyone fancies a read hxxps:// Any comments/discussion welcome.
dasv: markets live just now 11:09AM Plus500 Ltd (PLUS:LSE): Last: 376.25, up 6.25 (+1.69%), High: 403.00, Low: 370.25, Volume: 6.87m BE Quite a turn of events, this. PM Indeed PM Left field bid news here Real time stream connected. New messages will appear here the moment they are published. BE And let's be clear here. It's a shotgun engagement. PM You term this an engagement, rather than a marriage... PM That feels significant BE Well, yes. I think we're a long way away from talking about this deal as if it's completed. BE Basically, it's a shotgun engagement before she's even had the chance to pee on the pregnancy test. PM Bryce! BE Sorry. You're reading the FT, to remind ...... BE So there are a few important things to note .......... BE Firstly, the MAC BE We don't know what it is. But we know there is one. BE The Material Adverse Change clause. BE Conference call was vague to the point of obfuscatory, but we did get this .... BE The "general concept is if business material declines from what was presented to us, this clause will take effect” BE Which in the context of a business that's just lost half its business, feels significant. BE We'll be told about the specific MAC scenarios later, apparently, though no indication when. BE In the meantime, Plus saying it'll be one month until the ID checks are done BE And this deal won't be completed until, perhaps, September BE (With no UK takeover code applying, please remember, so timelines are even fudgier than usual) BE Secondly ....... PM One of the conditions is that it's done by eyar end, mind BE True. BE Secondly ..... BE We learned via the conference call that Playtech approached Plus500, and that “discussions began over a week ago” BE I assume "over a week" means about eight days ago. PM hehehe PM Maybe 9 BE That's not a lot of DD, really. BE So we have a deal on the table for September that can be called off on as-yet undefined terms. BE It seems to me that either Plus500 will be worth a lot more than 400p by September, or a lot less. BE So, yeah, it's an engagement. An engagement before they both head down to Superdrug to find out the specifics of their predicament. BE Thirdly ...... BE We have acceptance from the Plus500 crew ...... BE ... who have 35.6% BE But not, notably, from Odey. PM Interesting, taht BE Yup. No mention in the statement, and one would assume as largest shareholder Odey would be wall-crossed over the weekend. BE Read a lot of arb stuff this morning saying Odey's in sub 300p so will be happy. BE Personally, I'm not so sure. BE Odey funds had 3.97% of Plus at float BE Went up to 13% during July 2014 at around the 440p level. BE Then up to 20% by buying in May BE Given the volatility we can only stab at the prices there, but using closing levels Odey looks to have been buying at prices around 478p, 376p, 322p and all the way down to 285p. BE Back of the envelope, I reckon Odey's average in price will be about 400p. PM hehe PM So currently 6% out of the money PM And there I was thinking the Odey buying was rather clairvoyant... BE If Odey (or Odey's deputies, as we've mentioned before) is confident of the business I can't understand why the fund would tender at breakeven. PM Hmm -- but the statement from Plus pretty much admits that they aren't up to managing the business they have created. certainly not on the publicly-listed stage PM I suspect -- barring a MAC event -- that Odey have no option PM But to accept PM But we'll see PM Meanwhile, it's fair to early to say whether Playtech becomes Dan McC's new plaything BE Yup -- what's interesting here is that it's capitulation from the Plus500 management. Hard to see a holder voting to basically force management to continue running a business they don't want to. BE Though if Odey was averaging down through May volatility for a rescue bid then I guess that would've been extremely .... clairvoyant. BE Have some sellside. Here's UBS. BE Playtech today announced the proposed acquisition of Plus500 for 400p per share, an 8% premium to Friday's close which itself was less than half the 12 month high of 781p seen before the news on 18 May that the "UK Financial Conduct Authority required a review of Plus500's anti-money laundering financial sanction systems… prohibiting all transactions for existing customers until additional AML procedures have been completed" (source: Playtech's press release today). This significantly impacted Plus500's share price and the business, with its management today indicating revenues are expected to be below 2014's levels "with margins expected to be significantly lower" as, according to the company's release today, "recent events and associated publicity have meant that Plus500 has become the subject of increased scrutiny and has received additional requests for information from its regulators". BE In 2014, Plus500's revenues were $229m/£139m, EBITDA $145m/£88m and EPS 89c/54p. At its recent AGM on 27 May, Plus500 revealed Q1 sales of $82m and that through the end of May it had added a further $26m, putting year-to-date revenues ahead of H1 14's level, but since the FCA inquiry c$4m of revenues had been lost. It said at the AGM it expected it would take another month to re-approve existing customers' documentation and modify the process for onboarding new customers. It had $92m of cash at the AGM date, meaning the acquisition price represents a c£400m EV, or 4.5x trailing EBITDA, although this year's profits should be much lower. BE Given Plus500 only announced the regulatory issues two weeks ago, it seems to us that the deal has been concluded in seemingly record time. We believe Playtech's management will likely feel that its own experience of operating a multi-jurisdictional regulated business will allow it to resolve Plus500's regulatory issues as fast as possible. However, investors are likely to be nervous, especially given the pace at which the deal has been concluded and given that Plus500's management appears willing to take a price almost half of where the shares were a month ago. BE Nothing from Liberum yet, sadly. BE Here's Daniel Stewart instead. BE Plus500 today announced that they have reached an agreement with Playtech regarding the terms of a recommended cash acquisition through which the entire issued ordinary share capital of Plus500 will be acquired by Playtech. The recent suspension of Plus500 shares and freezing of customer accounts whilst anti-money laundering procedures were tightened was enough to question the sustainability of the Plus500 business model. Playtech’s expertise in operating in multi-jurisdictional regulated markets will go some way towards alleviating such fears. Furthermore, we believe the acquisition makes strategic sense for Playtech, which recently acquired TradeFX, an online CFD, binary options broker and trading platform provider, and enhances its offering within the online trading market. The offer of 400p per share, represents a c.8% premium to Friday’s closing share price of 370p, valuing Plus500 at £459.6m. The acquisition is expected to be immediately earnings enhancing, with completion set for September 2015. BE Which says nearly nothing, as per.
dasv: BTW excellent performance in PLUS share price from Oct mini crash. more than 60% up and even now only trades on a PE 11. Can't help thinking the market doesn't trust PLUS though considering this valuation. Growth companies which are really trusted command much higher PE's. E.g. ABC, RMV let alone Allied Minds or ASC. -- undervaluedassets - IG has been trying to target a different class of customer. PLUS is going for the novices. IG seems to have been going for those with experience. BTW re: current markets, in China there's been a huge wave of new share dealing account sign-ups as property as an investment asset class has been heavily restricted. I think it's not much of a stretch that as markets rise further from here, more newcomers will start betting on the markets. It's once the markets have made new highs that newbies start thinking they can also win. So from that point of view, PLUS may find it easier, not harder to acquire new customers. -- it's so much more pleasant having SSW on filter. Suddenly the PLUS thread is a relatively civilised place again.
Plus500 share price data is direct from the London Stock Exchange
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