Plus500 Share Discussion Threads

[aleman] 08/9/2023 11:29

The shares seem to be going the wrong way. The weakening £ should be pushing up earnings and the cash balance. The latter should be pushing £700m and consensus EPS is about 210p. The market cap is now only £1112m @ 1371p x 811m shares

[scepticalinvestor] 08/9/2023 11:04

Wht is going on

[scepticalinvestor] 07/9/2023 18:17

5th day down

[scepticalinvestor] 31/8/2023 08:47

Ah had my dates mixed

[scepticalinvestor] 31/8/2023 08:43

Was it last thurs?

[chucko1] 31/8/2023 08:20

It did go ex-div last Thursday.

[scepticalinvestor] 31/8/2023 08:16

Ex divi today and its up? Will never understand this mkt haha

[scepticalinvestor] 30/8/2023 10:16

Annoying as every rise is being constantly hammered down

[scepticalinvestor] 30/8/2023 10:16

LOL am i not allowed to be disgruntled

[chucko1] 30/8/2023 10:01

SI, care to reconcile #s 1001 and 1002 for us?

[scepticalinvestor] 30/8/2023 09:12

Becoming bargepole. Not even Share buybacks can save this POS

[scepticalinvestor] 25/8/2023 09:04

Got at few more at 1415...

[aleman] 24/8/2023 09:35

Thanks. I'd forgotten that for the moment. I checked and it was 20% on my previous dividends. Factor in the 0.8 difference and either the exchange rate used was a steepish $1.3154 or there has been a fee charged on top. (Though the £ had a small spike to $1.315 a few days after the payment date of July 11th.) This will be relevant to all holders here in future since the money will be getting converted into Sterling at Link in future and not at your broker. Although I have belatedly received the cash in Sterling, I have not got the dividend tax voucher with the calculations to confirm the details.

And given I've been told a different at every phone call, how can I know the story will not change again next time?

[pck76] 23/8/2023 20:35

There is an Israeli withholding tax that is applied before paying the dividend. I think it's 15% for individuals or 20% for companies (but I'm not sure). That might explain why you didn't get the amount you were expecting.

[aleman] 23/8/2023 17:16

I had a 7th call and a subsequent letter. I finally received my July 11th dividend payment by bank transfer in Sterling today. This should be the way everybody gets dividend payments from Link in future. Only one problem, though. I received about 20%+ less than I expected, with an implied exchange rate of 1.6443. I can't even guess how they might have got that amount.

8th call coming up!

[apollocreed1] 16/8/2023 14:57

If you cancel shares, doesn't that reduce their liquidity?

[oi_oi_savaloy] 16/8/2023 09:33

Yes I do (sadly).

[scepticalinvestor] 16/8/2023 08:53

You are thinking that the BOD will award themselves shares no doubt?

[oi_oi_savaloy] 16/8/2023 08:04

If Pus wanted to raise some finance (they're debt-free at the moment of course) could they use the bought-back shares as a way of doing so? Perhaps that's why they've not been cancelled?

I have my thoughts on why they've not been cancelled but all I seem to do is write v negatively about Plus so I'll keep my opinion to myself for the moment. I sincerely want Plus to do well.

[scepticalinvestor] 16/8/2023 07:45

Wonder why the treasury shares ate not cancelled

[aleman] 15/8/2023 15:31

My 6th call with Link was a manager ringing me. He says PLUS500 are moving to paperless dividend payments and the escrow account and foreign currency dividends situation with PLUS is unique for them and the change has been causing a few problems. They will be seeking bank details to pay to direct holders in Sterling in future. It seems I am now the first person to see the change after he took my bank details and promised the last dividend will be paid to me in Sterling within 5 days. All my future dividends should now come by bank transfer in Sterling, though it sounds like the exchange rate might be the prevailing rate from Link at the time of payment rather than one at a rate declared by PLUS?

It's a bit disappointing to find out this in a problematic way after the fact rather than by prior communication seeking bank details from the company and registrar but it should be better for everyone in future provided there is no rip-off on exchange rates

[oi_oi_savaloy] 15/8/2023 09:09

I don't think they'll move (unless the US takes off for them as a market/profit centre). Reason being the scrutiny is that much greater on the Nasdaq than the LSE (in my opinion).

Plus has never had the same multiple as it's peers because of it's Israeli domicility, it's early history of delivering nasty surprises, of it's opaque communications (look at yesterday and using H2 to compare to this year's H1 performance), the lack of hedging (which has good and bad to it of course as we all know) and the feeling that it's run as a bit of fiefdom rather than acknowledging it's a public company. I'm overweight in Plus (for my portfolio) which you might be surprised to hear (when you see the tone of my messages on here!); I just feel that the numbers continue to deliver but I don't like the way the company is run (.......but the numbers continue to deliver!).

[oi_oi_savaloy] 15/8/2023 08:47

I'm not sure how much is left of the existing buyback budget before they start on the new $60mill scheme..........but at £14 a share they'll take another 4million off the table bringing us down to roughly 75mill in circulation (give or take).

The trouble is the shares haven't been cancelled - so I'm assuming that that is one of the contributing reasons why the share price is falling/the buybacks have had pretty much no effect on the share price. They're effectively still live, it's just they can't be bought in the open market.

Watch the share price properly tank when they issue some of those shares to the directors in a couple of years when they think we've all forgotten. Cynic? Moi? ......Oh, yes.

[scepticalinvestor] 15/8/2023 08:28

Not sure these buybacks are working...