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Share Name Share Symbol Market Type Share ISIN Share Description
Plus500 Ltd 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
  27.00 1.77% 1,552.00 1,552.00 1,553.00 1,555.00 1,520.00 1,545.00 252,754 16:15:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 267.3 142.7 101.8 14.9 1,630

Plus500 Limited Result of AGM

16/09/2020 4:00pm

UK Regulatory (RNS & others)


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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    Against     % Votes   Vote Withheld     Total Votes        % of 
                                           cast                   cast                       Cast (excl.       issued 
                                                                                           Votes Withheld)     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 ir@plus500.com for details.

 
 For further details 
  Plus500 Ltd Elad Even-Chen, Chief Financial      +972 4 8189503 
    Officer                            +44 7825 189088 
    Rob Gurner, Head of Investor        ir@Plus500.com 
    Relations 
 
    MHP Communications                +44 20 3128 8100 
    Reg Hoare, Rachel Mann,           Plus500@mhpc.com 
    Pete Lambie 
 

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

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September 16, 2020 11:00 ET (15:00 GMT)

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