Plus500 Limited Result of placing (4721G)

TIDMPLUS

RNS Number : 4721G

Plus500 Limited

02 March 2018

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, ISRAEL OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE OF THIS ANNOUNCEMENT.

Plus500 Limited

("Plus500" or "the Company")

Result of Placing of 7,272,728 Existing Ordinary Shares in Plus500

Further to the announcement made earlier today, Plus500, a leading online trading platform provider for retail customers to trade CFDs internationally, announces that the founders of the Company (the "Founders") have notified Plus500 that they have sold an aggregate of 7,272,728 ordinary shares in the capital of the Company at a price of GBP11.00 per share (the "Placing") raising aggregate gross proceeds of GBP80.0 million for the Founders.

The Placing is expected to settle on a T+5 basis on 9 March 2018, subject to the satisfaction or waiver of certain customary conditions. The Company is not a party to the Placing and will not receive any proceeds from the Placing.

The Founders have agreed with Liberum not to sell any further ordinary shares they hold in the capital of the Company for a period of 180 days after completion of the Placing.

The Placing was executed through Liberum Capital Limited.

Details of the number of Placing Shares sold by the Founders are as follows:

 
                                        Resultant shareholding 
                                         after Placing Shares 
                                         have been sold 
-------------------  ----------------  ------------------------- 
 Founder                 Number of          Shares          % 
                       Placing Shares 
-------------------  ----------------  ---------------  -------- 
 Alon Gonen(1)           3,400,732        8,491,539       7.45 
-------------------  ----------------  ---------------  -------- 
 Gal Haber(2)            1,203,640        3,005,457       2.64 
-------------------  ----------------  ---------------  -------- 
 Elad Ben-Izhak(3)       1,203,640        3,005,457       2.64 
-------------------  ----------------  ---------------  -------- 
 Omer Elazari             732,358         1,828,683       1.61 
-------------------  ----------------  ---------------  -------- 
 Shlomi Weizmann          732,358         1,828,683       1.61 
-------------------  ----------------  ---------------  -------- 
 Total                   7,272,728        18,159,819      15.94 
-------------------  ----------------  ---------------  -------- 
 

(1) The shares are registered in the name of Sparta24 Ltd.

(2) The shares are registered in the name of Wavesoft Ltd.

(3) The shares are registered in the name of Smarty Ltd.

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").

Company website: www.plus500.com

For further details:

Plus500 Ltd

Elad Even-Chen, Chief Financial Officer

[e-mail]

Tel: [phone]

Liberum - Nomad and joint broker

Clayton Bush, Neil Elliot, Josh Hughes

www.liberum.com

Tel: [phone]

MHP Communications

Reg Hoare, Tim Rowntree, Kelsey Traynor

[e-mail]

Tel: [phone]

MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE PLACING. THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT (1) IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA, PERSONS WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF ARTICLE 2(1)(E) OF EU DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE "PROSPECTUS DIRECTIVE"); (2) IN THE UNITED KINGDOM, PERSONS WHO (I) HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMED) (THE "ORDER"); OR (II) FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR (III) ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE LAWFULLY BE MADE (ALL SUCH PERSONS REFERRED TO IN (1) AND (2) TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer or an invitation to acquire or dispose of securities in the United States, Canada, Australia, South Africa, Japan or Israel or in any other jurisdiction in which such an offer or invitation is unlawful.

The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States, and, absent registration, may not be offered or sold in the United States or to, or for the account or benefit of, US Persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any relevant state or other jurisdiction of the United States. There will be no public offering of the Placing Shares in the United States or elsewhere.

The Placing Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Placing or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.

No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by Plus500, the Founders, Liberum or any of their respective affiliates.

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Australia, South Africa, Japan or Israel. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian, South African or Japanese securities laws.

The distribution of this announcement and the offering or sale of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by Plus500, the Founders, Liberum or any of their respective affiliates that would, or which is intended to, permit a public offer of the Placing Shares in any jurisdiction or possession or distribution of this announcement or any other offering or publicity material relating to the Placing Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Plus500, the Founders and Liberum to inform themselves about and to observe any applicable restrictions.

Liberum which is regulated by the Financial Conduct Authority in the United Kingdom, isacting only for the Founders in connection with the Placing and will not be responsible to anyone other than the Founders for providing the protections offered to the clients of Liberum, nor for providing advice in relation to the Placing or any matters referred to in this announcement.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
---  ----------------------------------------------------------------------- 
 a)   Name                       1. Alon Gonen(1) 
                                  2. Gal Haber(2) 
                                  3. Elad Ben-Izhak(3) 
                                  4. Omer Elazari 
                                  5. Shlomi Weizmann 
 
                                  (1) The shares are registered in the 
                                  name of Sparta24 Ltd. 
                                  (2) The shares are registered in the 
                                  name of Wavesoft Ltd. 
                                  (3) The shares are registered in the 
                                  name of Smarty Ltd. 
---  -------------------------  -------------------------------------------- 
 2    Reason for the notification 
---  ----------------------------------------------------------------------- 
 a)   Position/status            1. PDMR 
                                  2. Managing Director 
                                  3. PDMR 
                                  4. PDMR 
                                  5. PDMR 
---  -------------------------  -------------------------------------------- 
 b)   Initial                    Initial notification 
       notification/ 
       Amendment 
---  -------------------------  -------------------------------------------- 
 3    Details of the issuer, emission allowance market 
       participant, auction platform, auctioneer or 
       auction monitor 
---  ----------------------------------------------------------------------- 
 a)   Name                       Plus500 Ltd. 
---  -------------------------  -------------------------------------------- 
 b)   LEI                        549300X8NGW9C5OJZU13 
---  -------------------------  -------------------------------------------- 
 4    Details of the transaction(s): section to be 

       repeated for (i) each type of instrument; (ii) 
       each type of transaction; (iii) each date; and 
       (iv) each place where transactions have been 
       conducted 
---  ----------------------------------------------------------------------- 
 a)   Description                 Ordinary shares of NIS 0.01 par value 
       of the 
       financial 
       instrument, 
       type of 
       instrument 
 
 
                                   IL0011284465 
       Identification 
       code 
---  -------------------------  -------------------------------------------- 
 b)   Nature                     Placing of ordinary shares by the company's 
       of the                     founders 
       transaction 
---  -------------------------  -------------------------------------------- 
 c)   Price(s)                     Price(s)       Volume(s) 
       and volume(s)               -------------  -------------- 
                                    1. GBP11.00    1. 3,400,732 
                                     2. GBP11.00    2. 1,203,640 
                                     3. GBP11.00    3. 1,203,640 
                                     4. GBP11.00    4. 732,358 
                                     5. GBP11.00    5. 732,358 
                                   -------------  -------------- 
---  -------------------------  -------------------------------------------- 
 d)   Aggregated 
       information 
 
        *    Aggregated volume     1. Not applicable - single transaction 
                                   2. Not applicable - single transaction 
                                   3. Not applicable - single transaction 
                                   4. Not applicable - single transaction 
        *    Price                 5. Not applicable - single transaction 
---  -------------------------  -------------------------------------------- 
 e)   Date of                    2 March 2018 
       the transaction 
---  -------------------------  -------------------------------------------- 
 f)   Place                      London Stock Exchange 
       of the 
       transaction 
---  -------------------------  -------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 02, 2018 02:00 ET (07:00 GMT)