Plus500 Ltd. — AGM Information 2020

Sep 16, 2020

National Storage Mechanism | Additional information

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 the 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 Officer Rob Gurner, Head of Investor Relations	+972 4 8189503 +44 7825 189088 ir@Plus500.com
MHP Communications Reg Hoare, Rachel Mann, Pete Lambie	+44 20 3128 8100 Plus500@mhpc.com

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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