UPDATE: Plus500 bosses sell PS67 million in shares to Goldman Sachs
Plus500 Ltd - Haifa, Israel-based trading platform operator - Three top executives sell 1.5 million existing shares at £44.78 per share, worth about £66.7 million, to Goldman Sachs International, part of New York-based investment bank Goldman Sachs Group Inc. The shares represent a 2.1% stake in Plus500. The sale, first announced after the London market close on Monday, is intermediated by broker Panmure Liberum Ltd. Goldman Sachs may or may not onward sell the shares, Plus500 says.
Following the sale, the trio consisting of Chief Executive Officer David Zruia, Chief Financial Officer Elad Even-Chen and Chief Marketing Officer Nir Zats continue to hold a combined 3.9% stake and have agreed to not sell any further shares for another year. Zruia sells 450,792 shares. He retains 1.3 million shares, a 1.9% stake. Even-Chen sells 940,000, retaining the exact same shareholding as Zruia. Nir Zats sells 109,208 shares, retaining 131,316.
On Monday, Plus500 started a new share buyback programme worth up to $100 million, also run by Panmure Liberum.
Current stock price: 4,429.99 pence, down 6.0% in London early Tuesday for £3.10 billion market capitalisation
12-month change: up 55%
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