Directorate Changes

RNS Number : 9349N

Plus500 Limited

04 February 2021

 

4 February 2021

Plus500 Ltd.

("Plus500", "the Company" or "the Group")

Directorate Changes

Plus500, a leading technology platform for trading Contracts for Difference ("CFDs") internationally, today announces several changes to the composition of the Board of Directors (the "Board").

Appointment of Sigalia Heifetz as Non-Executive Director

Sigalia Heifetz will be joining the Board as a Non-Executive Director, with immediate effect. She will be appointed to the Remuneration Committee, Regulatory and Risk Committee and Disclosure Committee of the Board.  

Sigalia holds Non-Executive Directorships at a number of leading Israel-based corporations across a range of sectors and industries, including Nesher Israel Cement Enterprises Ltd, Clal Industries, Golf & Co, Maman, Tamar Petroleum and Clal Biotechnology Industries. She also previously held Non-Executive positions at Bet Shemesh Engines Ltd and Hadera Paper, prior to which she was an audit partner at accountancy firm BDO.

Sigalia holds a Bachelor's Degree in Accounting and Economics from Tel Aviv University and an EMBA from INSEAD and Tsinghua University.

Nomination for appointment of Tami Gottlieb as External and Non-Executive Director

Tami Gottlieb has been nominated for appointment as an External and Non-Executive Director at an Extraordinary General Meeting, expected to held on 16 March 2021, notice of which will be sent out shortly. Following confirmation of her appointment, Tami will join the Audit and Remuneration Committees of the Board.  Israeli law requires External Directors to be approved by shareholders in advance of appointment.  It also requires the Chair of the Audit Committee be filled by an External Director (External Directors must be appointed for a fixed three year period).

Tami has a long track record as a director in public and private companies, including in the financial services industry in Israel. Tami is currently an External Director at Bank Leumi - one of Israel's two largest commercial banks, where she is Chairperson of the Audit and Financial Reports Committees, and a member of the Remuneration Committee, the Credit & Business Committee and the Strategy Committee, having previously been on the Risk Management Committee and on the Technology Committee. Tami is also Chairperson at Shefayim Holdings Corporation, an External Director at Extell Limited, an Independent Director at Arad Investments and Development Ltd and a Director at Emilia Development. She is also a Co-founder and joint Managing Director of Harvest Capital Markets Ltd, a wealth management and corporate finance boutique.

Previously, she has held a number of other directorships at various diversified Israel-based companies, including Carasso Motors Ltd, REIT 1 Ltd, Albaad Ltd, and as Chairperson of dual NASDAQ and TASE-listed Perion. Tami holds a Bachelor's Degree in International Relations from the Hebrew University of Jerusalem and a Master's Degree in Economics from Indiana University. 

Charles Fairbairn stepping down as External and Non-Executive Director

Charles Fairbairn has notified the Board of his intention to step down from his position as an External and Non-Executive Director, having been a member of the Board since the Company's IPO in 2013. He will step down from the Board at the earlier of the Company's next Annual General Meeting, to be held later this year, or on 30 June 2021. 

Charles will continue to chair the Audit Committee until his departure, at which time Tami Gottlieb will take over this role.  Charles will step down from the other Board Committees on which he sits with immediate effect in order to focus on the handover of Audit Committee matters to Tami. Charles' replacement as Senior Independent Director will be disclosed by the Company in due course.

Penny Judd, Chairman of Plus500, commented :

"The Board is delighted to announce the appointment of Sigalia and the nomination to appoint Tami to the Board. They both have a deep knowledge of the corporate landscape in Israel and have also worked with a number of international high growth businesses. Sigalia has advised many Israel-based companies on their international growth ambitions, while Tami has an extensive background in the financial services sector, across a range of specialisms. Their combined experience and expertise will be invaluable for Plus500 as we look to continue to grow our business.  These appointments further diversify the composition of the Board, in line with UK Corporate Governance Code, and broaden its breadth of experience and knowledge."

"I would also like to take the opportunity, both personally and on behalf of the Board, to thank Charles for his substantial contribution to the development of Plus500 since the time of our IPO in 2013. His wise counsel and sage advice have been very much appreciated and we wish him all the best for the future."

David Zruia, Chief Executive Officer, commented:

"The Board appointment and nomination for appointment announced today are further evidence of the Board's progress in delivering on its key priorities of further improving our corporate governance frameworks and on continuing to diversify the Board's composition. With these factors in mind, supported by the on-going development of our overall approach to Environmental, Social and Governance matters, I believe that Plus500 is very well positioned, both operationally and financially, to deliver future growth for our shareholders."

The Company confirms that there is no further information to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Conduct Authority with regard to the appointment of Sigalia Heifetz and nomination for appointment of Tami Gottlieb.

For further details Plus500 Ltd Elad Even-Chen, Chief Financial Officer Rob Gurner, Head of Investor Relations [phone] [phone] [e-mail] MHP Communications Reg Hoare, Rachel Mann, Pete Lambie [phone] [e-mail]

The   information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. 

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 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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