Update on Acquisition

RNS Number : 5874Z

Plus500 Limited

18 September 2015

 



Plus500 Ltd.

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

Update on the recommended cash acquisition of Plus500 by Playtech PLC

Further to its announcements dated 1 June 2015 and 19 August 2015, the Board of Plus500 announces an update on the recommended cash acquisition of Plus500 by Playtech PLC ("Playtech") (the "Acquisition").

The Plus500 Board have been informed by Playtech that receipt of all regulatory approvals is taking longer than had originally been anticipated but still within the relevant regulatory timetables.

Playtech already holds a number of licences from financial regulatory bodies and the Board of Playtech is currently not aware of any issues which would give rise to the required regulatory approvals not being granted in due course, having already obtained the approval of the Cyprus Securities and Exchange Commission.

The statutorily required regulatory assessment of the Acquisition should be completed by the end of November 2015 but Playtech and Plus500 remain hopeful for an October 2015 completion.

For further information please contact:

Plus500 Ltd                                                                                                                           [phone]

Elad Even-Chen, Finance Director, VP Business Development and Head of Investor Relations   

[e-mail]

Liberum - Nomad and Broker                                                                                [phone]

Clayton Bush/Christopher Britton/Josh Hughes

MHP Communications                                                                                         [phone]

Reg Hoare/Tim Rowntree/Charlie Bristow

[e-mail] 

About Plus500

Company website: www.plus500.com

Plus500 has developed and operates an online trading platform for retail customers to trade CFDs internationally over more than 2000 different underlying global financial instruments comprising equities, ETFs, foreign exchange, indices and commodities. The Company enables retail customers to trade CFDs in more than 50 countries. The trading platform is accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone) and tablets (iOS, Android and Surface)) and the internet. The Directors believe that the success of the Company to date has been primarily due to the proprietary technology it has developed and continues to develop to support the trading platform. The trading platform has been designed to be as intuitive and easy to use as possible. The trading platform has been localised into over 31 languages. The Directors believe that this emphasis on technology, together with the Company's targeted online marketing strategy, has helped to differentiate the Company from its competitors.

 

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