Fintech giant Plus500 has told investors it has made “substantial progress” in pursuing its strategy, as it prepares for the start of its annual general meeting (AGM) later this morning.
The AGM will see Plus500 investors asked to vote on 20 separate resolutions, including on plans to launch a major share buyback scheme and boost executive pay.
Plans for the share buyback scheme would see the firm buy up 9,959,828 of its own shares – equivalent to a 10 per cent stake in the firm.
In seeking to win its investors on side, the FTSE 250 fintech company, first formed in 2008 by graduates of the Israel Institute of Technology, boasted it had made significant progress in achieving its aims.
The firm noted that the past year had seen it develop an array of new technologies and seen it expand into new locations.
The online trading company, which offers online services for those trading contracts for difference (CfDs), noted that the previous year has also seen it launch $105m worth of share buybacks, in line with shareholder’s wishes.
Looking forwards, the firm said it aims to pursue future growth via organic investment and acquisitions, as the online trading platform pushes forwards with plans to offer investors futures trading tools.