Plus500 Limited Results of Special General Meeting (2835T)
16 July 2015 - 11:31PM
UK Regulatory
TIDMPLUS
RNS Number : 2835T
Plus500 Limited
16 July 2015
16 July 2015
PLUS500 SHAREHOLDERS APPROVE RECOMMENDED CASH ACQUISITION BY
PLAYTECH PLC
Results of Special General Meeting and Withholding Tax
update
On 1 June 2015, the Boards of Playtech plc ("Playtech") and
Plus500 Ltd ("Plus500") announced that they had reached agreement
regarding the terms of a recommended cash acquisition through which
the entire issued ordinary share capital of Plus500 will be
acquired by Playtech by means of a merger under the Israeli
Companies Law (the "Acquisition").
Plus500 is pleased to announce that the Acquisition was today
approved at the Special General Meeting ("SGM") of the Plus500
shareholders by an overwhelming majority of 93.4% of the votes cast
at the SGM, representing 71.8% of Plus500's total voting power. The
approval satisfies the two voting threshold requirements for the
approval of the Acquisition:
-- A majority of the total voting power of Plus500; and
-- A majority of the votes cast at the SGM by shareholders who
are not affiliated with the Playtech Group or with any shareholder
holding 25% or more of the issued share capital of Playtech.
Completion of the Acquisition remains conditional on satisfying
a number of conditions including receipt of regulatory approvals
and antitrust clearance and the approval of Playtech's
shareholders, as detailed in the Information Statement posted to
Shareholders on 11 June 2015. The Playtech Circular and Notice of
General Meeting is expected to be published shortly. It is expected
that these conditions will be satisfied by the end of September
2015.
Further to the Information Statement posted to Shareholders on
11 June 2015, Plus500 has obtained a Tax Ruling (the "Tax Ruling")
from the Israeli Tax Authority ("ITA"), which provides that no
Israeli tax shall be withheld from the proceeds that are to be
received by non-Israeli resident shareholders of Plus500 upon the
sale of their Plus500 shares in the Acquisition, provided that each
such shareholder can meet certain identification requirements set
by the ITA.
Each certificated shareholder and DI Holder of Plus500 will
receive (directly or through his broker, as applicable) a copy of a
declaration form in the form prescribed by the ITA (the
"Declaration Form") together with detailed instructions for
completing and mailing the Declaration Form to ensure they are able
to benefit from the Tax Ruling. Further details of this process
will be released in due course.
Unless otherwise defined herein, capitalized terms in this
announcement have the meanings ascribed to them in the Information
Statement posted to Shareholders on 11 June 2015.
For further information please contact:
Plus500 Ltd +972 4 8189503
Elad Even-Chen, Finance Director, VP Business Development and
Head of Investor Relations
ir@Plus500.com
Liberum - Nomad and Broker +44 20 3100 2222
Clayton Bush, Christopher Britton, Josh Hughes
MHP Communications +44 20 3128 8100
Reg Hoare, Tim Rowntree, Adam Leviton
Plus500@mhpc.com
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
2,000 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 (Window, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROMXQLFFEDFXBBB
Plus500 (LSE:PLUS)
Historical Stock Chart
From Apr 2024 to May 2024
Plus500 (LSE:PLUS)
Historical Stock Chart
From May 2023 to May 2024