Plus500 Director Charles Fairbairn increases stake in company

During the course of the summer, efficient publicly listed CFD broker Plus500 (LON:PLUS) was the subject of investment interest by banking giant JP Morgan as part of what is a relatively rare circumstance among retail FX firms insfar as banks are not often known to pick up large stakes in non-bank FX firms, but also due to the nature of the transactions which took place.

JP Morgan made incremental investments in Plus500 stock over a very short period of time, becoming a major stakeholder, and soon afterwards relinquished stock, with its interest in the firm reducing from 14% in June to under 10% in August, as the share price continued to rise, providing the bank with a very rapid return on investment whilst still holding a large stake.

The firm has since released its bi-annual report, which demonstrated remarkable success for the company, and ensuring continued interest by shrewd industry participants in large stakeholdings in the company. As last week drew to a close, via an announcement by the London Stock Exchange, it was revealed that Charles Fairbairn, a non-executive director of the Company, purchased 9,644 Ordinary Shares of NIS 0.01 each in the Company at a price of 518 pence per share.

In this particular transaction which took place on October 24, Mr. Fairbairn also transferred 10,000 Ordinary Shares of NIS 0.01 per share of Plus500 from his ISA account into his SIPP. The transfer took place at a price of 517 pence per share. Following these transactions, Mr. Fairbairn has an interest in 174,861 Ordinary Shares representing approximately 0.15% of Plus500’s issued share capital.

For the full announcement by London Stock Exchange, please click here.

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