Plus500 announces management and directorate changes 

Plus500, a leading online service provider for retail customers to trade CFDs internationally, today announces management and directorate changes and notice of its first quarter trading update.

Management and Directorate changes

Plus500 announces today that Elad Even-Chen will be appointed to the role of Group Chief Financial Officer on 15 March 2016; Mr Even-Chen currently serves as the Finance Director and VP Business Development at Plus500 Ltd., is a director of Plus500CY Ltd and has worked for the Group for the last four years. Mr. Even- Chen is a certified accountant in Israel and, prior to joining Plus500, was at KPMG, specialising in commerce and real estate audit. Mr. Even-Chen holds a B.A. in Accounting and Economics, an LL.B Degree and an MBA (specialising in Financial Management). It is intended that Mr. Even-Chen will join the Board of Plus500 in due course. Mrs. Inbal Marom, who is currently and has been Chief Financial Officer for the past seven years, will be appointed as VP Finance alongside Mr Even-Chen, in which role she will continue to make a significant contribution to the finance function as part of the Group’s senior management team.

Additionally, Plus500 announces today that Paul Boyle, a non-executive director of the Company, has indicated his intention not to stand for re-election at the Company’s forthcoming Annual General Meeting due to be held on 10 May 2016. Mr Boyle has decided to step down to concentrate on his existing full time executive role at Aviva plc.

The Company is seeking to replace Mr. Boyle with an appropriate candidate and will make a further announcement in due course.

The Company confirms that in relation to the appointment of Mr. Even-Chen (aged 30), there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Notice of Q1 Trading Update

Plus500 will announce a trading update for its first quarter ended 31 March 2016 on 18 April 2016.

Commenting on the Board changes, Plus500 Chairman, Alastair Gordon, said:

“The board is grateful to Mr. Boyle for his service during a period which has seen significant regulatory challenges, but also strong process on operational business front. His contribution has been of huge value to the business and we wish him every success in the future.

“At the same time we are pleased to recognise Mr Even-Chen’s contribution to the business and the important role he plays representing the Company to shareholders and the financial markets.”

Source: Plus500

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