REG - Investec PLC - INL Notification Change of Auditors for FY2025

InvestecAnnouncement

20/03/2023 09:15

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RNS Number : 5127T  Investec PLC  20 March 2023

 Investec Limited                               Investec plc

 Incorporated in the Republic of South Africa   Incorporated in England and Wales

 Registration number 1925/002833/06             Registration number 03633621

 JSE share code: INL                            LSE share code: INVP

 JSE share code: INPR                           JSE share code: INP

 JSE debt code: INLV                            ISIN: GB00B17BBQ50

 NSX share code: IVD                            LEI: 2138007Z3U5GWDN3MY22

 BSE share code: INVESTEC

 ISIN: ZAE000081949

 ISIN: ZAE000063814

 LEI: 213800CU7SM6O4UWOZ70

 

 

As part of the dual listed company structure, the boards of Investec plc and
Investec Limited (together the "Board") notify both the London Stock Exchange
and the JSE Limited of matters which are required to be disclosed under the
Disclosure Guidance and Transparency Rules, and Listing Rules of the United
Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

 

Accordingly, we advise of the following:

 

INVESTEC LIMITED NOTIFICATION OF CHANGE OF AUDITOR IN TERMS OF PARAGRAPH 3.78
OF THE JSE LISTING REQUIREMENTS AND PARAGRAPH 6.25 OF THE JSE DEBT LISTINGS
REQUIREMENTS

 

The Board of Investec Limited and the Audit Committee wish to inform
shareholders that, following a second comprehensive tender process, Deloitte
Incorporated (Deloitte Inc.) has been nominated as the second of their joint
external auditors, following the conclusion of a competitive tender process
led by the Company's Audit Committee, for the reporting period ending 31 March
2025 in compliance with the Independent Regulatory Board for Auditors' rule
pertaining to mandatory audit firm rotation.

 

The appointment of the firm and the designated audit partner is subject to
regulatory approval from the South African Prudential Authority (PA) and
accordingly further announcements in this regard, including the firm being
replaced will be made once the regulatory approval process has been concluded.

 

In accordance with section 61 of the Banks Act No. 94 of 1990, section 90 of
the South African Companies Act No. 71 of 2008, paragraph 3.86 of the JSE
Listings Requirements as well as paragraph 7.3(e) of the JSE Debt Listings
Requirements, the appointment of Deloitte Inc. will be recommended to the
ordinary shareholders at the annual general meeting to be held in August 2024
and will subsequently be submitted to the PA for regulatory approval.

 

A formal transition process will commence from 01 April 2023 whereby the
proposed firm will observe the full audit cycle performed by the incumbent
joint external auditors.

 

 

INVESTEC PLC NOTIFICATION OF CHANGE OF AUDITOR

 

The Board of Investec plc and the Audit Committee wish to inform shareholders
that, following a comprehensive tender process, Deloitte LLP has been
nominated as its new external auditor for the reporting period ending 31 March
2025, following the conclusion of a competitive tender process led by the
Company's Audit Committee.

 

The appointment will be recommended for approval to the ordinary shareholders
at the annual general meeting to be held in August 2024. The tender process
has been carried out in line with Competition and Markets Authority
regulations, applicable EU requirements and Financial Reporting Council
guidance and considered both large and challenger audit firms.

 

It is proposed that the incumbent auditors EY LLP (EY) will continue in their
role for the reporting period ending 31 March 2024. A formal transition
process will commence from 01 April 2023 whereby the appointed firm will
observe the full audit cycle performed by the incumbent auditors.

 

 

Johannesburg

20 March 2023

 

Sponsor

Investec Bank Limited

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