REG - Investec PLC - Investec Limited Purchase Programme

InvestecAnnouncement

21/11/2022 08:00

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RNS Number : 0382H  Investec PLC  21 November 2022

 Investec Limited                               Investec plc
 Incorporated in the Republic of South Africa   Incorporated in England and Wales

Registration number 1925/002833/06
Registration number 3633621
 JSE share code: INL
LSE share code: INVP

 JSE hybrid code: INPR                          JSE share code: INP

ISIN: GB00B17BBQ50
 JSE debt code: INLV

                                              LEI: 2138007Z3U5GWDN3MY22
 NSX share code: IVD

 BSE share code: INVESTEC

 ISIN: ZAE000081949

 LEI: 213800CU7SM6O4UWOZ70

 

Investec Limited intention to purchase Investec plc ordinary shares and to repurchase Investec Limited ordinary shares
 

 

Shareholders are referred to the interim results for the period ended 30
September 2022 released on 17 November 2022, wherein shareholders were
advised that Investec Limited has approved a proposed share purchase and share
buy-back programme, in conjunction with the initial share purchase programme
previously announced, of up to a total of R7 billion (c.£350 million),
pursuant to which Investec Limited would purchase Investec plc ordinary shares
and would repurchase Investec Limited ordinary shares. Investec anticipates
that this programme will be executed over the next 18 months subject to market
conditions (collectively, "the Programme").

 

As part of the continued execution of the Programme, Investec Limited has
entered into a mandate with Investec Markets Limited (the "Broker") to conduct
an on-market purchase of Investec plc ordinary shares and the repurchase of
Investec Limited ordinary shares ("the Shares") ("the Mandate"). The Broker
will act as principal and will purchase the Shares, on the Johannesburg Stock
Exchange, the London Stock Exchange or other trading venues in the United
Kingdom and South Africa on which the Shares are listed. The Shares will then
be sold on by the Broker to Investec Limited.

 

The Broker shall not purchase shares or securities relating to the Shares on
trading venues based in the United States of America or knowingly from any
persons located in the United States of America, nor shall it knowingly
undertake any other transactions or trading activity in connection with the
Programme with persons located in the United States of America.

 

The Mandate does not specify as to how the R7 billion (c.£350 million) will
be deployed across the various share registers. The Mandate will commence on
Monday, 21 November 2022 and will end on or before 31 March 2023.

 

The repurchased Investec Limited shares will be cancelled and reinstated as
authorised but unissued shares in the share capital of Investec Limited. The
purchased Investec plc shares will be treated as if they were treasury shares
in the consolidated annual financial statements of the Investec Group.
Investec Limited has elected to waive voting and dividend rights of the
purchased Investec plc shares unless notified otherwise.

 

For further information please contact:

Investec Investor Relations

General enquiries: investorrelations@investec.co.za
(mailto:investorrelations@investec.co.za)

 

Results:

Qaqambile
Dwayi
Carly Newton

SA Tel: +27 (0)83 457 2134
                               UK Tel: +44 (0)20
75974493

 

 

21 November 2022

Johannesburg and London

 

JSE Equity Sponsor:

Investec Bank Limited

 

Forward-looking Statements

 

This announcement contains forward-looking statements. By their nature, all
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances which are beyond Investec plc's and Investec
Limited's control. These forward-looking statements speak only as of the date
on which they are made. Investec plc and Investec Limited expressly disclaim
any obligation or undertaking to release publicly any updates or revisions to
any forward-looking statements contained in this announcement or any other
forward-looking statements they may make.

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