REG - Investec PLC - Investec Ltd Preference Share Repurchase

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RNS Number : 5384X  Investec PLC  20 March 2026

 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 the JSE Listings
Requirements.

 

The Board accordingly advises as follows:

 

INVESTEC LIMITED NON-REDEEMABLE, NON-CUMULATIVE, NON-PARTICIPATING PREFERENCE
SHARES ("PREFERENCE SHARES") REPURCHASE

 

Investec Limited (the "Company") hereby advises that, in accordance with a
resolution passed by the Company's board on 19 November 2025 (the "Board
Resolution"), the Company may repurchase up to a maximum of 20% of the
Preference Shares in issue as at the date of and pursuant to the current
general authority granted by the Company's shareholders on 7 August 2025.

 

It was further resolved that any repurchases would, pursuant to the current
general authority, be within certain pre-determined price limits with specific
reference to the limits granted under the current the general authority as
well as the JSE Listings Requirements.

 

Shareholders are herewith advised that the Company has, pursuant to the
repurchase of Preference Shares announced via SENS by the Company on 10
December 2025, and in addition to the Preference Share repurchases announced
via SENS by the Company on 22 January 2026, repurchased 474,493 Preference
Shares from 22 January 2026 to 18 March 2026,  representing 1.91% of the
issued Preference Share capital as at the date of the current general
authority.

 

This brings the total number of Preference Shares repurchased under the
current general authority to 1,490,810, representing 6.00% of the issued
Preference Share Capital as at the date of the current general authority.
Following these repurchases, 23,345,033 Preference Shares remain in issue. The
Company may repurchase a further 3,476,358 Preference Shares, being 14.00% of
the Preference Shares in issue as at 7 August 2025, under the current general
authority.

 

The Preference Shares were repurchased for an aggregate value of
R47,318,733.71

 

 Number of preference shares repurchased  Average price per Preference Share (R)  Highest price per Preference Share (R)  Lowest price per Preference Share (R)  Aggregate value (R)
 474,493                                  99.72                                   100.50                                  99.20                                  47,318,733.71

 

The repurchases were made in terms of the current general authority and were
effected through the order book on the JSE trading system without any prior
understanding or arrangement     between the Company and the
counterparties.

 

To the extent not already done so, application will be made to the JSE to
de-list the Preference Shares repurchased, at which point they will
immediately be cancelled.

 

The impact of the repurchase of the Preference Shares on the financial
information of the Company is immaterial. The Preference Shares were
repurchased from excess cash resources of the Company; going forward, no
Preference Share dividends will be payable on the repurchased Preference
Shares and interest earned on the cash utilised for the repurchase will be
foregone.

 

OPINION OF THE BOARD OF THE COMPANY

 

The board of the Company has considered the effect of the repurchases and is
of the opinion that:

 

·    The Company and the Company and its subsidiaries (the "Group") will
be able, in the ordinary course of  business, to repay their debts for a
period of 12 months after the date of this announcement;

·     The consolidated assets of the Company and the Group will be in
excess of the consolidated liabilities of  the Company  and the Group for a
period of 12 months after the date of this announcement;

·    The Company's and the Group's share capital and reserves will be
adequate for the purposes of the business of the Company and the Group for a
period of 12 months after the date of this announcement; and

·     The Company and the Group will have sufficient working capital for
ordinary business purposes.

Johannesburg

20 March 2026

Sponsor

Investec Bank Limited

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