REG - Investec PLC - Voluntary Shareholder update

InvestecAnnouncement

Tue 13:00

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RNS Number : 0712U  Investec PLC  05 August 2025

 Investec Limited                               Investec plc

Incorporated in the Republic of South Africa

Registration number 1925/002833/06            Incorporated in England and Wales

JSE share code: INL

                       Registration number 3633621
 JSE hybrid code: INPR

                       LSE share code: INVP
 JSE debt code: INLV

                       JSE share code: INP
 NSX share code: IVD

                       ISIN: GB00B17BBQ50
 BSE share code: INVESTEC

                       LEI: 2138007Z3U5GWDN3MY22
 ISIN: ZAE000081949

 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 Financial
Conduct Authority (the "FCA") and/or the JSE Listings Requirements.

 

Voluntary shareholder update

 

Investec welcomes the clarity provided by the Supreme Court of England and
Wales' (the "Supreme Court") judgment on the appeal against the Court of
Appeal's decision in Wrench, Hopcraft and Johnson concerning the payment of
finance commission by motor finance lenders to motor dealers acting as credit
brokers, which was handed down on 1 August 2025.

 

In establishing the provision estimate of £30mn, the Group created a number
of scenarios to address uncertainties around a number of key assumptions.
These included the potential outcomes of the UK Supreme Court appeal, any
steps that the UK Financial Conduct Authority ("FCA") may take and outcomes in
relation to the extent of harm and remedies. Other key assumptions included
applicable commission models, commission rates, time periods, response rates,
uphold rates, levels of redress/interest applied and costs to deliver. Whilst
the judgment announced on 1 August provides additional clarity, there remain a
number of uncertainties.

 

The FCA announced that it will publish a consultation on an industry wide
redress scheme by early October 2025. The provision will continue to be
reviewed as and when further information becomes available.

 

Following the initial assessment of the Supreme Court judgment and pending
resolution of the outstanding uncertainties, in particular the FCA redress
scheme, Investec believes that the current provision remains adequate.

 

Shareholders are advised that this voluntary update is based on financial
information that has not

been reviewed and reported on by the group's external auditors.

 

London and Johannesburg

5 August 2025

 

Sponsor

Investec Bank Limited

 

 

 

 

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