Director/PDMR Shareholding

RNS Number : 0850Q

Investec PLC

01 June 2018

 

Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06       JSE share code: INL NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949

Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50

As part of the dual listed company structure, Investec plc and Investec Limited (together "Investec") notify both the London and Johannesburg Stock Exchanges of those interests (and changes to those interests) of (i) directors of both entities and the respective company secretaries, (ii) persons discharging managerial responsibilities (PDMRs) across the group, and (iii) in certain instances the directors of major subsidiaries of Investec Limited, in the securities of Investec plc and Investec Limited which are required to be disclosed under Article 19 of the Market Abuse Regulation (Regulation 596/2014), the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements.

On 31 May 2018, the Remuneration Committee of Investec met and agreed the awards of conditional shares to Investec staff. Accordingly, we advise of the following transactions in shares:

TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC PLC ORDINARY SHARES")

1.    Interests in Investec plc Ordinary Shares

1.1  Award of forfeitable shares to S Koseff, B Kantor and GR Burger (together the "Executive Directors")

On 31 May 2018 and pursuant to the Executive Directors' remuneration policy approved by the shareholders, Investec made the following forfeitable share award (being the upfront portion of the Executive Directors' short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These forfeitable share awards vest immediately on award and are subject to a twelve month retention period.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff and Bernard Kantor
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 108,564 forfeitable shares for nil consideration to each of Stephen Koseff and Bernard Kantor
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 108,564 to each of Stephen Koseff and Bernard Kantor
d)	Aggregated information - Aggregated volume - Price	108,564 each Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Glynn Burger
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 94,403 forfeitable shares for nil consideration
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 94,403
d)	Aggregated information - Aggregated volume - Price	94,403 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

Disposal of shares by an executive director

The forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Bernard Kantor and Stephen Koseff disposed of the following number of forfeitable shares on 31 May 2018:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bernard Kantor
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 48,952 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP5.56 48,952
d)	Aggregated information - Aggregated volume - Price	48,952 GBP272,451.75
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

Number of shares	48,952
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP272,451.75
Highest price	GBP5.61
Lowest price	GBP5.51
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 140,000 ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) ZAR93.58 140,000
d)	Aggregated information - Aggregated volume - Price	140,000 ZAR13,102,184.00
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	Johannesburg

Number of shares	140,000
Volume weighted average selling price	ZAR93.58
Total value of transaction	ZAR13,102,184.00
Highest price	ZAR93.65
Lowest price	ZAR93.30
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, Johannesburg

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff
2	Reason for the notification
a)	Position/status	Executive Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 48,000 ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) ZAR93.95 48,000
d)	Aggregated information - Aggregated volume - Price	48,000 ZAR4,509,609.60
e)	Date of the transaction	01 June 2018
f)	Place of the transaction	Johannesburg

Number of shares	48,000
Volume weighted average selling price	ZAR93.95
Total value of transaction	ZAR4,509,609.60
Highest price	ZAR94.10
Lowest price	ZAR93.80
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, Johannesburg

1.2  Award of conditional shares to S Koseff, B Kantor and GR Burger

       On 31 May 2018 and pursuant to the Executive Directors' remuneration policy approved by the shareholders, Investec made the following conditional share award (being the deferred portion of the Executive Directors' short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff and Bernard Kantor
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 183,404 forfeitable shares for nil consideration to each of Stephen Koseff and Bernard Kantor. These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 183,404 to each of Stephen Koseff and Bernard Kantor
d)	Aggregated information - Aggregated volume - Price	183,404 each Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Glynn Burger
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 159,482 forfeitable shares for nil consideration. These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 159,482
d)	Aggregated information - Aggregated volume - Price	159,482 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1.3  Award of fixed allowance shares to the Executive Directors

Pursuant to the Executive Directors' remuneration policy approved by shareholders, each of the Executive Directors are to receive a contractual annual fixed allowance of £1 million each, payable in shares (the "Fixed Allowance Shares") and accordingly, on 31 May 2018, Investec made the following share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Plan.  These shares will vest on award and will be released in five equal tranches in each of the five years following the year of award.  

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff, Bernard Kantor and Glynn Burger
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of fixed allowance of 178,891 shares for nil consideration, to each of Stephen Koseff, Bernard Kantor and Glynn Burger, to vest on award and be released over a period of five years following the year of award
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 178,891 to each of Stephen Koseff, Bernard Kantor and Glynn  Burger
d)	Aggregated information - Aggregated volume - Price	178,891 each Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

Disposal of shares by an executive director

The fixed allowance forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Bernard Kantor disposed of the following number of forfeitable shares on 1 June 2018:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bernard Kantor
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 80,663 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP451,107.10 80,663
d)	Aggregated information - Aggregated volume - Price	80,663 GBP451,107.10
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1.4   Award of conditional shares to the Executive Directors

       Pursuant to the Executive Directors' remuneration policy approved by shareholders, new long-term Incentive awards of conditional shares have been made to the Executives, as set out below.  These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.

In accordance with the Plan rules, the awards are at nil cost and will vest in seven tranches following the year of award.   

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Koseff and Bernard Kantor
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 264,759 conditional shares to each of Stephen Koseff and Bernard Kantor for nil consideration to vest in seven tranches from 31 May 2019 to 31 May 2025. These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 264,759 to each of Stephen Koseff and Bernard Kantor.
d)	Aggregated information - Aggregated volume - Price	264,759 each Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Glynn Burger
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 239,066 conditional shares for nil consideration to vest in seven   tranches from 31 May 2019 to 31 May 2025 These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 239,066
d)	Aggregated information - Aggregated volume - Price	239,066 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1.5  Purchase of shares by an Executive Director

On 31 May 2018, Hendrik du Toit, purchased the following number of shares:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Hendrik du Toit
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market purchase of 106,000 ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP5.67 106,000
d)	Aggregated information - Aggregated volume - Price	106,000 GBP601,688.86
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:

Number of shares	106,000
Volume weighted average selling price	GBP5.67
Total value of transaction	GBP601,688.86
Highest price	GBP5.67
Lowest price	GBP5.67
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, London

2.    PDMRs and Company Secretary: interests in Investec plc Ordinary Shares

2.1   Award of forfeitable shares to PDMRs

On 31 May 2018, Investec made forfeitable share awards (being the upfront portion of short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These forfeitable share awards vest immediately on award and are subject to a twelve month retention period.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David van der Walt
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 68,739 forfeitable shares for nil consideration
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 68,739
d)	Aggregated information - Aggregated volume - Price	68,739 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ciaran Whelan
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 78,891 forfeitable shares for nil consideration
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 78,891
d)	Aggregated information - Aggregated volume - Price	78,891 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marc Kahn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 37,952 forfeitable shares for nil consideration
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 37,952
d)	Aggregated information - Aggregated volume - Price	37,952 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

1.6  Disposal of shares by a PDMR

The forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, David van der Walt, Marc Kahn and Ciaran Whelan disposed of the following number of forfeitable shares on 31 May 2018:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David van der Walt
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 32,373 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP5.56 32,373
d)	Aggregated information - Aggregated volume - Price	32,373 GBP180,178.15
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:

Number of shares	32,373
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP180,178.15
Highest price	GBP5.61
Lowest price	GBP5.51
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marc Kahn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 14,451 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP5.56 14,451
d)	Aggregated information - Aggregated volume - Price	14,451 GBP80,429.82
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:

Number of shares	14,451
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP80,429.82
Highest price	GBP5.61
Lowest price	GBP5.51
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, London

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ciaran Whelan
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	On market sale of 37,154 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)	Price(s) and volume(s)	Price(s) Volume(s) GBP5.56 37,154
d)	Aggregated information - Aggregated volume - Price	37,154 GBP206,787.72
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:

Number of shares	37,154
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP206,787.72
Highest price	GBP5.61
Lowest price	GBP5.51
Nature of interest	Direct beneficial
Date and place of transaction	31 May 2018, London

2.2   Award of conditional shares to PDMRs

On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec 1 Limited share incentive plan. These conditional share awards vest in three equal tranches in the third, fourth and fifth years from the year of award:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Elliott
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 125,000 conditional shares for nil consideration to vest in three equal tranches on the third, fourth and fifth years from the date of award.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 125,000
d)	Aggregated information - Aggregated volume - Price	125,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally between years three to seven from award date. The awards are subject to a further twelve month retention period after vesting.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David van der Walt
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 125,000 conditional shares for nil consideration which vest equally in years three to seven and are subject to a twelve month retention period
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 125,000
d)	Aggregated information - Aggregated volume - Price	125,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally in years two and half, three and a half and year five from date of award and are subject to a further twelve month retention period after vesting.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ciaran Whelan
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 125,000 conditional shares for nil consideration which vest equally in years two , three and a half and year five from date of award and are subject to a further twelve month retention period after vesting
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 125,000
d)	Aggregated information - Aggregated volume - Price	125,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally in years two and half, three and a half and year four and a half from date of award and are subject to a further twelve month retention period after vesting.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marc Kahn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 75,000 conditional shares for nil consideration which vest equally in years two, three and year four from date of award and are subject to a further twelve month retention period after vesting.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 75,000
d)	Aggregated information - Aggregated volume - Price	75,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

2.3   Award of conditional shares to PDMRs

       On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after vesting..

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David van der Walt
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 151,439 conditional shares for nil consideration which vest in years three to seven and are subject to a six month retention period after each vesting.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 151,439
d)	Aggregated information - Aggregated volume - Price	151,439 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

       On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest over five years and are subject to a further twelve month retention period after vesting.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ciaran Whelan
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 77,558 conditional shares for nil consideration which vest over five years and are subject to a twelve month retention period after vesting.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 77,558
d)	Aggregated information - Aggregated volume - Price	77,558 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

       On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest over three years and are subject to a further twelve month retention period after vesting.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Marc Kahn
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec plc
b)	LEI	2138007Z3U5GWDN3MY22
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of GBP0.0002 each GB00B17BBQ50
b)	Nature of the transaction	Award of 27,083 conditional shares for nil consideration which vest over three years and are subject to a further twelve month retention period after vesting.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 27,083
d)	Aggregated information - Aggregated volume - Price	27,083 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	London

2.5   Award of forfeitable shares in Investec plc ordinary shares to Company Secretary

       In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise of the following changes to attributable interests in Investec plc by the Company Secretary:

On 31 May 2018, Investec made forfeitable share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec 1 Limited share incentive plan. These forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:

Company Secretary:	Number of forfeitable shares:
David Miller	20,000

3.    TRANSACTIONS IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH (the "INVESTEC LIMITED ORDINARY SHARES") 

3.1   Award of conditional shares in Investec Limited ordinary shares to PDMRs 

On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan. These conditional share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Richard Wainwright
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec Limited
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of ZAR0.0002 each ZAE000081949
b)	Nature of the transaction	Award of 125,000 conditional shares for nil consideration to vest in three equal tranches in the third, fourth and fifth years from the date of award.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 125,000
d)	Aggregated information - Aggregated volume - Price	125,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	Johannesburg

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nishlan Samujh
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Investec Limited
b)	LEI	N/A
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of ZAR0.0002 each ZAE000081949
b)	Nature of the transaction	Award of 75,000 conditional shares for nil consideration to vest in three equal tranches in the third, fourth and fifth years from the date of award.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 75,000
d)	Aggregated information - Aggregated volume - Price	75,000 Nil
e)	Date of the transaction	31 May 2018
f)	Place of the transaction	Johannesburg

3.2   Award of forfeitable shares in Investec Limited ordinary shares to Company Secretary

       In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise of the following changes to attributable interests in Investec Limited by the Company Secretary:

On 31 May 2018, Investec made forfeitable share awards in respect of ordinary shares in the capital of Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan. These forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:

Company Secretary:	Number of forfeitable shares:
Niki van Wyk	20,000

01 June 2018

Sponsor:

Investec Bank Limited

 

END

 

 

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