Director/PDMR Shareholding

RNS Number : 7742I
Investec PLC
12 August 2019
 

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 Listings Requirements.

 

 

TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH 

 

1.         Forfeiture of Shares by Executive Directors

 

1.1        Forfeiture of Shares by Bernard Kantor

 

Bernard Kantor stepped down from his role as executive director of the Investec group, on 08 August 2019. As disclosed in the Investec group's 2019 Annual Report, this has resulted in a pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018 and the Fixed Allowance Award for 2019.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

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

 

 

Pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018 and the Fixed Allowance Award for 2019

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

 

Nil

 

199,655 shares forfeited in respect of Long-Term Conditional Awards for 2017 and 2018

 

 

Nil

 

 

30,397 shares forfeited in respect of the Fixed Allowance Award for 2019

 

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

230,052

 

 

Nil

 

e)

 

Date of the transaction

 

 

08 August 2019

f)

 

Place of the transaction

 

 

London

 

1.2        Forfeiture of Shares by Stephen Koseff

 

Stephen Koseff stepped down from his role as executive director of the Investec group, on 08 August 2019. As disclosed in the Investec group's 2019 Annual Report, this has resulted in a pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018 and the Fixed Allowance Award for 2019.

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Stephen Koseff

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

 

 

Pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018 and the Fixed Allowance Award for 2019

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

 

Nil

 

199,655 shares forfeited in respect of Long-Term Conditional Awards for 2017 and 2018

 

 

Nil

 

 

30,397 shares forfeited in respect of the Fixed Allowance Award for 2019

 

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

 

 

 

230,052

 

 

Nil

 

e)

 

Date of the transaction

 

 

08 August 2019

f)

 

Place of the transaction

 

 

London

 

 

TRANSACTION IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH

 

2.         Correction of a previous RNS announcement

 

2.1        Correction of the RNS announcement dated 31 May 2019 confirming the award of 35,000 forfeitable shares for nil consideration to Stuart Spencer

 

Further to the announcement of 31 May 2019 confirming the award of 35,000 forfeitable shares for nil consideration to Stuart Spencer, we note a typographical error in section 4(c) of the table detailing the transaction in that the volume of shares awarded is recorded as 123,864. The correct number of shares awarded was, as per sections 4(a) and (d) 35,000 forfeitable shares. We confirm all other details disclosed in relation to this transaction are correct.

 

 

TRANSACTIONS BY PDMR IN INVESTEC LIMITED AND INVESTEC PLC ORDINARY SHARES

 

3.         Unwinding of a zero premium collar

 

Ciaran Whelan entered into a zero premium collar on the 5th September 2016 and the information in relation to that collar was announced in a regulatory announcement on 6th September 2016. Investec have been advised Ciaran has entered into transactions for the purchase and sale of options in order to unwind the collars. Accordingly we advise of the following:

 

3.1        Investec Limited

 

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 Limited

b)

 

LEI

 

 

213800CU7SM6O4UWOZ70

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 (INL Shares)

 

ZAE000081949

 

b)

 

Nature of the transaction

 

 

Unwinding of a zero premium collar entered into on 05 September 2016 through the following:

 

The buy back by Investec of the sold put options at a strike price of ZAR86.48 per share expiring on 5 September 2019 and the sale by Investec of the bought call options at a strike price of ZAR120 per share expiring on 5 September 2019.

 

 

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

ZAR7.80 FOR EACH PUT OPTION

338,333

ZAR0.14 FOR EACH CALL OPTION

338,333

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

PUT OPTIONS - 338,333

CALL OPTIONS - 338,333

 

 

PUT OPTIONS - ZAR7.80PER OPTION

CALL OPTIONS - ZAR0.14 PER OPTION

 

 

 

 

e)

 

Date of the transaction

 

 

08 August 2019

f)

 

Place of the transaction

 

 

Johannesburg

 

Number of shares

338,333

Volume weighted average selling price

N/A

Total value of transaction

ZAR 2,351,066.48

Highest price

N/A

Lowest price

N/A

Nature of interest

Direct beneficial

Date and place of transaction

08 August 2019

 

3.2        Investec plc

 

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 (INP Shares)

 

GB00B17BBQ50

 

b)

 

Nature of the transaction

 

 

Unwinding of a zero premium collar entered into on 05 September 2016 through the following:

 

The buy back by Investec of the sold put options at a strike price of ZAR86.48 per share expiring on 5 September 2019 and the sale by Investec of the bought call options at a strike price of ZAR120 per share expiring on 5 September 2019.

 

 

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

ZAR7.80 FOR EACH PUT OPTION

61,257

ZAR0.14 FOR EACH CALL OPTION

61,257

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

 

- Price

 

 

PUT OPTIONS - 61,257

CALL OPTIONS - 61,257

 

 

PUT OPTIONS - ZAR7.80PER OPTION

CALL OPTIONS - ZAR0.14 PER OPTION

 

 

 

 

e)

 

Date of the transaction

 

 

08 August 2019

f)

 

Place of the transaction

 

 

Johannesburg

 

 

Number of shares

61,257

Volume weighted average selling price

N/A

 

Total value of transaction

ZAR 469,343.62

Highest price

N/A

Lowest price

N/A

Nature of interest

Direct beneficial

Date and place of transaction

08 August 2019

 

 

 

Clearance was obtained for the above dealings in securities.

 

Johannesburg and London

12 August 2019

 

Sponsor:

Investec Bank Limited

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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