Directorate Change

RNS Number : 7416W

Investec PLC

31 January 2013

 



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

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

As part of the dual listed company structure, Investec plc and Investec Limited notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure, Transparency and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements.

Accordingly we advise of the following:

Investec plc and Investec Limited (the "Group") - Directorate changes

After serving as a non-executive director for 15 years and Chairman of the Group's Audit Committees for 8 years, Sam Abrahams has indicated his intention not to seek re-election to the boards of Investec Limited and Investec plc (the "Board") and will step down as Chairman of the Group's Audit Committees with effect from 08 August 2013, the date of the Group's Annual General Meetings.

Further to the above, and in accordance with Section 3.59 of the JSE Limited Listing Requirements and Rule 9.6.11 of the UK Listing Rules, the Board announces the appointment, effective 01 March 2013, of David Friedland as a non-executive director of Investec Limited and Investec plc. At the same time, David will be appointed as a member of the Group's Audit Committees. David will be appointed as Chairman of the Group's Audit Committees at the time Sam steps down from that role on 08 August 2013.

After 36 years in the profession, David will retire as partner of KPMG, South Africa, on 28 February 2013. David has extensive audit experience of listed companies across a broad range of sectors. Save for the directorships listed in the notes, there are no further details required to be disclosed by Rule 9.6.13 of the UK Listing Rules.

As Chairman on the Group's Audit Committees, Sam has played a pivotal role over a period characterised by a much changed regulatory and financial landscape and the whole Board wishes him well and thanks him for his contribution to the Board and the Group's Audit Committee.

For further information please contact:

Investec Investor Relations                                                                            

Ursula Nobrega                                                                    

[phone]               

[e-mail]

London and Johannesburg

31 January 2013

Notes:

Current directorships:

·      KPMG Inc - appointed June 2002

·      KPMG Services (Pty) Ltd - appointed June 2002

Both of the above companies are incorporated in the Republic of South Africa. David will resign as a director of these companies with effect from 28 February 2013.

About Investec

Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. The Group was established in 1974 and currently has approximately 8 000 employees.

Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity namely, Asset Management, Wealth & Investment and Specialist Banking.

In July 2002 the Investec Group implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. The combined Group's current market capitalisation is approximately GBP3.7bn.

 

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