Investec Limited: intention to purchase shares

RNS Number : 4550B

Investec PLC

03 October 2022

 

Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL JSE hybrid code: INPR JSE debt code: INLV NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949 LEI: 213800CU7SM6O4UWOZ70

Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 LEI: 2138007Z3U5GWDN3MY22

Investec Limited intention to purchase Investec PLC ordinary shares

 

Investec Limited announces today that it has entered into an irrevocable and non-discretionary agreement with J.P. Morgan Equities South Africa Propriety Limited and J.P. Morgan Securities plc (together the "Broker") to conduct an on-market purchase (the "Purchase Programme") of Investec PLC ordinary shares (the "Shares"). The Broker will act as principal and will purchase shares on the Johannesburg Stock Exchange, the London Stock Exchange or other trading venues in the United Kingdom on which the Shares are listed and traded on the basis of its own trading decisions concerning the timing of the purchases of the Shares independently of Investec Limited. The Shares will then be sold on by the Broker to Investec Limited.

The Broker shall not purchase shares or securities relating to the Shares on trading venues based in the United States of America or knowingly from any persons located in the United States of America, nor shall it knowingly undertake any other transactions or trading activity in connection with the Programme with persons located in the United States of America.

The Purchase Programme forms part of Investec's capital optimisation strategy. The Purchase Programme will be limited to a maximum aggregate market value equivalent of 1.2bn South African Rand. Any purchases of Shares by the Broker will be made in accordance with certain pre-set parameters set out in the terms of the Broker's engagement. The Purchase Programme will commence on 3 October 2022 and will end on or before 17 November 2022.  The Shares will be treated as if they were treasury shares in the consolidated annual financial statements of the Investec Group.

For further information please contact:

Investec Investor Relations

General enquiries: [e-mail]

Results:

Qaqambile Dwayi  Carly Newton

SA Tel: [phone]   UK Tel: [phone]

3 October 2022

Johannesburg and London

JSE Equity Sponsor:

Investec Bank Limited

Forward-looking Statements

This announcement contains forward-looking statements. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Investec plc's and Investec Limited's control. These forward-looking statements speak only as of the date on which they are made. Investec plc and Investec Limited expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement or any other forward-looking statements they may make.

 

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