Investec plc - Results of Placing

RNS Number : 0796A

Investec PLC

02 June 2016

 

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

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL

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:

2 June 2016

INVESTEC PLC

RESULTS OF PLACING OF 30,870,000 NEW ORDINARY SHARES AT A PLACING PRICE OF GBP 4.48 PER SHARE

Investec plc ("Investec" or the "Company") is pleased to announce the completion of the placing announced on 2 June 2016 (the "Placing").

A total of 30,870,000 new ordinary shares (the "New Shares") in Investec plc have been placed with existing and new institutional shareholders at a price of GBP 4.48 per New Share (the "Placing Price") raising gross proceeds of approximately GBP 138.3 million. The New Shares being issued represent approximately 4.99% of the Company's issued ordinary share capital prior to the Placing.

The New Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing ordinary shares in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after the date of issue of the New Shares.

Application has been made to the Financial Conduct Authority (the "FCA") for the New Placing Shares to be admitted to the premium listing segment of the Official List of the UK Listing Authority and to the London Stock Exchange (the "LSE") and to the JSE Limited (the "JSE") for admission to trading of the New Placing Shares on its main market for listed securities (together, "Admission"). It is expected that Admission will take place at 8.00am on 6 June 2016 (at which time the Placing will become unconditional), and that dealings in the New Shares will commence at the same time.

Investec's enlarged issued ordinary share capital immediately following the issue of the New Shares will be 648,288,864 ordinary shares of GBP 0.0002 each. Each ordinary share carries one voting right. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in interest in, the share capital of the Company under the Disclosure and Transparency Rules. Investec plc also has one Special Voting Share in issue to facilitate joint voting by shareholders of Investec plc and Investec Ltd on joint electorate actions.

South African Sponsor

Investec Bank Limited

For further information please contact:

Investec plc                                                                [phone] / + 27 11 286 7070

Stephen Koseff

Bernard Kantor

Ursula Nobrega

 J.P. Morgan Cazenove                                                                          [phone]

Alex Watkins

Virginia Khoo

Charlie Walker

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 UK and Europe, South Africa and Asia/Australia as well as certain other countries. The group was established in 1974 and has approximately 8,500 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.

This announcement including its Appendix (together, the Announcement) and the information contained in it is restricted and is not for publication, release or distribution, in whole or in part, directly or indirectly, in, into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia, together the United States), Australia, Canada or Japan or any other state or jurisdiction in which publication, release or distribution would be unlawful, restricted or unauthorised (each a Restricted Territory). This Announcement is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for shares in the capital of the Investec plc (the Company) in any Restricted Territory or any other state or jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Any failure to comply with these restrictions may constitute a violation of the securities laws of such jurisdictions. Subject to certain exemptions, the securities referred to in this Announcement may not be offered or sold in any Restricted Territory or for the account or benefit of any national resident or citizen of any Restricted Territory. The Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act) or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or transferred, directly or indirectly, within the United States except pursuant to registration under the Securities Act or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. The Placing Shares are being offered and sold in the United States only to a limited number of "qualified institutional buyers" (QIBs) in reliance on Rule 144A under the Securities Act or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and are being offered and sold outside the United States in offshore transactions in accordance with Regulation S under the Securities Act. To the extent that Placing Shares are offered for acquisition or sale in South Africa, such offer is being effected in terms of section 96 of the South African Companies Act, No. 71 of 2008 (South African Companies Act) and does not constitute an offer to the public or any sector of the public within the meaning of the South African Companies Act. No public offering of the shares referred to in this Announcement is being made in the United Kingdom, South Africa, any Restricted Territory or elsewhere.

This Announcement has been issued by, and is the sole responsibility of, the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by J.P. Morgan Securities plc (which conducts its UK investment banking business under the name J.P. Morgan Cazenove) (JPMC) or by any of its affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

JPMC is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA) in the United Kingdom. JPMC is acting solely for the Company and no one else in connection with the Placing and it will not be responsible to anyone other than the Company for providing the protections afforded to its clients nor for providing advice in relation to the Placing and/or any other matter referred to in this Announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on JPMC by the Financial Services and Markets Act 2000 or by the regulatory regime established under it, neither J.P. Morgan Cazenove nor any of its affiliates accepts any responsibility whatsoever for the contents of the information contained in this Announcement or for any other statement made or purported to be made by or on behalf of JPMC or any of its affiliates in connection with the Company, the Placing Shares or the Placing. JPMC and its affiliates accordingly disclaim all and any liability, whether arising in tort, contract or otherwise (save as referred to above) in respect of any statements or other information contained in this Announcement and no representation or warranty, express or implied, is made by JPMC or any of its affiliates as to the accuracy, completeness or sufficiency of the information contained in this Announcement.

The distribution of this Announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or JPMC that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and JPMC to inform themselves about, and to observe, such restrictions.

The information in this Announcement may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction, or disclosure of this information in whole or in part is unauthorised. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

The Placing Shares to be issued pursuant to the Placing will not be admitted to trading on any stock exchange other than the London Stock Exchange and JSE Limited (licensed as an exchange under the South African Financial Markets Act, No. 19 of 2012, as amended) (the JSE).

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.

 

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