AGM Statement

Investec PLC

02 February 2024

 

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

Update statement with respect to votes received at the Annual General Meetings ("AGM") of Investec Limited and Investec plc (together the "Group")

As part of the dual listed company structure, Investec plc and Investec Limited (together the "Investec Group") notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure Guidance and Transparency Rules, and Listing Rules of the Financial Conduct Authority (the "FCA") and/or the JSE Listings Requirements.

The UK Corporate Governance Code requires companies to provide an update within six months of a general meeting where more than 20% of shareholders have voted against a resolution. This statement provides an update on our shareholder engagement and the actions we are taking Accordingly, we advise of the following:

At the AGM on 3 August 2023, resolution 34 (political donations), passed with a less than 80% majority.

The Boards of Directors of Investec plc and Investec Limited (the "Board") recognise that effective communication is integral in building stakeholder value and are committed to providing meaningful, transparent, timely and accurate financial and non-financial information to our stakeholders.  In addition to formal, written communication, executive management and non-executive board members continue to engage with our shareholders on a regular basis.

In respect of the less than 80% vote received for authority to make political donations and to incur political expenditure

As stated in the notices to the AGMs, Investec plc does not give any money for political purposes in the UK, nor does it make any donations to UK political organisations or incur UK political expenditure.  However, the definitions of political donations and political expenditure used in the UK Companies Act 2006 ("UK Companies Act") are very wide. In line with UK market practice, the authority was therefore requested only as a precautionary measure to ensure that Investec plc and any company which is or becomes a subsidiary of Investec plc does not inadvertently breach the relevant provisions of the UK Companies Act.

Investec Limited will continue to support the deepening of democracy through donations to independent organisations that support the Constitution of South Africa and voter education. Going forward, Investec Limited will not make donations to any political parties in South Africa.  

For further information, please contact:

Mr David Miller

Investec plc

Company Secretary

+ 44 (0)20 7597 4000

Johannesburg and London

Date: 02 February 2024

Sponsor: Investec Bank Limited

 

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