Directorate Changes

RNS Number : 1305G

Investec PLC

13 March 2020

 

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 notify both the London Stock Exchange ("LSE") and the Johannesburg Stock Exchange ("JSE") Limited of matters which are required to be disclosed under the Disclosure Guidance and Transparency Rules (the "DTR"), and the Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

Accordingly, we advise of the following:

Investec Limited and Investec plc (together the "Group")

Directorate changes

The Board announces, in accordance with Section 3.59 of the JSE Limited Listings Requirements and Rule 9.6.11 of the United Kingdom ("UK") Listing Rules, the following director changes.

Further to the shareholder circular in relation to the proposed demerger of Ninety One, as published on 29 November 2019, and following the announcement on 10 February 2020 in regards to the successful outcome of the shareholder vote to proceed with the demerger and listing of Ninety One:

Hendrik du Toit, joint Chief Executive Officer, will step down from the Board, with effect from 16 March 2020. Fani Titi will continue on the Board as sole Chief Executive Officer. 

Kim McFarland, Executive Director, will step down from the Board, with effect from 16 March 2020.

The Board offers its sincere thanks to Hendrik and Kim for their exemplary service, dedication and commitment to the Group. They go with the Board's very best wishes to their roles at an independent Ninety One, where Hendrik will be CEO and Kim CFO and the Board wishes them every success.

At the same time the Board is pleased to confirm the appointment, effective 1 April 2020, of Ciaran Whelan and David van der Walt as Executive Directors of Investec plc and Investec Limited.

Ciaran, FCA (Irish) joined Investec in 1988. He has had extensive experience within the Group, including chief executive officer of Investec Bank Australia Limited and the global head of Investec Private Bank.

David, CA (SA), joined Investec in 1994. David has held a number of positions within the Group. In July 2004, David was appointed global head of corporate and institutional banking with responsibility for the business unit across all geographies before being appointed chief executive officer of Investec Bank plc in February 2010, stepping down in November 2019.

There are no further details required to be disclosed in regards to Rule 9.6.13 of the UK Listing Rules.

For further information please contact: 

Carly Newton   

Investec Investor Relations 

[phone] 

[e-mail]

Johannesburg and London

Date:  13 March 2020

Sponsor:  Investec Bank Limited

 

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