Non-executive director changes

RNS Number : 7799S

Investec PLC

19 March 2021

 

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 LEI: 213800CU7SM6O4UWOZ70

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

As part of the dual listed company structure, the boards of Investec plc and Investec Limited (together the "Boards") 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 United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.

Accordingly we advise of the following:

Non-Executive Director changes

The Board confirms that, in line with corporate governance guidelines and best practice regarding tenure, Investec Group Chairman Perry Crosthwaite will be standing down with effect from the Group's 2021 Annual General Meeting (the "AGM"), which will take place on 05 August 2021. Investec is in the process of appointing a successor to the position of Group Chairman and will make the relevant announcement at the appropriate time.

At the same time, and further to Charles Jacobs's upcoming appointment as co-head of U.K. investment banking at JP Morgan and Lord Malloch-Brown's appointment as President of the Open Society Foundations, both have indicated their intention not to stand for re-election at the AGM and accordingly Charles Jacobs will step down from the Boards with effect from 30 June 2021 and Lord Malloch-Brown will step down with effect from 05 August 2021.

The Boards are grateful to Charles and Lord Malloch-Brown for their service and commitment to the Group. We offer our sincere thanks and best wishes for their future endeavours.

The Group has an ongoing, structured board refreshment programme.  The Boards shall communicate any changes resulting therefrom as and when appropriate.

There are no further details required to be disclosed by Rule 9.6.11 of the UK Listing Rules.

For further information please contact:

Investec Investor Relations

Qaqambile Dwayi     

South Africa: [phone] / [phone]

[e-mail]

London and Johannesburg

19 March 2021

Sponsor: Investec Bank Limited

About Investec

Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa and the UK, as well as certain other countries. The group was established in 1974 and currently has approximately 8,500 employees.

In 2002, Investec implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. In March 2020, the group successfully completed the demerger of Ninety One, which became separately listed on 16 March 2020. Investec's current market capitalisation is approximately £2.4 billion.

 

END

 

 

BOADKFBKOBKDDND