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INVESTEC LIMITED - Transactions in Investec plc ordinary shares

Release Date: 12/08/2019 17:45
Code(s): INL INP     PDF:  
 
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Transactions in Investec plc ordinary shares

Investec Limited                                             Investec plc
Incorporated in the Republic of South Africa                 Incorporated in England and Wales
Registration number 1925/002833/06                           Registration number 3633621
JSE share code: INL                                          LSE share code: INVP
NSX share code: IVD                                          JSE share code: INP
BSE share code: INVESTEC                                     ISIN: GB00B17BBQ50
ISIN: ZAE000081949


As part of the dual listed company structure, Investec plc and Investec Limited (together
“Investec”) notify both the London and Johannesburg Stock Exchanges of those interests (and
changes to those interests) of (i) directors of both entities and the respective company
secretaries, (ii) persons discharging managerial responsibilities (PDMRs) across the group, and
(iii) in certain instances the directors of major subsidiaries of Investec Limited, in the securities
of Investec plc and Investec Limited which are required to be disclosed under Article 19 of the
Market Abuse Regulation (Regulation 596/2014), the Disclosure Guidance and Transparency
Rules of the United Kingdom Listing Authority (the “UKLA”) and/or the JSE Listings
Requirements.


TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH

1.         Forfeiture of Shares by Executive Directors

1.1        Forfeiture of Shares by Bernard Kantor

           Bernard Kantor stepped down from his role as executive director of the Investec group,
           on 08 August 2019. As disclosed in the Investec group’s 2019 Annual Report, this has
           resulted in a pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018
           and the Fixed Allowance Award for 2019.

      1      Details of the person discharging managerial responsibilities / person
             closely associated

      a)     Name                           Bernard Kantor


      2      Reason for the notification

      a)     Position/status                Director


      b)     Initial notification           Initial Notification
             /Amendment


      3      Details of the issuer, emission allowance market participant, auction
             platform, auctioneer or auction monitor

      a)     Name                           Investec plc


      b)     LEI                            2138007Z3U5GWDN3MY22


      4      Details of the transaction(s): section to be repeated for (i) each type of
             instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
             where transactions have been conducted
      a)     Description of the financial
             instrument, type of            Ordinary shares of GBP0.0002 each
             instrument
                                            GB00B17BBQ50
             Identification code


      b)     Nature of the transaction      Pro rata forfeiture of the Long-Term Conditional
                                            Awards for 2017 and 2018 and the Fixed
                                            Allowance Award for 2019
      c)     Price(s) and volume(s)
                                              Price(s)                 Volume(s)


                                              Nil                      199,655 shares
                                                                       forfeited in respect of
                                                                       Long-Term Conditional
                                                                       Awards for 2017 and
                                                                       2018


                                              Nil                      30,397 shares forfeited
                                                                       in respect of the Fixed
                                                                       Allowance Award for
                                                                       2019



      d)     Aggregated information


             - Aggregated volume            230,052


             - Price                        Nil


      e)     Date of the transaction        08 August 2019


      f)     Place of the transaction       London



1.2        Forfeiture of Shares by Stephen Koseff

           Stephen Koseff stepped down from his role as executive director of the Investec group,
           on 08 August 2019. As disclosed in the Investec group’s 2019 Annual Report, this has
           resulted in a pro rata forfeiture of the Long-Term Conditional Awards for 2017 and 2018
           and the Fixed Allowance Award for 2019.

      1      Details of the person discharging managerial responsibilities / person
             closely associated

      a)     Name                           Stephen Koseff


      2      Reason for the notification
a)   Position/status                Director


b)   Initial notification           Initial Notification
     /Amendment


3    Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

a)   Name                           Investec plc


b)   LEI                            2138007Z3U5GWDN3MY22


4    Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
     where transactions have been conducted


a)   Description of the financial
     instrument, type of            Ordinary shares of GBP0.0002 each
     instrument
                                    GB00B17BBQ50
     Identification code


b)   Nature of the transaction      Pro rata forfeiture of the Long-Term Conditional
                                    Awards for 2017 and 2018 and the Fixed
                                    Allowance Award for 2019
c)   Price(s) and volume(s)
                                     Price(s)                 Volume(s)


                                     Nil                      199,655 shares
                                                              forfeited in respect of
                                                              Long-Term Conditional
                                                              Awards for 2017 and
                                                              2018


                                     Nil                      30,397 shares forfeited
                                                              in respect of the Fixed
                                                              Allowance Award for
                                                              2019



d)   Aggregated information


     - Aggregated volume            230,052


     - Price                        Nil


e)   Date of the transaction        08 August 2019
      f)     Place of the transaction        London




TRANSACTION IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH

2.         Correction of a previous RNS announcement

2.1        Correction of the RNS announcement dated 31 May 2019 confirming the award of
           35,000 forfeitable shares for nil consideration to Stuart Spencer

           Further to the announcement of 31 May 2019 confirming the award of 35,000 forfeitable
           shares for nil consideration to Stuart Spencer, we note a typographical error in section
           4(c) of the table detailing the transaction in that the volume of shares awarded is
           recorded as 123,864. The correct number of shares awarded was, as per sections 4(a)
           and (d) 35,000 forfeitable shares. We confirm all other details disclosed in relation to
           this transaction are correct.


TRANSACTIONS BY PDMR IN INVESTEC LIMITED AND INVESTEC PLC ORDINARY
SHARES

3.         Unwinding of a zero premium collar

           Ciaran Whelan entered into a zero premium collar on the 5th September 2016 and the
           information in relation to that collar was announced in a regulatory announcement on
           6th September 2016. Investec have been advised Ciaran has entered into transactions
           for the purchase and sale of options in order to unwind the collars. Accordingly we
           advise of the following:

3.1        Investec Limited

      1      Details of the person discharging managerial responsibilities / person
             closely associated

      a)     Name                            Ciaran Whelan

      2      Reason for the notification

      a)     Position/status                 PDMR


      b)     Initial notification            Initial notification
             /Amendment


      3      Details of the issuer, emission allowance market participant, auction
             platform, auctioneer or auction monitor

      a)     Name                            Investec Limited


      b)     LEI                             213800CU7SM6O4UWOZ70
4    Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
     where transactions have been conducted


a)   Description of the financial
     instrument, type of            Ordinary shares of ZAR0.0002 each (INL Shares)
     instrument
                                    ZAE000081949
     Identification code


b)   Nature of the transaction      Unwinding of a zero premium collar entered into on
                                    05 September 2016 through the following:

                                    The buy back by Investec of the sold put options at
                                    a strike price of ZAR86.48 per share expiring on 5
                                    September 2019 and the sale by Investec of the
                                    bought call options at a strike price of ZAR120 per
                                    share expiring on 5 September 2019.


c)   Price(s) and volume(s)
                                     Price(s)                 Volume(s)

                                     ZAR7.80 FOR EACH         338,333
                                     PUT OPTION
                                     ZAR0.14 FOR EACH         338,333
                                     CALL OPTION


d)   Aggregated information

     - Aggregated volume            PUT OPTIONS - 338,333
                                    CALL OPTIONS – 338,333

     - Price
                                    PUT OPTIONS - ZAR7.80PER OPTION
                                    CALL OPTIONS – ZAR0.14 PER OPTION




e)   Date of the transaction        08 August 2019


f)   Place of the transaction       Johannesburg



Number of shares                        338,333
Volume weighted average selling         N/A
    price
Total value of transaction              ZAR 2,351,066.48
Highest price                           N/A
Lowest price                            N/A
Nature of interest                      Direct beneficial
      Date and place of transaction              08 August 2019

3.2        Investec plc

      1      Details of the person discharging managerial responsibilities / person
             closely associated

      a)     Name
                                            Ciaran Whelan

      2      Reason for the notification

      a)     Position/status                PDMR


      b)     Initial notification           Initial notification
             /Amendment


      3      Details of the issuer, emission allowance market participant, auction
             platform, auctioneer or auction monitor

      a)     Name                           Investec plc


      b)     LEI                            2138007Z3U5GWDN3MY22


      4      Details of the transaction(s): section to be repeated for (i) each type of
             instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
             where transactions have been conducted


      a)     Description of the financial
             instrument, type of            Ordinary shares of GBP0.0002 each (INP Shares)
             instrument
                                            GB00B17BBQ50
             Identification code


      b)     Nature of the transaction      Unwinding of a zero premium collar entered into on
                                            05 September 2016 through the following:

                                            The buy back by Investec of the sold put options at
                                            a strike price of ZAR86.48 per share expiring on 5
                                            September 2019 and the sale by Investec of the
                                            bought call options at a strike price of ZAR120 per
                                            share expiring on 5 September 2019.


      c)     Price(s) and volume(s)
                                             Price(s)                 Volume(s)

                                             ZAR7.80 FOR EACH         61,257
                                             PUT OPTION
                                             ZAR0.14 FOR EACH         61,257
                                             CALL OPTION
     d)   Aggregated information

          - Aggregated volume            PUT OPTIONS – 61,257
                                         CALL OPTIONS – 61,257

          - Price
                                         PUT OPTIONS - ZAR7.80PER OPTION
                                         CALL OPTIONS – ZAR0.14 PER OPTION




     e)   Date of the transaction        08 August 2019


     f)   Place of the transaction       Johannesburg




     Number of shares                        61,257
     Volume weighted average selling         N/A
         price
     Total value of transaction              ZAR 469,343.62
     Highest price                           N/A
     Lowest price                            N/A
     Nature of interest                      Direct beneficial
     Date and place of transaction           08 August 2019



Clearance was obtained for the above dealings in securities.

Johannesburg and London
12 August 2019

Sponsor:
Investec Bank Limited

Date: 12/08/2019 05:45:00
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