INVESTEC BANK LIMITED - Investec Bank Limited Non-Redeemable, NonCumulative, Non-Participating Preference Shares General Buy Back Programme

Investec Bank Limited Non-Redeemable, NonCumulative, Non-Participating Preference Shares  General Buy Back Programme

Investec Bank Limited
Incorporated in the Republic of South Africa
Registration number 1969/004763/06
JSE Share Code: IBRP1
ISIN: ZAE000242525
Issuer Code: BIINLP
LEI No: 549300RH5FFHO48FXT69



INVESTEC BANK LIMITED NON-REDEEMABLE, NON-CUMULATIVE, NON-PARTICIPATING
PREFERENCE SHARES (“PREFERENCE SHARES”) GENERAL BUYBACK PROGRAMME


Shareholders are advised that the Company has, pursuant to a share buyback programme (“the
Programme”) announced by the Company on 25 September 2020, repurchased 530,071
preference shares, representing 3.43% of the issued preference share capital, In terms of the
Programme a further 1.57% preference share may be repurchased. The total percentage
remaining under the general authority approved by preference shareholders is 16.57%. The
preference share capital remaining in issue following these repurchases amounts to
R1,490,413,319.69.

The preference shares were repurchased for an aggregate value of R36,812,774.97.

 Number of                Highest price per        Lowest price per          Aggregate value (R)
 preference shares        preference               preference
 repurchased              share (R)                shares (R)

  530,071                   73.80                    63.00                    36,812,774.97



The repurchases were made in terms of the general authority granted by shareholders at the AGM
and were effected through the order book on the JSE trading system without any prior
understanding or arrangement between the Company and the counterparties. The repurchases
programme was put in place prior to the commencement of the Company’s closed period, in
accordance with the JSE Listings Requirements.

Application will be made to JSE to de-list the preference shares at which point they will immediately
be cancelled.

The impact of the repurchase of the preference shares on the financial information of the Company
is immaterial. The preference shares were repurchased from excess cash resources of the
Company; going forward, no preference share dividends will be payable on the repurchased
preference shares and interest earned on the cash utilised for the repurchase will be foregone.
OPINION OF THE BOARD OF THE COMPANY

The board of the Company has considered the effect of the repurchases and is of the opinion that:

•   The Company and the Company and its subsidiaries (“the Group”) will be able, in the ordinary
    course of business, to repay their debts for a period of 12 months after the date of this
    announcement;
•   the consolidated assets of the Company and the Group will be in excess of the consolidated
    liabilities of the Company and the Group for a period of 12 months after the date of this
    announcement;
•   the Company’s and the Group’s share capital and reserves will be adequate for the purposes
    of the business of the Company and the Group for a period of 12 months after the date of this
    announcement; and
•   the Company and the Group will have sufficient working capital for ordinary business purposes.


Johannesburg
17 February 2021

Sponsor
Investec Bank Limited

Date: 17-02-2021 02:34:00
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