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Results Announcement
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
JSE hybrid code: INPR JSE share code: INP
JSE debt code: INLV ISIN: GB00B17BBQ50
NSX share code: IVD LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70
RESULTS ANNOUNCEMENT
Investec plc announces results of its Tender Offer for its £250,000,000 Fixed Rate Reset
Perpetual Additional Tier 1 Write Down Capital Securities
29 February 2024
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE
UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES
OR THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE US VIRGIN ISLANDS, GUAM,
AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS) OR IN OR INTO
OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS
UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT (SEE "OFFER AND DISTRIBUTION
RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM (AS DEFINED BELOW))
As part of the dual listed company structure, Investec plc and Investec Limited notify both the London
Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Listing
Rules of the United Kingdom Financial Conduct Authority and/or the JSE Listing Requirements.
Investec plc (the "Company") announces herein the results of its invitation to holders of its
£250,000,000 Fixed Rate Reset Perpetual Additional Tier 1 Write Down Capital Securities (ISIN:
XS1692045864) (the "Securities") to tender such Securities for purchase by the Company for cash
(the "Offer").
The Offer was made on the terms and subject to the conditions contained in a tender offer memorandum
dated 21 February 2024 (the "Tender Offer Memorandum") prepared by the Company, and was
subject to the offer restrictions set out in the Tender Offer Memorandum. Capitalised terms used in this
announcement but not defined have the meanings given to them in the Tender Offer Memorandum.
New Financing Condition
The Company confirms that the New Financing Condition was satisfied on 28 February 2024.
Results of the Offer
The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 28 February 2024. As at the
Expiration Deadline, £141,892,000 in aggregate principal amount of the Securities had been validly
tendered for purchase pursuant to the Offer.
The Company announces that it has decided to accept all valid tenders of Securities for purchase
pursuant to the Offer, with a Final Acceptance Amount equal to £141,892,000.
A summary of the results of the Offer appears below:
Description of the Securities ISIN Purchase Price Final Acceptance Amount
Fixed Rate Reset Perpetual Additional Tier XS1692045864 99.00 per cent. £141,892,000
1 Write Down Capital Securities
Settlement of the purchase of the relevant Securities pursuant to the Offer is expected to take place
on 1 March 2024, after which £108,108,000 in aggregate principal amount of the Securities will
remain outstanding.
Dealer Managers
Citigroup Global Markets Limited
J.P. Morgan Securities plc
Citigroup Centre
33 Canada Square 25 Bank Street
Canary Wharf Canary Wharf
London E14 5LB London E14 5JP
Telephone: +44 20 7986 8969
Email: liabilitymanagement.europe@citi.com Telephone: +44 20 7134 2468
Attention: Liability Management Group Email:
liability_management_EMEA@jpmorgan.com
Attention: EMEA Liability Management Group
Lloyds Bank Corporate Markets plc
10 Gresham Street
London EC2V 7AE
Telephone: +44 207 158 1726 / 3939
Email: lbcmliabilitymanagement@lloydsbanking.com
Attention: Liability Management
The Tender Agent
Kroll Issuer Services Limited
The Shard
32 London Bridge Street
London SE1 9SG
Attention: Owen Morris
Telephone: +44 20 7704 0880
Email: investec@is.kroll.com
Website: https://deals.is.kroll.com/investec
This announcement is released by Investec plc and contains information that qualified or may have
qualified as inside information for the purposes of Article 7 of Regulation (EU) 596/2014 ("MAR"), as it
forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act
2018, as amended ("UK MAR"), encompassing information relating to the Offer described above. For
the purposes of UK MAR and Article 2 of the binding technical standards published by the FCA in
relation to MAR as regards Commission Implementing Regulation (EU) 2016/1055, this announcement
is made by David Miller, Company Secretary at Investec plc.
DISCLAIMER: This announcement must be read in conjunction with the Tender Offer Memorandum.
No offer or invitation to acquire any securities is being made pursuant to this announcement. The
distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be
restricted by law. Persons into whose possession this announcement and/or the Tender Offer
Memorandum come(s) are required by each of the Company, the Dealer Managers and the Tender
Agent to inform themselves about, and to observe, any such restrictions.
Date: 29 February 2024
Sponsor: Investec Bank Limited
Date: 29-02-2024 12:30:00
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