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Notice of the AGMs of Investec plc and Investec Limited, Issue of the 2024 Annual Report and Change Statement
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
NOTICE OF THE ANNUAL GENERAL MEETINGS OF INVESTEC PLC AND INVESTEC LIMITED
ISSUE OF THE INVESTEC GROUP'S 2024 ANNUAL REPORT AND CHANGE STATEMENT
As part of the dual listed company structure, Investec plc and Investec Limited (together the "Investec
Group") 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 Financial
Conduct Authority (the "FCA") and/or the JSE Listings Requirements.
Accordingly we advise of the following:
i) The Annual General Meetings of Investec plc and Investec Limited will be held as a combined
electronic and physical meeting. The Annual General Meeting of Investec plc will be held by
webcast and at the registered office of Investec plc at 30 Gresham Street, London EC2V 7QP, at
11:00 (UK time) on Thursday, 08 August 2024. In accordance with the Dual Listed Company (DLC)
structure, the parallel Annual General Meeting of Investec Limited will be held by webcast and at
the registered office of Investec Limited at 100 Grayston Drive, Sandown, Sandton, at 12:00 (South
African time) on Thursday, 08 August 2024. The guide to joining the Annual General Meetings of
Investec plc and Investec Limited electronically may be found in the respective Notices of the
Annual General Meeting. The record date in order to be eligible to vote at the Annual General
Meeting of Investec Limited is Friday, 02 August 2024, and accordingly the last day to trade is
Tuesday, 30 July 2024.
ii) The Investec Group's 2024 Annual Report for the year ended 31 March 2024 and Notices of the
Annual General Meeting of Investec plc and Investec Limited have been issued and distributed to
shareholders today, 28 June 2024.
iii) The unqualified Audit Reports by Ernst and Young Inc. and PricewaterhouseCoopers Inc. are
available for inspection at the registered office of Investec Limited until the Annual General
Meetings have commenced.
iv) Shareholders are advised that there are modifications to the financial results for the year ended
31 March 2024 for Investec plc and Investec Limited, as published on 23 May 2024.
Unaudited Balance
At 31 March Audited Balance Sheet - Sheet - Published 23
£'000 Note Published 28 June 2024 May 2024 Difference
Assets
Cash and balances at central banks 6,279,088 6,279,088 -
Loans and advances to banks 1,063,745 1,063,745 -
Non-sovereign and non-bank cash placements 451,482 451,482 -
Reverse repurchase agreements and cash collateral on securities borrowed 4,381,520 4,381,520 -
Sovereign debt securities 4,943,147 4,943,147 -
Bank debt securities 1 596,436 647,951 (51,515)
Other debt securities 1,148,147 1,148,147 -
Derivative financial instruments 853,938 853,938 -
Securities arising from trading activities 1,596,260 1,596,260 -
Loans and advances to customers 30,645,313 30,645,313 -
Own originated loans and advances to customers securitised 269,034 269,034 -
Other loans and advances 117,513 117,513 -
Other securitised assets 2 66,704 139,143 (72,439)
Other financial instruments at fair value through profit or loss in respect
of liabilities to customers 154,738 154,738 -
Investment portfolio 807,030 807,030 -
Interests in associated undertakings and joint venture holdings 858,420 858,420 -
Current taxation assets 64,378 64,378 -
Deferred taxation assets 204,861 204,861 -
Other assets 1,672,582 1,672,582 -
Property and equipment 238,072 238,072 -
Investment properties 105,975 105,975 -
Goodwill 75,367 75,367 -
Software 9,707 9,707 -
Non-current assets classified as held for sale 22,270 22,270 -
-
56,625,727 56,749,681 (123,954)
- - -
56,625,727 56,625,727 -
Liabilities
Deposits by banks 3,446,776 3,446,776 -
Derivative financial instruments 1,069,119 1,069,119 -
Other trading liabilities 1,369,332 1,369,332 -
Repurchase agreements and cash collateral on securities lent 915,208 915,208 -
Customer accounts (deposits) 2 39,507,805 39,580,244 (72,439)
Debt securities in issue 1 1,541,194 1,553,344 (12,150)
Liabilities arising on securitisation of own originated loans and advances 208,571 208,571 -
Liabilities arising on securitisation of other assets 71,751 71,751 -
Current taxation liabilities 72,697 72,697 -
Deferred taxation liabilities 5,198 5,198 -
Other liabilities 1,816,139 1,816,139 -
Liabilities to customers under investment contracts 3 154,889 139,120 15,769
Insurance liabilities, including unit-linked liabilities 3 15,769 (15,769)
50,178,679 50,263,268 (84,589)
Subordinated liabilities 972,806 972,806 -
51,151,485 51,236,074 (84,589)
Equity
Ordinary share capital 247 247 -
Ordinary share premium 1,010,066 1,010,066 -
Treasury shares (604,994) (604,994) -
Other reserves (866,739) (866,739) -
Retained income 5,222,098 5,222,098 -
Ordinary shareholders' equity 4,760,678 4,760,678 -
Perpetual preference share capital and premium 127,136 127,136 -
Shareholders' equity excluding non-controlling interests 4,887,814 4,887,814 -
Other Additional Tier 1 securities in issue 1 586,103 625,468 (39,365)
Non-controlling interests 325 325 -
Total equity 5,474,242 5,513,607 (39,365)
Total liabilities and equity 56,625,727 56,749,681 (123,954)
Notes:
1. In the ordinary course of business, Investec Bank Limited purchases in the open market listed debt
instruments issued by Investec plc to support client trading activities. A position of £52 million was
identified that had to be eliminated at an Investec DLC level.
2. The Investec Group consolidates securitisation vehicles. The cash held by the vehicles was
separately accounted for in the Investec Group on consolidation as 'customer accounts (deposits)'
with the corresponding entry in 'other securitised assets'. The accounting treatment was revised
and an amount of £72 million was adjusted downwards on each line.
3. As part of a balance sheet simplification process, 'Insurance liabilities, including unit-linked
liabilities' of £16 million has been aggregated with 'Liabilities to customers under investment
contracts'.
A copy of the following documents can be viewed on Investec's website at www.investec.com, and will
shortly be available for inspection at the National Storage Mechanism (where
required), https://data.fca.org.uk/#/nsm/nationalstoragemechanism
- Investec Group's 2024 Annual Report
- Investec plc's 2024 audited consolidated Annual Report
- Investec Limited's 2024 audited consolidated Annual Report
- Notices of the Annual General Meeting of Investec plc and Investec Limited, including the Proxy
Form for Investec Limited
Investec Group's 2024 audited annual financial statements are also available on the JSE cloudlink at
https://senspdf.jse.co.za/documents/2024/jse/isse/INL/AFS2024.pdf
Enquiries:
David Miller Niki van Wyk
Company Secretary Company Secretary
Investec plc Investec Limited
+44 (0)207 597 4000 +27 11 286 7000
Johannesburg and London
Date: 28 June 2024
Sponsor:
Investec Bank Limited
Date: 28-06-2024 08:00:00
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