Last checked at 29 May 2014 15:30
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 | Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 |
(together "Investec")
As part of the dual listed company structure, Investec plc and Investec Limited 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 the Disclosure and Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements.
Accordingly, we advise of the following changes to attributable interests in the ordinary shares of Investec plc and Investec Limited:
TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC PLC ORDINARY SHARES")
Award of forfeitable shares to the executive directors
On the 27 May 2014, Investec made forfeitable share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These forfeitable share awards vest as follows: 25% will vest immediately on award and are subject to a six month retention period, with the remaining forfeitable shares vesting in three equal tranches (each subject to a six month retention period) over a three year period from the date of award:
Executive Directors | Number of forfeitable shares |
Stephen Koseff | 305,427 |
Bernard Kantor | 305,427 |
Glynn Burger | 274,419 |
The forfeitable shares which vest immediately on award (25%) incur a tax liability. In order to settle this liability the executive directors disposed of the following number of forfeitable shares on 27 May 2014:
Dealings in the securities of Investec plc by a director - Mr Bernard Kantor Bottom of Form | |
Transaction notified in terms of: | DTR3.1.4R(1)(a) |
Security | Investec plc ordinary shares of GBP0.0002 each |
Nature of transaction | On market sale |
Number of shares | 36,057 |
Volume weighted average selling price | GBP 5.0461 |
Total value of transaction | GBP 181,947.01 |
Highest price | GBP 5.055 |
Lowest price | GBP 5.035 |
Nature of interest | Direct beneficial |
Date and place of transaction | 27 May 2014, London |
Dealings in the securities of Investec plc by a director - Mr Glynn Burger | |
Transaction notified in terms of: | DTR3.1.4R(1)(a) |
Security | Investec plc ordinary shares of GBP0.0002 each |
Nature of transaction | On market sale |
Number of shares | 31,028 |
Volume weighted average selling price | GBP 5.0372 |
Total value of transaction | GBP 156,294.92 |
Highest price | GBP 5.055 |
Lowest price | GBP 5.035 |
Nature of interest | Direct beneficial |
Date and place of transaction | 27 May 2014, London |
Following the above transactions, the executive directors' interests in the ordinary share capital of Investec plc is as follows:
Executive Directors | Aggregate holding after these transactions |
Stephen Koseff | 4,894,782 |
Bernard Kantor | 327,350 |
Glynn Burger | 2,645,526 |
Award of nil cost options in Investec plc ordinary shares
On the 27 May 2014, Investec made awards in respect of nil cost options in the capital of Investec plc for nil consideration pursuant to its Long Term Incentive Plan ("LTIP"). In terms of the LTIP plan rules, 75% of the options are exercisable on 27 May 2018 and the remaining 25% of the options are exercisable on 27 May 2019, on condition that the participant is still employed by Investec. The awards are in accordance with the determination of the Remuneration Committee and with the rules of the LTIP plan.
In accordance with Disclosure and Transparency Rules ("DTR") 3.1.4R (1) (a), Investec plc advises of the following changes to the interests in Investec shares by PDMRs
PDMR | NUMBER OF OPTIONS AWARDED |
Stephen Elliott | 175,000 |
David van der Walt | 175,000 |
Allen Zimbler | 100,000 |
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise of the following changes to attributable interests in Investec plc by the Company Secretary:
NUMBER OF OPTIONS AWARDED | |
David Miller | 25,000 |
TRANSACTIONS IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH (the "INVESTEC LIMITED ORDINARY SHARES")
Award of nil cost options in Investec Limited ordinary shares
On the 27 May 2014, Investec made awards in respect of nil cost options in the capital of Investec Limited for nil consideration pursuant to its Long Term Incentive Plan ("LTIP"). In terms of the LTIP plan rules, 75% of the options are exercisable on 27 May 2018 and the remaining 25% of the options are exercisable on 27 May 2019, on condition that the participant is still employed by Investec. The awards are in accordance with the determination of the Remuneration Committee and with the rules of the LTIP plan.
In accordance with Disclosure and Transparency Rules ("DTR") 3.1.4R (1) (a) Investec plc advises of the following transactions by PDMRs:
PDMR | NUMBER OF OPTIONS AWARDED |
Andrew Leith | 175,000 |
Richard Wainwright | 175,000 |
Raymond van Niekerk | 100,000 |
Johannesburg and London
29 May 2014
Sponsor:
Investec Bank Limited