31st Jul 2006 16:30
Investec PLC31 July 2006 NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN Investec plc(Incorporated in England and Wales)(Registration number 3633621)Ordinary share code: INPISIN: GB0031773103Preference share code: INPPISIN: GB00B19RX541("Investec plc") RESULTS OF THE OFFER FOR SUBSCRIPTION (the "Offer") IN RESPECT OF INVESTEC PLCNON-REDEEMABLE, NON-CUMULATIVE, NON-PARTICIPATING PREFERENCE SHARES OF A PARVALUE OF GBP0,01 EACH ("perpetual preference shares") Investec plc is pleased to announce that valid applications to subscribe forperpetual preference shares with an aggregate value of ZAR1,035,569,000 werereceived for the Offer. The board of directors of Investec plc has agreed to increase the amount ofpermanent capital to be raised through the issue of the perpetual preferenceshares and to accept all valid applications and accordingly Investec plc willissue 9,381,149 perpetual preference shares. The pricing and allotment and issue of the perpetual preference shares are basedon the exchange rate of ZAR12.8438/GBP1, being the average exchange rateobtained on the closing date of the offer and a coupon rate of 5.50% (the baserate of the Bank of England from time to time as published by the Bank ofEngland which on the closing date of the offer was 4.50%, plus 1.00%). The details of the offer are listed below: Deemed value for dividend purposes GBP10.00Coupon rate 5.50% (the base rate plus 1%)Initial dividend yield 6.40%Issue price per perpetual preference share ZAR110.38Minimum Rand value of subscription per subscriber acting as principal ZAR120,000Number of perpetual preference shares issuedto a subscriber based on the minimum Rand value 1,087Cash refund based on the minimum Rand valuesubscribed for ZAR16.94Total number of perpetual preference shares issued 9,381,149 Fractions of perpetual preference shares will not be issued. Subscribers will receive a cash refund for any fraction that arose. Application has been made to the JSE Limited for the listing of the 9,381,149perpetual preference shares under the short name "INV PREF" and alpha code"INPP" in the "Specialist Securities - Preference Shares" sector from thecommencement of business on Thursday, 3 August 2006. Perpetual preference shares will be allocated and issued to subscribers whoapplied for dematerialised shares on Thursday, 3 August 2006, against receipt ofpayment from their CSDP or broker. Share certificates and refund cheques willbe posted to certificated shareholders on or about Thursday, 3 August 2006. Sandton31 July 2006 Investment bank and joint sponsor Lead sponsorInvestec Bank Limited Merrill Lynch SA Legal adviser in the UK Legal adviser in South AfricaLinklaters Jowell Glyn & Marais Inc. This announcement is not for distribution, directly or indirectly, in or intothe United States (including its territories and dependencies, any State of theUnited States and the District of Columbia), Australia, Canada or Japan. Thesematerials do not constitute or form a part of any offer or solicitation topurchase or subscribe for securities in the United States. The perpetualpreference shares mentioned herein have not been, and will not be, registeredunder the United States Securities Act of 1933 (the "Securities Act"). The perpetual preference shares may not be offered or sold within the UnitedStates except pursuant to an exemption from the registration requirements of theSecurities Act. There will be no public offer of securities in the UnitedStates. No prospectus has been published in respect of the perpetual preference sharesin any Relevant Member State and, save for certain exceptions, the perpetualpreference shares may not be offered or sold to the public in any RelevantMember State. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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