REG - Investec PLC - Result of Tender Offer

InvestecAnnouncement

29/02/2024 10:30

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RNS Number : 9612E  Investec PLC  29 February 2024

 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

ISIN: GB00B17BBQ50
 JSE debt code: INLV

                                              LEI: 2138007Z3U5GWDN3MY22
 NSX share code: IVD

 BSE share code: INVESTEC

 ISIN: ZAE000081949

 LEI: 213800CU7SM6O4UWOZ70

 

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.

29 February 2024

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

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 1 Write Down Capital Securities  XS1692045864  99.00 per cent.  £141,892,000

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                                              25 Bank Street

 33 Canada Square                                              Canary Wharf

 Canary Wharf                                                  London E14 5JP

 London E14 5LB

                                                               Telephone: +44 20 7134 2468

 Telephone: +44 20 7986 8969                                   Email: liability_management_EMEA@jpmorgan.com

 Email: liabilitymanagement.europe@citi.com                    Attention: EMEA Liability Management Group

 Attention: 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

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