| Tue 6 Nov 2007, 16:30 | | INL/INP - Investec Limited/Investec plc - Disposal |
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INL INP
INL INP
INL/INP - Investec Limited/Investec plc - Disposal of Growthpoint Properties
Limited linked units
Investec Limited
Incorporated in the Republic of South Africa
Registration number 1925/002833/06
JSE share code: INL
ISIN: ZAE000081949
Investec plc
Incorporated in England and Wales
Registration number 3633621
JSE share code: INP
ISIN: GB00B17BBQ50
DISPOSAL OF GROWTHPOINT PROPERTIES LIMITED LINKED UNITS
(jointly "Investec")
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 Disclosure, Transparency and
Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the
JSE Listing Requirements.
Further to the announcement on 30 May 2007 and the transaction becoming
unconditional as announced on 18 October 2007, Investec Bank Limited, a
subsidiary of Investec Limited, facilitated the disposal of 200 million
Growthpoint Properties Limited ("Growthpoint") linked units to the Public
Investment Corporation Limited, on behalf of the Government Employees Pension
Fund ("PIC"), at a cash consideration of 1700 cents per linked unit, on Friday
2 November 2007.
In terms of this transaction Investec disposed of 152,473,544 Growthpoint
linked units, representing its entire shareholding in Growthpoint, inter alia
monetising the proceeds on the disposal of the property administration and
property fund management businesses of Investec Property Group Limited.
There are no suspensive conditions to this transaction and the PIC will settle
the entire purchase consideration in cash on Friday 9 November 2007.
The effect on the earnings, net assets and tangible net assets of Investec as
a result of the transaction is not significant, as set out in the JSE Listing
Requirements.
The proceeds of the transaction will be used to enhance the capital structure
of Investec.
6 November 2007
Investment Bank and Sponsor:
Investec Bank Limited
Date: 06/11/2007 16:30:03 Produced by the JSE SENS Department.
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