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Investec Bank -
Investec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/004763/06)
Share code: INLP ISIN ZAE0000483933
("Investec Bank")
PRIVATE PLACING OF 5 000 000 NON-REDEEMABLE NON-CUMULATIVE NON-PARTICIPATING
PREFERENCE SHARES
1. INTRODUCTION AND BACKGROUND
Shareholders are referred to the Investec Bank announcement and pre-listing
statement dated 17 July 2003 regarding the public offering of 5 000 000 non-
redeemable non-cumulative non-participating preference shares with a par value
of R0,01 each ("the preference shares") in the share capital of Investec Bank at
an issue price of R100,00 per preference share ("the Offer for Subscription").
2. PRIVATE PLACING
In terms of the Offer for Subscription, the directors of Investec Bank
reserved the right to accept all subscriptions, in whole or in part, up to a
maximum of R1-billion. Investec Bank has concluded a private placing of 5 000
000 preference shares to seven institutional shareholders ("the private
placing") on the same terms and conditions as set out in the Offer for
Subscription, raising R500-million. The private placing preference shares will
be issued and listed on the JSE Securities Exchange South Africa at the same
time as the preference shares issued pursuant to the Offer for Subscription,
being 13 August 2003, provided that Investec Bank meets the requisite spread of
a minimum of 50 (fifty) public shareholders, excluding employees and associates.
3. EFFECT OF THE PRIVATE PLACING ON THE OFFER FOR SUBSCRIPTION
Accordingly, the Offer for Subscription will now be limited to 5 000 000
preference shares, and, if oversubscribed, allocations may be reduced on an
equitable basis, as determined by the directors in their sole discretion,
subject to the minimum subscription amount of R100 000,00 for a single addressee
acting as principal.
The Offer for Subscription that opened on Thursday, 17 July 2003 and closes
at 16:00 on Friday, 8 August 2003 remains unchanged in all other respects.
Sandton
1 August 2003
Merchant bank
Investec Bank Limited
(Registration number 1969/004763/06)
Legal adviser
Jowell, Glyn & Marais Inc
(Registration number 1990/000849/21)
Lead sponsor
Nedbank Corporate
Joint auditors
Ernst & Young
Chartered Accountants (SA)
(Registered Accountants and Auditors)
KPMG
Registered Chartered Accountants (SA)
(Registration number 1999/021543/21)
Joint sponsor
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
Date: 01/08/2003 03:12:15 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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