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INVS
Investec Bank - RESULTS OF THE OFFER
INVESTEC BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004763/06)
Share code: INLP ISIN: ZAE000048393
("Investec Bank" or "the company")
RESULTS OF THE OFFER ("THE OFFER") IN RESPECT OF INVESTEC BANK NON-REDEEMABLE
NON-CUMULATIVE NON-PARTICIPATING PREFERENCE SHARES OF A PAR VALUE OF R0,01 EACH
("PREFERENCE SHARES")
Investec is pleased to announce that subscriptions for 31 308 482 preference
shares were received from 5 688 applicants in respect of the public offer of 5
million preference shares (6,26 times over-subscribed). The aggregate value of
subscriptions amounted to approximately R3,13 billion.
As a result of the overwhelming demand for the offer, and in order to treat all
applicants on an equitable basis and issue all applicants with the minimum
subscription amount, being 1 000 shares, the board of directors of Investec
Bank, with the approval of the relevant regulatory authorities, agreed to
increase the number of preference shares being offered from 5 million to 10
million preference shares.
Accordingly preference shares were allocated on the following basis:
Number of preference shares Number of preference shares allocated
subscribed for
1 000 - 4 400 1 000
4 401 and above 1 000 plus 22,65376% of subscriptions
in excess of 4 400
Fractions have been rounded down to the nearest whole number of preference
shares. Applications for less than 1 000 shares were disregarded.
In terms of the announcement dated Friday, 1 August 2003, Investec Bank raised
R500 million by way of a private placement with certain institutions.
Accordingly, Investec Bank will issue a total of 15 million preference shares,
raising R1,5 billion.
Application has been made to the JSE Securities Exchange South Africa for the
listing of these preference shares under the short name "Investec - P" in the
"Specialist Securities" - Preference Shares sector from the commencement of
business on Wednesday, 13 August 2003.
Preference shares will be allocated and issued to subscribers who applied for
dematerialised shares on Wednesday, 13 August 2003, against receipt of payment
from their CSDP or broker. Share certificates and refund cheques will be posted
to certificated shareholders on or about Wednesday, 13 August 2003.
Sandton
11 August 2003
Merchant bank
Investec Bank Limited
(Registration number 1969/004763/06)
Legal advisor
Jowell, Glyn & Marais Inc
(Registration number 1990/000849/21)
Lead sponsor
Nedbank Corporate
Joint sponsor
Investec Securities Limited
Member of the JSE
(Registration number 1972/008905/06)
Date: 11/08/2003 05:09:09 PM Produced by the JSE SENS Department
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