Investec/ Peu/ Tiso - Fulfilment Of Conditions Precedent
Investec Limited
(Incorporated in RSA)
(Reg number 1925/002833/06)
JSE Share code: INL ISIN: ZAE000040531
("Investec")
Peu Investment Group (Pty) Limited
(Incorporated in RSA)
(Reg number 1996/03899/07)
("Peu")
TisoGroup (Pty) Limited
(Incorporated in RSA)
(Reg number 1999/10875/07)
("Tiso")
FULFILMENT OF CONDITIONS PRECEDENT AND IMPLEMENTATION OF THE SALE TO BLACK
ECONOMIC EMPOWERMENT PARTIES OF 25,1% IN TOTAL OF THE ISSUED SHARE CAPITAL OF
INVESTEC AND THE ISSUE OF 5 600 000 INVESTEC SHARES FOR CASH
Further to the announcement dated 15 May 2003 regarding the acquisition by Peu
and Tiso, together with a broad-based Entrepreneurship Development Trust ("the
Development Trust") and an Investec employee share trust ("the Employee Trust"),
of 25,1% in total of the issued share capital of Investec ("the transaction"),
Investec is pleased to announce that all of the outstanding conditions precedent
to the transaction have now been fulfiled.
The issue of the 5 600 000 Investec shares for cash at R90 per share pursuant to
the transaction has been completed and the new Investec shares listed on the JSE
Securities Exchange South Africa with effect from 27 November 2003.
Pursuant to the transaction, Peu, Tiso and the Development Trust now hold
approximately 6% each of the issued share capital of Investec, with the Employee
Trust holding the balance of the 25,1% of Investec that is directly held by
black controlled entities.
Sandton
12 December 2003
Financial adviser to Investec
Investec Corporate Finance
Financial adviser to Peu
Peu Capital (Pty) Limited
Financial adviser to Tiso
TisoCapital Advisers
Lead sponsor to Investec
Ernst & Young Sponsors (Pty) Limited
Joint sponsor to Investec
Investec Securities Limited
Legal advisers
Werksmans Inc.
Moss Morris Attorneys
Sonnenberg Hoffmann Galombik
Date: 15/12/2003 05:42:05 PM Supplied by www.sharenet.co.za
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