| Mon 14 Feb 2005, 18:00 | | Investec - Results Of The Offer In Respect Of Inve |
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Investec - Results Of The Offer In Respect Of Investec Limited Preference Shares
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/002833/06)
Share code: INL
ISIN code: ZAE000040531
(`Investec` or `the company`)
RESULTS OF THE OFFER (`THE OFFER`) IN RESPECT OF INVESTEC LIMITED 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 39,974,641 preference
shares were received from 6,405 applicants in respect of the public offer of
5,000,000 preference shares (6.99 times over-subscribed). The aggregate value of
subscriptions amounted to approximately R 4.177 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 preference shares, the board of directors of
Investec agreed to increase the number of preference shares being offered from
5,000,000 to 10,000,000 preference shares. Accordingly preference shares were
allocated on the following basis:
Number of preference shares Number of preference shares
allocated
subscribed for
1,000 1,000
1,001 and above 1,000 plus 10.709% of the excess
above 1,000
Fractions have been rounded to the nearest whole number of preference shares.
Applications for less than 1,000 shares were disregarded.
Investec raised approximately R 1.3 billion by way of a private placement of
12,182,000 preference shares.
Accordingly, Investec will issue a total of 22,182,000 preference shares,
raising approximately R 2.3 billion.
Application has been made to the JSE Securities Exchange South Africa for the
listing of these preference shares under the short name `INVLTD PREF` in the
`Specialist Securities - Preference Shares` (ISIN:ZAE000063814) sector from the
commencement of business on Wednesday, 16 February 2005.
Preference shares will be allocated and issued to subscribers who applied for
dematerialised shares on Wednesday, 16 February 2005, against receipt of payment
from their CSDP or broker. Share certificates and refund cheques will be posted
to certificated shareholders on or about Wednesday, 16 February 2005.
Sandton
14 February 2005
Investment Bank and Joint Sponsor
Investec Bank Limited
Lead sponsor
Ernst & Young Sponsors (Pty) Ltd
Legal advisor
Jowell, Glyn & Marais Inc
