| Mon 31 Jul 2006, 17:30 | | Investec plc - Results of the offer for subscripti |
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INP
INP
Investec plc - Results of the offer for subscription
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Investec plc
(Incorporated in England and Wales)
(Registration number 3633621)
Ordinary share code: INP
ISIN: GB0031773103
Preference share code: INPP
ISIN: GB00B19RX541
("Investec plc")
RESULTS OF THE OFFER FOR SUBSCRIPTION (the "Offer") IN RESPECT OF INVESTEC PLC
NON-REDEEMABLE, NON-CUMULATIVE, NON-PARTICIPATING PREFERENCE SHARES OF A PAR
VALUE OF GBP0,01 EACH ("perpetual preference shares")
Investec plc is pleased to announce that valid applications to subscribe for
perpetual preference shares with an aggregate value of ZAR1,035,569,000 were
received for the Offer.
The board of directors of Investec plc has agreed to increase the amount of
permanent capital to be raised through the issue of the perpetual preference
shares and to accept all valid applications and accordingly Investec plc will
issue 9,381,149 perpetual preference shares.
The pricing and allotment and issue of the perpetual preference shares are based
on the exchange rate of ZAR12.8438/GBP1, being the average exchange rate
obtained on the closing date of the offer and a coupon rate of 5.50% (the base
rate of the Bank of England from time to time as published by the Bank of
England which on the closing date of the offer was 4.50%, plus 1.00%).
The details of the offer are listed below:
Deemed value for dividend purposes GBP10.00
Coupon rate 5.50% (the base rate plus 1%)
Initial dividend yield 6.40%
Issue price per perpetual preference share ZAR110.38
Minimum Rand value of subscription per
subscriber acting as principal ZAR120 000
Number of perpetual preference shares
issued to a subscriber based on the
minimum Rand value 1 087
Cash refund based on the minimum
Rand value subscribed for ZAR16.94
Total number of perpetual
preference shares issued 9,381,149
Fractions of perpetual preference shares will not be issued. Subscribers will
receive a cash refund for any fraction that arose.
Application has been made to the JSE Limited for the listing of the 9,381,149
perpetual preference shares under the short name "INV PREF" and alpha code
"INPP" in the "Specialist Securities - Preference Shares" sector from the
commencement of business on Thursday, 3 August 2006.
Perpetual preference shares will be allocated and issued to subscribers who
applied for dematerialised shares on Thursday, 3 August 2006, against receipt of
payment from their CSDP or broker. Share certificates and refund cheques will
be posted to certificated shareholders on or about Thursday, 3 August 2006.
Sandton
31 July 2006
Investment bank and joint sponsor Lead sponsor
Investec Bank Limited Merrill Lynch SA
Legal adviser in the UK Legal adviser in South Africa
Linklaters Jowell Glyn & Marais Inc.
This announcement is not for distribution, directly or indirectly, in or into
the United States (including its territories and dependencies, any State of the
United States and the District of Columbia), Australia, Canada or Japan. These
materials do not constitute or form a part of any offer or solicitation to
purchase or subscribe for securities in the United States. The perpetual
preference shares mentioned herein have not been, and will not be, registered
under the United States Securities Act of 1933 (the "Securities Act").
The perpetual preference shares may not be offered or sold within the United
States except pursuant to an exemption from the registration requirements of the
Securities Act. There will be no public offer of securities in the United
States.
No prospectus has been published in respect of the perpetual preference shares
in any Relevant Member State and, save for certain exceptions, the perpetual
preference shares may not be offered or sold to the public in any Relevant
Member State.
Date: 31/07/2006 05:30:19 PM Produced by the JSE SENS Department
