INL Notification Change of Auditors for FY2025
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Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL JSE share code: INPR JSE debt code: INLV NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949 ISIN: ZAE000063814 LEI: 213800CU7SM6O4UWOZ70 |
Investec plc Incorporated in England and Wales Registration number 03633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 LEI: 2138007Z3U5GWDN3MY22
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As part of the dual listed company structure, the boards of Investec plc and Investec Limited (together the "Board") notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure Guidance and Transparency Rules, and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.
Accordingly, we advise of the following:
INVESTEC LIMITED NOTIFICATION OF CHANGE OF AUDITOR IN TERMS OF PARAGRAPH 3.78 OF THE JSE LISTING REQUIREMENTS AND PARAGRAPH 6.25 OF THE JSE DEBT LISTINGS REQUIREMENTS
The Board of Investec Limited and the Audit Committee wish to inform shareholders that, following a second comprehensive tender process, Deloitte Incorporated (Deloitte Inc.) has been nominated as the second of their joint external auditors, following the conclusion of a competitive tender process led by the Company's Audit Committee, for the reporting period ending 31 March 2025 in compliance with the Independent Regulatory Board for Auditors' rule pertaining to mandatory audit firm rotation.
The appointment of the firm and the designated audit partner is subject to regulatory approval from the South African Prudential Authority (PA) and accordingly further announcements in this regard, including the firm being replaced will be made once the regulatory approval process has been concluded.
In accordance with section 61 of the Banks Act No. 94 of 1990, section 90 of the South African Companies Act No. 71 of 2008, paragraph 3.86 of the JSE Listings Requirements as well as paragraph 7.3(e) of the JSE Debt Listings Requirements, the appointment of Deloitte Inc. will be recommended to the ordinary shareholders at the annual general meeting to be held in August 2024 and will subsequently be submitted to the PA for regulatory approval.
A formal transition process will commence from 01 April 2023 whereby the proposed firm will observe the full audit cycle performed by the incumbent joint external auditors.
INVESTEC PLC NOTIFICATION OF CHANGE OF AUDITOR
The Board of Investec plc and the Audit Committee wish to inform shareholders that, following a comprehensive tender process, Deloitte LLP has been nominated as its new external auditor for the reporting period ending 31 March 2025, following the conclusion of a competitive tender process led by the Company's Audit Committee.
The appointment will be recommended for approval to the ordinary shareholders at the annual general meeting to be held in August 2024. The tender process has been carried out in line with Competition and Markets Authority regulations, applicable EU requirements and Financial Reporting Council guidance and considered both large and challenger audit firms.
It is proposed that the incumbent auditors EY LLP (EY) will continue in their role for the reporting period ending 31 March 2024. A formal transition process will commence from 01 April 2023 whereby the appointed firm will observe the full audit cycle performed by the incumbent auditors.
Johannesburg
20 March 2023
Sponsor
Investec Bank Limited
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