Rule 8.1- Investec Limited
Investec PLC
04 June 2007
Investec Limited Investec plc
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06 Registration number 3633621
JSE share code: INL JSE share code: INP
ISIN: ZAE000081949 ISIN: GB00B17BBQ50
Disclosure in accordance with Rule 8.1 of the UK City Code on Takeovers and
Mergers (the 'City Code')
As part of the dual listed company ('DLC') structure, disclosures made pursuant
to requirements applicable to the London Stock Exchange or the JSE Limited
are released on both exchanges.
We therefore advise of the following in accordance with Rule 8.1 of the City Code:
FORM 8.1
DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES
FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS
(Rules 8.1(a) and (b)(i) of the City Code on Takeovers and Mergers)
1. KEY INFORMATION
+-----------------------------------+-----------------------------------------------------+
|Name of person dealing (Note 1) |INVESTEC PLC (DEALINGS BY INVESTEC SECURITIES LTD) |
+-----------------------------------+-----------------------------------------------------+
|Company dealt in |INVESTEC LTD |
+-----------------------------------+-----------------------------------------------------+
|Class of relevant security to which|ORDINARY SHARES ZAR0.0002 |
|the dealings being disclosed relate| |
|(Note 2) | |
| | |
+-----------------------------------+-----------------------------------------------------+
|Date of dealing |1 JUNE 2007 |
| | |
+-----------------------------------+-----------------------------------------------------+
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE
(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)
+----------------------------------+---------------------------+---------------------------+
| | Long | Short |
| | | |
| | | |
+----------------------------------+-------------+-------------+-------------+-------------+
| |Number |(%) |Number |(%) |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(1) Relevant securities |36,049,667 |9.53% | | |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(2) Derivatives (other than | | | | |
|options) | | | | |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(3) Options and agreements to |2,135,300 |0.98% |4,646,194 |2.13% |
|purchase/sell | | | | |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|Total |38,184,967 |10.09% |4,646,194 |2.13% |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)
+----------------------------------+---------------------------+---------------------------+
|Class of relevant security: | Long | Short |
| | | |
| INVESTEC LTD ORD GBP0.0002 | | |
+----------------------------------+-------------+-------------+-------------+-------------+
| |Number |(%) |Number |(%) |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(1) Relevant securities |20,456,212 |9.37% |557,934 |0.25% |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(2) Derivatives (other than | | | | |
|options) | | | | |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|(3) Options and agreements to |165,800 |0.07% |146,700 |0.07% |
|purchase/sell | | | | |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
|Total |20,622,012 |9.44% |704,634 |32% |
| | | | | |
| | | | | |
+----------------------------------+-------------+-------------+-------------+-------------+
(c) Rights to subscribe (Note 3)
+-----------------------------------+-----------------------------------------------------+
|Class of relevant security: |Details |
| | |
|Ordinary shares ZAE0.0002 | |
+-----------------------------------+-----------------------------------------------------+
|123,430 |Staff share options |
| | |
+-----------------------------------+-----------------------------------------------------+
3. DEALINGS (Note 4)
(a) Purchases and sales
+-----------------------------+----------------------------+------------------------------+
|Purchase/sale |Number of securities |Price per unit (Note 5) |
| | | |
| | | |
+-----------------------------+----------------------------+------------------------------+
| | | |
| | | |
|INVESTEC SECURITIES LTD | | |
| | | |
|Purchase |500 |92.95Rand |
| | | |
|Purchase |3,100 |93.00Rand |
| | | |
|Purchase |1,000 |93.10Rand |
| | | |
|Purchase |3,000 |93.20Rand |
| | | |
|Purchase |1,000 |93.25Rand |
| | | |
|Purchase |78 |94.60Rand |
| | | |
|Purchase |35 |94.60Rand |
| | | |
|Purchase |500 |94.60Rand |
| | | |
|Purchase |500 |94.80Rand |
| | | |
|Purchase |4,000 |95.30Rand |
| | | |
| | | |
| | | |
|Sale |500 |92.95Rand |
| | | |
|Sale |600 |94.30Rand |
| | | |
|Sale |2,000 |94.40Rand |
| | | |
|Sale |87 |94.50Rand |
| | | |
|Sale |564 |94.70Rand |
| | | |
|Sale |600 |94.79Rand |
| | | |
|Sale |1,344 |94.80Rand |
| | | |
|Sale |564 |94.99Rand |
| | | |
|Sale |1,656 |95.20Rand |
| | | |
|Sale |3,000 |95.25Rand |
| | | |
|Sale |6,700 |95.45Rand |
| | | |
|Sale |2,000 |95.45Rand |
| | | |
|Sale |700 |95.50Rand |
| | | |
|Sale |100 |95.79Rand |
| | | |
| | | |
| | | |
| | | |
+-----------------------------+----------------------------+------------------------------+
(b) Derivatives transactions (other than options)
+----------------+-------------------+---------------------------+------------------------+
|Product name, |Long/short (Note 6)|Number of securities (Note |Price per unit (Note 5) |
| | |7) | |
|e.g. CFD | | | |
+----------------+-------------------+---------------------------+------------------------+
| | | | |
| | | | |
| | | | |
+----------------+-------------------+---------------------------+------------------------+
(c) Options transactions in respect of existing securities
(i) Writing, selling, purchasing or varying
+---------------+-------------+----------------+--------+-----------+--------+-------------+
|Product name, |Writing, |Number of |Exercise|Type, e.g. |Expiry |Option money |
| |selling, |securities to | |American, | | |
|e.g. call |purchasing, |which the option|price |European |date |paid/received|
|option |varying etc. |relates (Note 7)| |etc. | |per unit |
| | | | | | |(Note 5) |
| | | | | | | |
+---------------+-------------+----------------+--------+-----------+--------+-------------+
| | | | | | | |
+---------------+-------------+----------------+--------+-----------+--------+-------------+
(ii) Exercising
+-----------------------------+----------------------------+------------------------------+
|Product name, e.g. call |Number of securities |Exercise price per unit (Note |
|option | |5) |
+-----------------------------+----------------------------+------------------------------+
| | | |
| | | |
| | | |
+-----------------------------+----------------------------+------------------------------+
(d) Other dealings (including new securities) (Note 4)
+-----------------------------+----------------------------+------------------------------+
|Nature of transaction (Note |Details |Price per unit (if applicable)|
|8) | |(Note 5) |
| | | |
| | | |
+-----------------------------+----------------------------+------------------------------+
| | | |
| | | |
| | | |
+-----------------------------+----------------------------+------------------------------+
4. OTHER INFORMATION
Agreements, arrangements or understandings relating to options or derivatives
+----------------------------------------------------------------------------------------+
|Full details of any agreement, arrangement or understanding between the person |
|disclosing and any other person relating to the voting rights of any relevant securities|
|under any option referred to on this form or relating to the voting rights or future |
|acquisition or disposal of any relevant securities to which any derivative referred to |
|on this form is referenced. If none, this should be stated. |
+----------------------------------------------------------------------------------------+
| |
| |
| |
| |
| |
+----------------------------------------------------------------------------------------+
Is a Supplemental Form 8 attached? (Note 9) YES
+--------------------------------------------------+---------------------------------------+
|Date of disclosure |04/06/2007 |
| | |
+--------------------------------------------------+---------------------------------------+
|Contact name |DAVID BURFOOT |
| | |
+--------------------------------------------------+---------------------------------------+
|Telephone number |020 7597 4394 |
| | |
+--------------------------------------------------+---------------------------------------+
|Name of offeree/offeror with which associated |INVESTEC PLC |
+--------------------------------------------------+---------------------------------------+
|Specify category and nature of associate status |OFFEROR |
|(Note 10) | |
| | |
+--------------------------------------------------+---------------------------------------+
Notes
The Notes on Form 8.1 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk
SUPPLEMENTAL FORM 8
DETAILS OF OPEN POSITIONS
(This form should be attached to Form 8.1, Form 8.1(b)(ii) or Form 8.3, as
appropriate)
OPEN POSITIONS (Note 1)
+---------------+------------+----------------+------------+-----------+-----------------+
|Product name, |Written or |Number of |Exercise |Type, e.g. |Expiry date |
| |purchased |securities to |price (Note |American, | |
|e.g. call | |which the option|2) |European | |
|option | |or derivative | |etc. | |
| | |relates | | | |
| | | | | | |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Option |Purchased |750,000 |66.00Rand |European |21/08/52007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Option |Purchased |750,000 |82.00Rand |European |15/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Option |Written |750,000 |66.00Rand |European |15/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Call Option |Written |1,250,000 |84.00Rand |European |21/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Call Option |Written |500,000 |94.00Rand |European |21/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Call Option |Purchased |500,000 |84.00Rand |European |21/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Options |Purchased |229,900 |78.30Rand |American |21/06/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Call Options |Purchased |135,300 |95.40Rand |American |21/06/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Options |Purchased |135,300 |95.40Rand |American |21/06/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Options |Purchased |750,000 |66.00Rand |European |15/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Put Options |Written |750,000 |82.00Rand |European |15/08/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Call Options |Written |52,294 |00.01Rand |European |16/09/2011 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Futures |Written |73,300 | |European |20/09/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
|Futures |Written |155,400 | |European |21/06/2007 |
+---------------+------------+----------------+------------+-----------+-----------------+
Notes
1. Where there are open option positions or open derivative positions (except
for CFDs), full details should be given. Full details of any existing agreements
to purchase or to sell should also be given on this form.
2. For all prices and other monetary amounts, the currency must be stated.
For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk
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