Odd-lot offer - Offer price
Investec PLC
18 November 2005
18 November 2005
INVESTEC PLC
ODD-LOT OFFER: FINALISATION OF OFFER PRICE
This announcement is not for release, publication or distribution, in whole or
in part, in or into the United States, Canada, Australia or Japan
1. BACKGROUND
On 20 October 2005 Investec Limited and Investec plc issued a circular to
members and announced details of an Odd-lot Offer whereby holders of less than
100 ordinary shares in either Investec Limited or Investec plc were given the
option to sell their holdings to Investec. It was further announced on 14
November 2005 that the resolutions necessary to implement the Odd-lot Offer were
duly passed.
2. OFFER PRICES
Under the terms of the Odd-lot Offer, Investec Limited Odd-lot Holders will have
their shares acquired at the Investec Limited Offer Price and Investec plc
Odd-lot Holders will have their shares acquired at the Investec plc Offer Price.
The Investec Limited Offer Price is R277.64 which represents a 5 per cent
premium to the volume weighted average price of Investec Limited Shares traded
on the JSE Limited ('JSE') over the five trading days prior to Friday,
18 November 2005.
The Investec plc Offer Price:
(i) in the case of Investec plc shares held on the United Kingdom share register
is £24.28 which represents a 5 per cent premium to the volume weighted
average price of Investec plc Shares on the London Stock Exchange
(as quoted by Bloomberg) over the five trading days prior to Friday,
18 November 2005; and
(ii) in the case of Investec plc Shares held on the South African branch
register is R284.71 which represents a 5 per cent premium to the volume
weighted average price of Investec plc Shares traded on the JSE over the
five trading days prior to Friday, 18 November 2005.
Investec Limited Odd-lot Holders and Investec plc Odd-lot Holders recorded on
the South African branch register will be paid in Rand and Investec plc Odd-lot
Holders recorded on the UK share register will be paid in Pounds Sterling.
Enquiries:
+--------------------------------------+--------------------------------------+
|Investec plc | |
|Ursula Munitich +44 207 597 5546 | |
| | |
+--------------------------------------+--------------------------------------+
|Merrill Lynch International +44 207 |Merrill Lynch South Africa +27 11 305 |
|996 1000 |5555 |
|Peter Tracey |Paris Aposporis |
|Andrew Fairclough | |
| | |
+--------------------------------------+--------------------------------------+
|Citigate Dewe Rogerson +44 207 638 | |
|9571 | |
|Sara Batchelor | |
+--------------------------------------+--------------------------------------+
Merrill Lynch is acting for Investec and no one else in connection with the
Odd-lot Offer and will not regard any other person (whether or not a recipient
of this announcement) as its client in relation to the Odd-lot Offer and will
not be responsible for providing the protections afforded to its clients nor for
giving advice in relation to the Odd-lot Offer or any transaction or arrangement
referred to, or information contained in this announcement.
The Odd-lot Offer is not being made, directly or indirectly, in or into the
United States, Canada, Australia or Japan or any other jurisdiction where to do
so would constitute a violation of the laws of such jurisdiction. Odd-lot
Holders may not tender Investec Shares into the Odd-lot Offer by any means from
within the United States, Canada, Australia or Japan or any other jurisdiction
where to do so would constitute a violation of the laws of such jurisdiction.
The Odd-lot Offer is not being made, directly or indirectly, by use of the mails
or by any means or instrumentality (including without limitation, facsimile
transmission, telephone and the internet) of interstate or foreign commerce, or
any facility of a national securities exchange, of the United States, Canada,
Australia or Japan. Accordingly, copies of this announcement or any accompanying
documents are, subject to certain exceptions, not being, directly or indirectly,
mailed or otherwise distributed, forwarded or transmitted in, into or from the
United States. Any persons receiving such documents (including, without
limitation, custodians, nominees and trustees) should observe these restrictions
and should not, subject to certain exceptions, mail or otherwise distribute,
forward or transmit them in, into or from the United States or any other
jurisdiction where to do so would constitute a violation of the laws of such
jurisdiction, or use such means, instrumentality or facility in connection with
the Odd-lot Offer, and so doing may render invalid any related purported
acceptance of the Odd-lot Offer. Any persons (including, without limitation,
custodians, nominees and trustees) who would or otherwise intend to, or may have
a contractual or other legal obligation to, forward this announcement or any
accompanying documents to the United States should seek appropriate advice
before taking any action.
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