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Investec PLC AGM Information 2021
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AGM Information
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National Storage Mechanism | Additional information 
RNS Number : 5560D
Investec PLC
30 June 2021
| Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL NSX share code: IVD BSE share code: INVESTEC ISIN: ZAE000081949 LEI: 213800CU7SM6O4UWOZ70 |
Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 LEI: 2138007Z3U5GWDN3MY22 |
(jointly the "Investec Group")
As part of the Dual Listed Company structure, Investec plc and Investec Limited 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 the Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings Requirements.
Accordingly we advise of the following:
NOTICE OF THE ANNUAL GENERAL MEETINGS OF INVESTEC PLC AND INVESTEC LIMITED; ISSUE OF THE INVESTEC GROUP'S 2021 ANNUAL REPORT AND CHANGE STATEMENT
i) The Annual General Meetings of Investec plc and Investec Limited will be held as a combined electronic and physical meeting. The Annual General Meeting of Investec plc will be held by webcast and at the registered office of Investec plc at 30 Gresham Street, London EC2V 7QP, at 11:00 (UK time) on Thursday, 05 August 2021. In accordance with the Dual Listed Company structure, the parallel Annual General Meeting of Investec Limited will be held by webcast and at the registered office of Investec Limited at 100 Grayston Drive, Sandown, Sandton, at 12:00 (South African time) on Thursday, 05 August 2021. The guide to joining the Annual General Meetings of Investec plc and Investec Limited electronically may be found in the respective Notices of the Annual General Meeting. The record date in order to be eligible to vote at the Annual General Meeting of Investec Limited is Friday, 30 July 2021, and accordingly the last day to trade is Tuesday, 27 July 2021.
ii) The Investec Group's 2021 Annual Report for the year ended 31 March 2021 and Notices of the Annual General Meeting of Investec plc and Investec Limited have been issued and distributed to shareholders today, 30 June 2021.
iii) The audited annual financial statements for the year ended 31 March 2021 for Investec plc and Investec Limited, on which the auditors expressed an unmodified audit opinion, contain the following change to the provisional consolidated results for the year ended 31 March 2021 as published on 21 May 2021:
The Investec Group has an interest in a material associate and included in the provisional consolidated results the Investec Group's share of profit attributable to ordinary shareholders and movements in other comprehensive income that was equity accounted for the year.
The Investec Group received the audited results of the material associate that was completed and signed on 02 June 2021, post 21 May 2021, and upon inspection of the statement of changes in equity of the associate identified a direct reduction of ordinary equity of £42.4 million. The reduction related to the accounting for acquisitions and disposals of certain subsidiary entities' equity shares to and from non-controlling shareholders at agreed values. As a result, the excess purchase consideration above consolidated net asset values of the related subsidiaries is recognised as a direct debit against equity.
As a result of these transactions, the Investec Group accounted for its share in the reduction in equity by reducing the value of the "Interests in associated undertakings" line in the combined consolidated balance sheet and by reducing equity, directly in the combined consolidated statement of changes in equity, by £20.1 million. The adjustment had no impact on the combined consolidated income statement, the combined consolidated statement of total comprehensive income, basic earnings per share and headline earnings per share. The adjustment was accounted for as an adjusting post balance sheet event. The impact of this adjustment is detailed in the balance sheet that follows.
iv) The unqualified Audit Reports by Ernst and Young Inc. and KPMG Inc. are available for inspection at the registered office of Investec Limited until the Annual General Meetings have commenced.
A copy of the following documents can be viewed on Investec's website at www.investec.com, and will shortly be available for inspection at the National Storage Mechanism (where required), https://data.fca.org.uk/#/nsm/nationalstoragemechanism
· Investec Group's 2021 Annual Report
· Investec plc's 2021 audited consolidated Annual Report
· Investec Limited's 2021 audited consolidated Annual Report
· Notices of the Annual General Meeting of Investec plc and Investec Limited, including the Proxy Form for Investec Limited
Enquiries:
David Miller Niki van Wyk
Company Secretary Company Secretary
Investec plc Investec Limited
+44 (0)207 597 4000 +27 11 286 7000
Johannesburg and London
Date: 30 June 2021
Sponsor:
Investec Bank Limited
| Balance sheet At 31 March |
Pre- adjustment 2021 | Adjustment | Post- adjustment 2021 | |||
| £'000 | ||||||
| Assets | ||||||
| Cash and balances at central banks | 3 517 100 | - | 3 517 100 | |||
| Loans and advances to banks | 2 699 317 | - | 2 699 317 | |||
| Non-sovereign and non-bank cash placements | 439 841 | - | 439 841 | |||
| Reverse repurchase agreements and cash collateral on securities borrowed | 3 575 713 | - | 3 575 713 | |||
| Sovereign debt securities | 3 711 623 | - | 3 711 623 | |||
| Bank debt securities | 1 121 730 | - | 1 121 730 | |||
| Other debt securities | 1 364 235 | - | 1 364 235 | |||
| Derivative financial instruments | 1 714 743 | - | 1 714 743 | |||
| Securities arising from trading activities | 1 024 671 | - | 1 024 671 | |||
| Investment portfolio | 909 050 | - | 909 050 | |||
| Loans and advances to customers | 26 041 087 | - | 26 041 087 | |||
| Own originated loans and advances to customers securitised | 401 912 | - | 401 912 | |||
| Other loans and advances | 102 135 | - | 102 135 | |||
| Other securitised assets | 140 087 | - | 140 087 | |||
| Interests in associated undertakings and joint venture holdings | 699 244 | (20 087) | 679 157 | |||
| Current taxation assets | 60 325 | - | 60 325 | |||
| Deferred taxation assets | 246 622 | - | 246 622 | |||
| Other assets | 2 165 438 | - | 2 165 438 | |||
| Property and equipment | 329 972 | - | 329 972 | |||
| Investment properties | 832 061 | - | 832 061 | |||
| Goodwill | 259 805 | - | 259 805 | |||
| Software | 12 574 | - | 12 574 | |||
| Other acquired intangible assets | 58 968 | - | 58 968 | |||
| Non-current assets classified as held for sale | 51 783 | - | 51 783 | |||
| 51 480 036 | (20 087) | 51 459 949 | ||||
| Other financial instruments at fair value through profit or loss in respect of liabilities to customers | 52 405 | - | 52 405 | |||
| 51 532 441 | (20 087) | 51 512 354 | ||||
| Liabilities | ||||||
| Deposits by banks | 2 403 712 | - | 2 403 712 | |||
| Derivative financial instruments | 2 190 487 | - | 2 190 487 | |||
| Other trading liabilities | 326 189 | - | 326 189 | |||
| Repurchase agreements and cash collateral on securities lent | 1 003 312 | - | 1 003 312 | |||
| Customer accounts (deposits) | 34 449 430 | - | 34 449 430 | |||
| Debt securities in issue | 1 892 319 | - | 1 892 319 | |||
| Liabilities arising on securitisation of own originated loans and advances | 160 646 | - | 160 646 | |||
| Liabilities arising on securitisation of other assets | 108 281 | - | 108 281 | |||
| Current taxation liabilities | 78 790 | - | 78 790 | |||
| Deferred taxation liabilities | 40 333 | - | 40 333 | |||
| Other liabilities | 2 013 003 | - | 2 013 003 | |||
| 44 666 502 | - | 44 666 502 | ||||
| Liabilities to customers under investment contracts | 49 798 | - | 49 798 | |||
| Insurance liabilities, including unit-linked liabilities | 2 607 | - | 2 607 | |||
| 44 718 907 | - | 44 718 907 | ||||
| Subordinated liabilities | 1 480 951 | - | 1 480 951 | |||
| 46 199 858 | - | 46 199 858 | ||||
| Equity | ||||||
| Ordinary share capital | 247 | - | 247 | |||
| Ordinary share premium | 1 517 852 | - | 1 517 852 | |||
| Treasury shares | (267 508) | - | (267 508) | |||
| Other reserves | (787 833) | (389) | (788 222) | |||
| Retained income | 3 792 326 | (19 698) | 3 772 628 | |||
| Ordinary shareholders' equity | 4 255 084 | (20 087) | 4 234 997 | |||
| Perpetual preference share capital and premium | 174 053 | - | 174 053 | |||
| Shareholders' equity excluding non-controlling interests | 4 429 137 | (20 087) | 4 409 050 | |||
| Other Additional Tier 1 securities in issue | 335 111 | - | 335 111 | |||
| Non-controlling interests | 568 335 | - | 568 335 | |||
| - Perpetual preferred securities issued by subsidiaries | 72 750 | - | 72 750 | |||
| - Non-controlling interests in partially held subsidiaries | 495 585 | - | 495 585 | |||
| Total equity | 5 332 583 | (20 087) | 5 312 496 | |||
| Total liabilities and equity | 51 532 441 | (20 087) | 51 512 354 |
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