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Investec PLC — Remuneration Information 2018
Jun 1, 2018
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Remuneration Information
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RNS Number : 0850Q
Investec PLC
01 June 2018
| 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 |
Investec plc Incorporated in England and Wales Registration number 3633621 LSE share code: INVP JSE share code: INP ISIN: GB00B17BBQ50 |
As part of the dual listed company structure, Investec plc and Investec Limited (together "Investec") notify both the London and Johannesburg Stock Exchanges of those interests (and changes to those interests) of (i) directors of both entities and the respective company secretaries, (ii) persons discharging managerial responsibilities (PDMRs) across the group, and (iii) in certain instances the directors of major subsidiaries of Investec Limited, in the securities of Investec plc and Investec Limited which are required to be disclosed under Article 19 of the Market Abuse Regulation (Regulation 596/2014), the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements.
On 31 May 2018, the Remuneration Committee of Investec met and agreed the awards of conditional shares to Investec staff. Accordingly, we advise of the following transactions in shares:
TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC PLC ORDINARY SHARES")
1. Interests in Investec plc Ordinary Shares
1.1 Award of forfeitable shares to S Koseff, B Kantor and GR Burger (together the "Executive Directors")
On 31 May 2018 and pursuant to the Executive Directors' remuneration policy approved by the shareholders, Investec made the following forfeitable share award (being the upfront portion of the Executive Directors' short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These forfeitable share awards vest immediately on award and are subject to a twelve month retention period.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff and Bernard Kantor
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 108,564 forfeitable shares for nil consideration to each of Stephen Koseff and Bernard Kantor
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 108,564 to each of Stephen Koseff and Bernard Kantor |
d)
Aggregated information
- Aggregated volume
- Price
108,564 each
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Glynn Burger
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 94,403 forfeitable shares for nil consideration
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 94,403 |
d)
Aggregated information
- Aggregated volume
- Price
94,403
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
Disposal of shares by an executive director
The forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Bernard Kantor and Stephen Koseff disposed of the following number of forfeitable shares on 31 May 2018:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Bernard Kantor
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 48,952 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP5.56 | 48,952 |
d)
Aggregated information
- Aggregated volume
- Price
48,952
GBP272,451.75
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
| Number of shares | 48,952 |
| Volume weighted average selling price | GBP5.56 |
| Total value of transaction | GBP272,451.75 |
| Highest price | GBP5.61 |
| Lowest price | GBP5.51 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, London |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff
2
Reason for the notification
a)
Position/status
Executive Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 140,000 ordinary shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| ZAR93.58 | 140,000 |
d)
Aggregated information
- Aggregated volume
- Price
140,000
ZAR13,102,184.00
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
Johannesburg
| Number of shares | 140,000 |
| Volume weighted average selling price | ZAR93.58 |
| Total value of transaction | ZAR13,102,184.00 |
| Highest price | ZAR93.65 |
| Lowest price | ZAR93.30 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, Johannesburg |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff
2
Reason for the notification
a)
Position/status
Executive Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 48,000 ordinary shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| ZAR93.95 | 48,000 |
d)
Aggregated information
- Aggregated volume
- Price
48,000
ZAR4,509,609.60
e)
Date of the transaction
01 June 2018
f)
Place of the transaction
Johannesburg
| Number of shares | 48,000 |
| Volume weighted average selling price | ZAR93.95 |
| Total value of transaction | ZAR4,509,609.60 |
| Highest price | ZAR94.10 |
| Lowest price | ZAR93.80 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, Johannesburg |
1.2 Award of conditional shares to S Koseff, B Kantor and GR Burger
On 31 May 2018 and pursuant to the Executive Directors' remuneration policy approved by the shareholders, Investec made the following conditional share award (being the deferred portion of the Executive Directors' short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff and Bernard Kantor
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 183,404 forfeitable shares for nil consideration to each of Stephen Koseff and Bernard Kantor. These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 183,404 to each of Stephen Koseff and Bernard Kantor |
d)
Aggregated information
- Aggregated volume
- Price
183,404 each
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Glynn Burger
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 159,482 forfeitable shares for nil consideration. These conditional share awards vest from years one to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 159,482 |
d)
Aggregated information
- Aggregated volume
- Price
159,482
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1.3 Award of fixed allowance shares to the Executive Directors
Pursuant to the Executive Directors' remuneration policy approved by shareholders, each of the Executive Directors are to receive a contractual annual fixed allowance of £1 million each, payable in shares (the "Fixed Allowance Shares") and accordingly, on 31 May 2018, Investec made the following share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Plan. These shares will vest on award and will be released in five equal tranches in each of the five years following the year of award.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff, Bernard Kantor and Glynn Burger
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of fixed allowance of 178,891 shares for nil consideration, to each of Stephen Koseff, Bernard Kantor and Glynn Burger, to vest on award and be released over a period of five years following the year of award
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 178,891 to each of Stephen Koseff, Bernard Kantor and Glynn Burger |
d)
Aggregated information
- Aggregated volume
- Price
178,891 each
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
Disposal of shares by an executive director
The fixed allowance forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Bernard Kantor disposed of the following number of forfeitable shares on 1 June 2018:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Bernard Kantor
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 80,663 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP451,107.10 | 80,663 |
d)
Aggregated information
- Aggregated volume
- Price
80,663
GBP451,107.10
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1.4 Award of conditional shares to the Executive Directors
Pursuant to the Executive Directors' remuneration policy approved by shareholders, new long-term Incentive awards of conditional shares have been made to the Executives, as set out below. These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.
In accordance with the Plan rules, the awards are at nil cost and will vest in seven tranches following the year of award.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Koseff and Bernard Kantor
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 264,759 conditional shares to each of Stephen Koseff and Bernard Kantor for nil consideration to vest in seven tranches from 31 May 2019 to 31 May 2025. These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 264,759 to each of Stephen Koseff and Bernard Kantor. |
d)
Aggregated information
- Aggregated volume
- Price
264,759 each
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Glynn Burger
2
Reason for the notification
a)
Position/status
Director
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 239,066 conditional shares for nil consideration to vest in seven tranches from 31 May 2019 to 31 May 2025 These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after each vesting date.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 239,066 |
d)
Aggregated information
- Aggregated volume
- Price
239,066
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1.5 Purchase of shares by an Executive Director
On 31 May 2018, Hendrik du Toit, purchased the following number of shares:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Hendrik du Toit
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market purchase of 106,000 ordinary shares
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP5.67 | 106,000 |
d)
Aggregated information
- Aggregated volume
- Price
106,000
GBP601,688.86
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:
| Number of shares | 106,000 |
| Volume weighted average selling price | GBP5.67 |
| Total value of transaction | GBP601,688.86 |
| Highest price | GBP5.67 |
| Lowest price | GBP5.67 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, London |
2. PDMRs and Company Secretary: interests in Investec plc Ordinary Shares
2.1 Award of forfeitable shares to PDMRs
On 31 May 2018, Investec made forfeitable share awards (being the upfront portion of short term incentive awards) in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These forfeitable share awards vest immediately on award and are subject to a twelve month retention period.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David van der Walt
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 68,739 forfeitable shares for nil consideration
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 68,739 |
d)
Aggregated information
- Aggregated volume
- Price
68,739
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Ciaran Whelan
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 78,891 forfeitable shares for nil consideration
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 78,891 |
d)
Aggregated information
- Aggregated volume
- Price
78,891
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Marc Kahn
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 37,952 forfeitable shares for nil consideration
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 37,952 |
d)
Aggregated information
- Aggregated volume
- Price
37,952
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
1.6 Disposal of shares by a PDMR
The forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, David van der Walt, Marc Kahn and Ciaran Whelan disposed of the following number of forfeitable shares on 31 May 2018:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David van der Walt
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 32,373 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP5.56 | 32,373 |
d)
Aggregated information
- Aggregated volume
- Price
32,373
GBP180,178.15
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:
| Number of shares | 32,373 |
| Volume weighted average selling price | GBP5.56 |
| Total value of transaction | GBP180,178.15 |
| Highest price | GBP5.61 |
| Lowest price | GBP5.51 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, London |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Marc Kahn
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 14,451 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP5.56 | 14,451 |
d)
Aggregated information
- Aggregated volume
- Price
14,451
GBP80,429.82
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:
| Number of shares | 14,451 |
| Volume weighted average selling price | GBP5.56 |
| Total value of transaction | GBP80,429.82 |
| Highest price | GBP5.61 |
| Lowest price | GBP5.51 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, London |
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Ciaran Whelan
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
On market sale of 37,154 ordinary shares in order to settle a tax liability related to prior year share awards which have now vested.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| GBP5.56 | 37,154 |
d)
Aggregated information
- Aggregated volume
- Price
37,154
GBP206,787.72
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements we disclose the following additional information:
| Number of shares | 37,154 |
| Volume weighted average selling price | GBP5.56 |
| Total value of transaction | GBP206,787.72 |
| Highest price | GBP5.61 |
| Lowest price | GBP5.51 |
| Nature of interest | Direct beneficial |
| Date and place of transaction | 31 May 2018, London |
2.2 Award of conditional shares to PDMRs
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec 1 Limited share incentive plan. These conditional share awards vest in three equal tranches in the third, fourth and fifth years from the year of award:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Elliott
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 125,000 conditional shares for nil consideration to vest in three equal tranches on the third, fourth and fifth years from the date of award.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally between years three to seven from award date. The awards are subject to a further twelve month retention period after vesting.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David van der Walt
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 125,000 conditional shares for nil consideration which vest equally in years three to seven and are subject to a twelve month retention period
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally in years two and half, three and a half and year five from date of award and are subject to a further twelve month retention period after vesting.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Ciaran Whelan
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 125,000 conditional shares for nil consideration which vest equally in years two , three and a half and year five from date of award and are subject to a further twelve month retention period after vesting
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest equally in years two and half, three and a half and year four and a half from date of award and are subject to a further twelve month retention period after vesting.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Marc Kahn
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 75,000 conditional shares for nil consideration which vest equally in years two, three and year four from date of award and are subject to a further twelve month retention period after vesting.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 75,000 |
d)
Aggregated information
- Aggregated volume
- Price
75,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
2.3 Award of conditional shares to PDMRs
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest from years three to seven from award date and are subject to a further twelve month retention period after vesting..
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David van der Walt
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 151,439 conditional shares for nil consideration which vest in years three to seven and are subject to a six month retention period after each vesting.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 151,439 |
d)
Aggregated information
- Aggregated volume
- Price
151,439
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest over five years and are subject to a further twelve month retention period after vesting.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Ciaran Whelan
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 77,558 conditional shares for nil consideration which vest over five years and are subject to a twelve month retention period after vesting.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 77,558 |
d)
Aggregated information
- Aggregated volume
- Price
77,558
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec plc Executive Incentive Plan 2013 (the "Plan"). These conditional share awards vest over three years and are subject to a further twelve month retention period after vesting.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Marc Kahn
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec plc
b)
LEI
2138007Z3U5GWDN3MY22
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of GBP0.0002 each
GB00B17BBQ50
b)
Nature of the transaction
Award of 27,083 conditional shares for nil consideration which vest over three years and are subject to a further twelve month retention period after vesting.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 27,083 |
d)
Aggregated information
- Aggregated volume
- Price
27,083
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
London
2.5 Award of forfeitable shares in Investec plc ordinary shares to Company Secretary
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise of the following changes to attributable interests in Investec plc by the Company Secretary:
On 31 May 2018, Investec made forfeitable share awards in respect of ordinary shares in the capital of Investec plc for nil consideration pursuant to the Investec 1 Limited share incentive plan. These forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:
| Company Secretary: | Number of forfeitable shares: |
| David Miller | 20,000 |
3. TRANSACTIONS IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH (the "INVESTEC LIMITED ORDINARY SHARES")
3.1 Award of conditional shares in Investec Limited ordinary shares to PDMRs
On 31 May 2018, Investec made conditional share awards in respect of ordinary shares in the capital of Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan. These conditional share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Wainwright
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec Limited
b)
LEI
N/A
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of ZAR0.0002 each
ZAE000081949
b)
Nature of the transaction
Award of 125,000 conditional shares for nil consideration to vest in three equal tranches in the third, fourth and fifth years from the date of award.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
Johannesburg
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Nishlan Samujh
2
Reason for the notification
a)
Position/status
PDMR
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Investec Limited
b)
LEI
N/A
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of ZAR0.0002 each
ZAE000081949
b)
Nature of the transaction
Award of 75,000 conditional shares for nil consideration to vest in three equal tranches in the third, fourth and fifth years from the date of award.
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Nil | 75,000 |
d)
Aggregated information
- Aggregated volume
- Price
75,000
Nil
e)
Date of the transaction
31 May 2018
f)
Place of the transaction
Johannesburg
3.2 Award of forfeitable shares in Investec Limited ordinary shares to Company Secretary
In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, we advise of the following changes to attributable interests in Investec Limited by the Company Secretary:
On 31 May 2018, Investec made forfeitable share awards in respect of ordinary shares in the capital of Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan. These forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the date of award:
| Company Secretary: | Number of forfeitable shares: |
| Niki van Wyk | 20,000 |
01 June 2018
Sponsor:
Investec Bank Limited
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END
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