Investec PLC — Remuneration Information 2018

Jun 4, 2018

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RNS Number : 2303Q

Investec PLC

04 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.

TRANSACTIONS BY A DIRECTOR IN INVESTEC PLC ORDINARY SHARES

Award of forfeitable shares

On 31 May 2018 and pursuant to the Executive Directors' remuneration policy approved by the shareholders, Investec made 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. 

The forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Glynn Burger disposed of the following number of forfeitable shares on 1 June 2018:

Disposal of shares by a director

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

On market sale of 45,959 ordinary shares in order to settle a tax liability related to an upfront award of forfeitable shares which vest immediately and subject to a twelve month retention period.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
GBP5.56	45,959

d)

Aggregated information

- Aggregated volume

- Price

45,959

GBP5.56

e)

Date of the transaction

1 June 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	45,959
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP255,528.78
Highest price	GBP5.57
Lowest price	GBP5.56
Nature of interest	Direct beneficial
Date and place of transaction	1 June 2018, London

Award of fixed allowance shares

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.  

The fixed allowance forfeitable shares which vest immediately on award incur a tax liability. In order to settle this liability, Glynn Burger disposed of the following number of forfeitable shares on 1 June 2018:

Disposal of shares by a director

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

On market sale of 6,325 ordinary shares in order to settle a tax liability related to the award of forfeitable shares which vest immediately.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
GBP5.56	6,325

d)

Aggregated information

- Aggregated volume

- Price

6,325

GBP5.56

e)

Date of the transaction

1 June 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	6,325
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP35,166.55
Highest price	GBP5.57
Lowest price	GBP5.56
Nature of interest	Direct beneficial
Date and place of transaction	1 June 2018, London

Disposal of shares by a director

Sale of shares to settle tax liability pursuant to the vesting of forfeitable shares awarded in June 2015.

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

On market sale of 35,265 ordinary shares in order to settle a tax liability related to the vesting forfeitable shares awards made in June 2015.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
GBP5.56	35,265

d)

Aggregated information

- Aggregated volume

- Price

35,265

GBP5.56

e)

Date of the transaction

1 June 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	35,265
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP196,031.08
Highest price	GBP5.60
Lowest price	GBP5.52
Nature of interest	Direct beneficial
Date and place of transaction	1 June 2018, London

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

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

On market sale of 37,639 ordinary shares in order to settle a tax liability related to the vesting forfeitable shares awards made in June 2015.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
GBP5.56	37,639

d)

Aggregated information

- Aggregated volume

- Price

37,639

GBP5.56

e)

Date of the transaction

1 June 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	37,639
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP209,227.67
Highest price	GBP5.60
Lowest price	GBP5.52
Nature of interest	Direct beneficial
Date and place of transaction	1 June 2018, London

TRANSACTION BY A PDMR IN INVESTEC PLC ORDINARY SHARES.

Investec has been advised that David van der Walt disposed of the following number of ordinary shares in Investec plc (INP Shares) on 01 June 2015 in order to settle a tax liabilities related to prior year share awards which have now vested. 

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 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	5,457

d)

Aggregated information

- Aggregated volume

- Price

5,457

GBP5.56

e)

Date of the transaction

01 June 2018

f)

Place of the transaction

London

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the following additional information is disclosed in respect of the sale of INP Shares as disclosed above:

Number of shares	5,457
Volume weighted average selling price	GBP5.56
Total value of transaction	GBP30,334.37
Highest price	GBP5.57
Lowest price	GBP5.55
Nature of interest	Direct beneficial
Date and place of transaction	1 June 2018, London

04 June 2018

Sponsor:

Investec Bank Limited

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