Investec PLC Investec Group Board Executive Director Changes (9107T)

TIDMINVP

RNS Number : 9107T

Investec PLC

25 March 2019

 
 Investec Limited                      Investec plc 
  Incorporated in the Republic of       Incorporated in England and Wales 
  South Africa                          Registration number 3633621 
  Registration number 1925/002833/06    LSE share code: INVP 
  JSE share code: INL                   JSE share code: INP 
  NSX share code: IVD                   ISIN: GB00B17BBQ50 
  BSE share code: INVESTEC 
  ISIN: ZAE000081949 
 

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 Listing Requirements.

Accordingly we advise of the following:

Investec ("the Group", comprising of Investec Limited and Investec plc)

Board changes

Following the Group's announcement on management succession made in February 2018 and the announcement made on 14 September 2018 with respect to the proposed demerger and listing of Investec Asset Management ("the Transaction"), the Board wishes to confirm the following director changes.

Investec Limited and Investec plc Board Executive Director changes

As previously announced and as part of the Group's orderly succession plan to move from founding members to the next generation of leadership, Glynn Burger, Group Risk and Finance Director, will retire from the Boards on 31 March 2019. The Board would like to thank Glynn for his exemplary service, dedication and commitment to the Group since the 1980s.

As of 1 April 2019, Nishlan Samujh, currently the Chief Finance Officer of the Investec Group will take responsibility for the Group Finance Director role and will be appointed as an executive director of the Investec Limited and Investec plc Board.

Ciaran Whelan, who has held various senior positions globally with the Investec group over the past 30 years, and who is currently Global Joint Head of the Specialist Bank and Global Head of Private Banking, will assume Glynn Burger's role as Global Head of Risk in an acting capacity pending regulatory approval.

Following these changes, the Executive Directors of the Investec plc and Investec Limited boards will be: Fani Titi and Hendrik du Toit (Joint-CEOs), Stephen Koseff, Bernard Kantor, Kim McFarland and Nishlan Samujh. The Board congratulates the new executive team on their appointments.

Save for the information provided above, there are no further details required to be disclosed by Rule 9.6.13 of the UK Listing Rules.

For further information please contact

Investec Investor Relations

[e-mail]

Tel: [phone] or [phone]

About Investec

Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services to a select client base in three principal markets, the UK and Europe, South Africa and Asia/Australia as well as certain other countries. The Group was established in 1974 and has approximately 10 100 employees.

Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity namely, Asset Management, Wealth & Investment and Specialist Banking.

In July 2002 the Investec group implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. The combined Group's current market capitalisation is approximately GBP5.5 billion.

Johannesburg and London

25 March 2019

Sponsor: Investec Bank Limited

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March 25, 2019 11:00 ET (15:00 GMT)