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Investec wraps tender offer for sterling and rand preference shares
By Susanna Moon
Chicago, July 27 – Investec plc said it accepted for purchase tenders for 12,176,826 of its 15,081,149 sterling preference shares and 1,994,493 of its 2,275,940 South African rand preference shares.
After the repurchase, there will be left outstanding 2,904,323 of the sterling preferreds and 281,447 of the rand preferreds, according to a company update.
The purchase price will be £5.7509589 for the sterling preferreds, or £5.70 principal amount per share plus 5.09589p for accrued dividends from April 1 up to the expected settlement date.
For the rand preferreds, the purchase price will be ZAR 103.3887671, or ZAR 100 par amount plus ZAR 0.33887671 for accrued dividends to the expected settlement date of Aug. 3.
The tender offer ended at 6 a.m. ET on July 26. The offer began June 20.
J.P. Morgan Securities plc (+44 207 134 2468, emea_lm@jpmorgan.com) is the dealer manager for the sterling offer, and Investec Bank Ltd. (+27 11 286 7326, robert.smith@investec.co.za) is the dealer manager for the rand offer.
Investec is London-based financial services company, specialist bank and asset manager.
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