Investec Limited | Investec plc |
Incorporated in the Republic of South Africa | Incorporated in England and Wales |
Registration number 1925/002833/06 | Registration number 3633621 |
JSE share code: INL | LSE share code: INVP |
JSE Hybrid code: INPR | JSE share code: INP |
JSE debt code: INLV | ISIN: GB00B17BBQ50 |
NSX share code: IVD | LEI: 2138007Z3U5GWDN3MY22 |
BSE share code: INVESTEC | |
ISIN: ZAE000081949 | |
LEI: 213800CU7SM6O4UWOZ70 | |
(jointly "Investec") |
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 Listing Rules of the Financial Conduct Authority (the "FCA") and/or the JSE Listings Requirements.
Accordingly, we advise of the following:
Results of Annual General Meetings of Investec Limited and Investec plc
(the "AGMs")
The AGMs were held on 04 August 2022. As required by the dual listed company structure, all resolutions were treated as Joint Electorate Actions and were decided on a poll. All resolutions at both meetings were passed by the required majority. Resolutions 1 to 18, 20 to 27 and 33 to 39 were passed as ordinary resolutions. Resolutions 28 to 32 and resolutions 40 and 41 were passed as special resolutions.
The voting results of the Joint Electorate Actions are identical and are given below:
Total | Votes | |||||||||||
Votes | ||||||||||||
Withheld | ||||||||||||
Cast as | ||||||||||||
% of | % of | as a % of | ||||||||||
Votes | Total Votes | a % of | Votes | |||||||||
Resolution | Votes For | Votes | Votes | the | ||||||||
Against | Cast | the | Withheld | |||||||||
Cast | Cast | Ordinary | ||||||||||
Ordinary | ||||||||||||
Shares in | ||||||||||||
Shares | ||||||||||||
Issue | ||||||||||||
in Issue | ||||||||||||
Common Business: Investec plc and Investec Limited | ||||||||||||
1 | Re-election | of | Henrietta | 829,045,446 | 99.73% | 2,209,584 | 0.27% | 831,255,030 | 82.71% | 0.13% | ||
Baldock | 1,348,013 | |||||||||||
2 | Re-election | of | Zarina | 743,516,999 | 89.47% | 87,545,783 | 10.53% | 831,062,782 | 82.69% | 0.15% | ||
Bassa | 1,540,261 | |||||||||||
3 | Re-election | of | Philip | 815,683,492 | 98.13% | 15,571,538 | 1.87% | 831,255,030 | 82.71% | 0.13% | ||
Hourquebie | 1,348,013 | |||||||||||
4 | Re-election | of | Stephen | 755,872,614 | 90.93% | 75,384,331 | 9.07% | 831,256,945 | 82.71% | 0.13% | ||
Koseff | 1,346,098 | |||||||||||
5 | Re-election | of | Nicky | 828,979,808 | 99.73% | 2,275,361 | 0.27% | 831,255,169 | 82.71% | 0.13% | ||
Newton-King | 1,347,874 | |||||||||||
6 | Re-election | of | Jasandra | 829,044,528 | 99.73% | 2,210,426 | 0.27% | 831,254,954 | 82.71% | 0.13% | ||
Nyker | 1,348,089 | |||||||||||
7 | Re-election | of | Nishlan | 822,039,893 | 98.88% | 9,280,975 | 1.12% | 831,320,868 | 82.72% | 0.13% | ||
Samujh | 1,282,175 | |||||||||||
8 | Re-election | of | Khumo | 751,600,921 | 90.42% | 79,654,033 | 9.58% | 831,254,954 | 82.71% | 0.13% | ||
Shuenyane | 1,348,089 | |||||||||||
9 | Re-election | of | Philisiwe | 826,137,266 | 99.38% | 5,119,510 | 0.62% | 831,256,776 | 82.71% | 0.13% | ||
Sibiya | 1,346,267 | |||||||||||
10 | Re-election | of | Brian | 828,982,564 | 99.73% | 2,272,581 | 0.27% | 831,255,145 | 82.71% | 0.13% | ||
Stevenson | 1,347,898 | |||||||||||
11 | Re-election of Fani Titi | 824,797,440 | 99.22% | 6,457,514 | 0.78% | 831,254,954 | 82.71% | 1,348,089 | 0.13% | |||
12 | Re-election | of | Richard | 756,653,105 | 91.06% | 74,242,331 | 8.94% | 830,895,436 | 82.68% | 0.17% | ||
Wainwright | 1,707,607 | |||||||||||
13 | Re-election | of | Ciaran | 756,587,358 | 91.06% | 74,308,147 | 8.94% | 830,895,505 | 82.68% | 0.17% | ||
Whelan | 1,707,561 | |||||||||||
14 | Election of Vanessa Olver | 830,916,539 | 99.96% | 337,542 | 0.04% | 831,254,081 | 82.71% | 1,348,962 | 0.13% | |||
Approval of | the DLC | |||||||||||
15 | directors' | remuneration | 815,109,095 | 98.05% | 16,173,486 | 1.95% | 831,282,581 | 82.72% | 0.13% | |||
report for the year ended 31 | 1,320,584 | |||||||||||
March 2022 |
Approval of an amendment | |||||||||||||
16 | to the | DLC | directors' | 829,497,737 | 99.79% | 1,769,898 | 0.21% | 831,267,635 | 82.71% | 1,335,530 | 0.13% | ||
remuneration policy | |||||||||||||
Approval | of | the DLC | |||||||||||
17 | directors' | remuneration | 748,162,235 | 90.00% | 83,105,034 | 10.00% | 831,267,269 | 82.71% | 1,335,896 | 0.13% | |||
policy | |||||||||||||
18 | Authority to take action in | 831,247,791 | 100.00% | 30,176 | 0.00% | 831,277,967 | 82.72% | 0.13% | |||||
respect of the resolutions | 1,325,076 | ||||||||||||
Ordinary business: Investec Limited | |||||||||||||
Presentation of the audited | |||||||||||||
19 | financial statements for the | Non-voting | |||||||||||
year ended 31 March 2022 | |||||||||||||
Sanction of the interim | |||||||||||||
20 | dividend paid on the | 831,312,803 | 100.00% | 10,366 | 0.00% | 831,323,169 | 82.72% | 1,279,746 | 0.13% | ||||
ordinary shares | |||||||||||||
Sanction of the interim | |||||||||||||
21 | dividend paid on the SA | 831,312,186 | 100.00% | 10,545 | 0.00% | 831,322,731 | 82.72% | 1,280,184 | 0.13% | ||||
DAS share | |||||||||||||
Approval of the final | |||||||||||||
22 | dividend on the ordinary | 824,476,767 | 99.18% | 6,846,145 | 0.82% | 831,322,912 | 82.72% | 0.13% | |||||
shares and the SA DAS | 1,280,003 | ||||||||||||
share | |||||||||||||
23 | Re-appointment of Ernst & | 802,682,841 | 96.56% | 28,638,612 | 3.44% | 831,321,453 | 82.72% | 0.13% | |||||
Young Inc. as joint auditors | 1,281,340 | ||||||||||||
24 | Re-appointment of KPMG | 749,475,270 | 90.15% | 81,843,639 | 9.85% | 831,318,909 | 82.72% | 0.13% | |||||
Inc. as joint auditors | 1,283,884 | ||||||||||||
25 | Appointment of PwC Inc. in | 831,070,874 | 99.97% | 248,115 | 0.03% | 831,318,989 | 82.72% | 1,283,804 | 0.13% | ||||
a shadow capacity | |||||||||||||
Special business: Investec Limited | |||||||||||||
Authority to issue the | |||||||||||||
unissued variable rate, | |||||||||||||
redeemable, cumulative | |||||||||||||
preference shares; the | |||||||||||||
unissued non-redeemable, | |||||||||||||
non-cumulative, non- | |||||||||||||
participating preference | |||||||||||||
shares (perpetual | |||||||||||||
preference shares); the | |||||||||||||
unissued non- | |||||||||||||
26 | redeemable, non- | 759,132,617 | 91.32% | 72,187,344 | 8.68% | 831,319,961 | 82.72% | 1,283,082 | 0.13% | ||||
cumulative, non- | |||||||||||||
participating preference | |||||||||||||
shares (non-redeemable | |||||||||||||
programme preference | |||||||||||||
shares); and the | |||||||||||||
redeemable, non- | |||||||||||||
participating preference | |||||||||||||
shares (redeemable | |||||||||||||
programme preference | |||||||||||||
shares) | |||||||||||||
Authority to issue the | |||||||||||||
27 | unissued special | 826,470,956 | 99.51% | 4,066,945 | 0.49% | 830,537,901 | 82.64% | 2,065,142 | 0.21% | ||||
convertible redeemable | |||||||||||||
preference shares | |||||||||||||
28 | Authority to acquire | 814,657,864 | 98.25% | 14,518,368 | 1.75% | 829,176,232 | 82.51% | 3,426,811 | 0.34% | ||||
ordinary shares | |||||||||||||
Authority to acquire any | |||||||||||||
redeemable, non- | |||||||||||||
participating preference | |||||||||||||
29 | shares and non- | 826,213,961 | 99.55% | 3,739,966 | 0.45% | 829,953,927 | 82.58% | 2,649,139 | 0.26% | ||||
redeemable, non- | |||||||||||||
cumulative, non- | |||||||||||||
participating preference | |||||||||||||
shares | |||||||||||||
30 | Financial assistance | 821,054,159 | 98.81% | 9,870,587 | 1.19% | 830,924,746 | 82.68% | 1,378,297 | 0.14% | ||||
Approval of the non- | |||||||||||||
31 | executive directors' | 821,701,968 | 98.85% | 9,564,770 | 1.15% | 831,266,738 | 82.71% | 1,336,255 | 0.13% | ||||
remuneration | |||||||||||||
Amendment to the | |||||||||||||
32 | Investec Limited | 831,167,401 | 99.98% | 150,106 | 0.02% | 831,317,507 | 82.72% | 1,285,536 | 0.13% | ||||
Memorandum of | |||||||||||||
Incorporation | |||||||||||||
Ordinary Business: Investec plc |
Receive the audited | ||||||||||
33 | financial statements for the | 823,810,334 | 99.65% | 2,873,934 | 0.35% | 826,684,268 | 82.26% | 5,918,897 | 0.59% | |
year ended 31 March 2022 | ||||||||||
Sanction of the interim | ||||||||||
34 | dividend paid on the | 827,796,409 | 99.66% | 2,784,294 | 0.34% | 830,580,703 | 82.65% | 2,022,462 | 0.20% | |
ordinary shares | ||||||||||
Approval of the final | ||||||||||
35 | dividend on the ordinary | 830,404,637 | 99.98% | 175,944 | 0.02% | 830,580,581 | 82.65% | 2,022,462 | 0.20% | |
shares | ||||||||||
36 | Re-appointment of Ernst & | 810,333,615 | 97.57% | 20,222,954 | 2.43% | 830,556,569 | 82.64% | 2,022,475 | 0.20% | |
Young LLP as auditors | ||||||||||
Authority for the Investec | ||||||||||
37 | plc Audit Committee to set | 829,720,264 | 99.90% | 817,299 | 0.10% | 830,537,563 | 82.64% | 2,064,420 | 0.21% | |
the remuneration of the | ||||||||||
company's auditors | ||||||||||
38 | Political donations | 585,512,274 | 70.50% | 244,965,122 | 29.50% | 830,477,396 | 82.64% | 2,125,769 | 0.21% | |
Special Business: Investec plc | ||||||||||
39 | Authority to allot shares | 818,168,135 | 98.60% | 11,624,083 | 1.40% | 829,792,218 | 82.57% | 2,810,825 | 0.28% | |
and other securities | ||||||||||
40 | Authority to purchase | 828,318,137 | 99.99% | 114,321 | 0.01% | 828,432,458 | 82.43% | 4,170,585 | 0.41% | |
ordinary shares | ||||||||||
41 | Authority to purchase | 824,632,520 | 99.86% | 1,150,315 | 0.14% | 825,782,835 | 82.17% | 4,713,816 | 0.47% | |
preference shares | ||||||||||
The Board notes that at today's AGMs the following resolution passed with a less than 80% majority: resolution 38 (political donations).
Commenting on the less than 80% vote received for authority to make political donations and to incur political expenditure
As set out in the notices to the AGMs, Investec plc does not give any money for political purposes in the UK nor does it make any donations to UK political organisations or incur UK political expenditure. However, the definitions of political donations and political expenditure used in the UK Companies Act 2006 are very wide. In line with UK market practice, the authority is therefore requested only as a precautionary measure to ensure that Investec plc and any company which is or becomes a subsidiary of Investec plc does not inadvertently breach the relevant provisions of the UK Companies Act.
Other information
As at the date of the AGMs, Investec plc's issued capital consists of 696,082,618 ordinary shares of GBP0.0002 each and Investec Limited's issued capital consists of 308,907,870 ordinary shares of ZAR0.0002 each. In accordance with the dual listed companies' structure, the aggregate number of voting rights which may be exercised at the AGMs was 1,004,990,488.
Votes withheld are not votes in law and have not been counted in the calculation of the proportion of votes 'for' or 'against' a resolution. Proxy appointments which gave discretion to the Chair have been included in the 'for' total.
Document regarding Resolutions passed at the Shareholder Meetings on 04 August 2022:
- Copies of all resolutions passed as special business at the Shareholder Meetings on 04 August 2022, pursuant to Listing Rule 9.6.2, will be submitted to the National Storage Mechanism and will shortly be available for inspection athttps://data.fca.org.uk/#/nsm/nationalstoragemechanism
David Miller | Niki van Wyk |
Company Secretary | Company Secretary |
Investec plc | Investec Limited |
Johannesburg and London | |
Date: 04 August 2022 | |
Sponsor: Investec Bank Limited |
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Disclaimer
Investec Limited published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 14:57:03 UTC.