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INPR - Investec Limited - Non-redeemable non-cumulative non-participating preference shares of ZAR0.01 each in the capital of Investec Limited Investec Limited Registration number: 1925/002833/06 Share code: INPR ISIN: ZAE000063814 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, Transparency and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements. Accordingly, we advise of the following: Investec Limited: non-redeemable non-cumulative non-participating preference shares of ZAR0.01 each in the capital of Investec Limited (the "Investec Limited Preference Shares") Proposed placing and issue of an additional tranche of the Investec Limited Preference Shares - Update Introduction Shareholders are advised that, further to the SENS announcement released on 30 March 2012, Investec Limited has obtained the requisite SARB approval and will accordingly proceed with the issue of a further tranche of the Investec Limited Preference Shares to investors for cash by way of a private placement. These Investec Limited Preference Shares shall rank equally with the existing issued and listed Investec Limited non-redeemable, non-cumulative, non-participating preference shares of ZAR0.01 each in the capital of Investec Limited. Pricing and additional information The new tranche of Investec Limited Preference Shares will be offered at a clean price of ZAR83.33 per Investec Limited Preference Share, which results in an effective yield of 84% of prime. This price is calculated with reference to the clean 10 day volume weighted average trade price of the Investec Limited Preference Shares as at the close of business on 20 March 2012 and represents a 5% discount thereon. The offer period opens on Monday, 16th April 2012 and closes Wednesday, 18th April 2012 at 17h00 and settlement will take place on Wednesday, 25th April 2012. After including accrued dividends, the issue price for settlement on Wednesday, 25th April will be ZAR86.90, and not ZAR87.71 as previously announced. As announced on 15 March 2012, the board of directors of Investec Limited has resolved to amend the rate used to calculate the dividend payable on the Investec Limited Preference Shares on or about 02 August 2012, being the date on which the Annual General Meeting of Investec Limited will take place from the current rate of 70% of the prime rate to 77,77% of the prime rate, to the extent that Investec Limited does not have sufficient STC credits, and subject to the passing of the required resolutions by the holders of the Investec Limited Preference Shares and Investec Limited ordinary shareholders. Placing of the preference shares Placement of the Investec Limited Preference Shares will be made through a book building process, in terms of which investors will be invited to participate in the proposed issue. Interested investors are requested to contact their stockbrokers, or alternatively Investec Capital Markets (contact details below) regarding participation in this offer. The issue of the Investec Limited Preference Shares will be subject to and conditional upon the final approval by Investec Limited of the terms of any such issue and the approval of the listing of such preference shares by the JSE All applicants must obtain their own advice in connection with the taxation consequences relating to their investment in the perpetual shares. Arranger and Bookrunner Investec Capital Markets Ysanne Amos +27 (0)11 286 9546 Mabule Setoaba +27 (0)11 286 9901 Kenric Owen +27 (0)11 286 9930 11 April 2012 Sponsor Investec Limited Date: 11/04/2012 17:00:04 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
