Investec executes share purchase for incentive plan

JOHANNESBURG - Investec (LON:INVP) Limited, part of the Investec group dual-listed in South Africa and the UK, has executed a series of share purchases to fulfill obligations under its Share Incentive Plan 2021. The transactions, which took place over three consecutive days, saw a total of 600,000 Investec Limited ordinary shares acquired on the open market.

The shares were purchased through the Johannesburg Stock Exchange (JSE) with the first transaction occurring on Monday, involving 200,000 shares at a price of ZAR121.4092 per share, amounting to a total value of ZAR24,281,840.00. The following day, another 200,000 shares were acquired at ZAR123.4963 each, totaling ZAR24,699,260.00. The final batch of shares was bought on Wednesday, with an additional 200,000 shares at ZAR125.2993 each, bringing the total value to ZAR25,059,860.00.

These acquisitions were made in compliance with the JSE Listings Requirements, specifically paragraphs 3.63 to 3.66 and 3.96, which mandate the disclosure of indirect beneficial acquisitions of shares to satisfy the Plan's commitments to participants. Prior clearance for these dealings was duly obtained.

The share purchase activity was conducted under the regulatory framework of both the Financial Conduct Authority (FCA) in the UK and the JSE in South Africa. Investec Bank Limited served as the sponsor for these transactions.

Investec's actions reflect the company's ongoing commitment to its Share Incentive Plan, designed to align the interests of its employees with those of its shareholders. These transactions are based on a press release statement and are part of the standard operations for companies with share incentive schemes.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.