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LONDON/JOHANNESBURG - Investec Limited has purchased additional shares of both Investec plc and its own ordinary shares as part of its ongoing share purchase and buyback program, according to a press release statement issued Thursday.
The financial services group acquired 163,676 Investec plc ordinary shares on the London Stock Exchange on September 10, at prices ranging from £5.76 to £5.845 per share, with an average price of £5.8099. On the same day, the company purchased 108,844 Investec plc shares on the Johannesburg Stock Exchange at prices between R136.65 and R138.66, averaging R137.3015 per share.
Additionally, Investec Limited repurchased 31,207 of its own ordinary shares on the JSE at prices ranging from R135.99 to R137.79, with an average price of R136.7294 per share. These repurchased Investec Limited shares will be cancelled and reinstated as authorized but unissued shares.
The company intends to treat the acquired Investec plc shares as treasury shares in its consolidated annual financial statements.
Since the program commenced on August 20, Investec Limited has purchased a total of 3,178,562 Investec plc shares on the LSE at a cost of approximately £17.55 million and 3,119,249 Investec plc shares on the JSE at a cost of about R410.77 million. The company has also repurchased 1,964,852 of its own shares at a cost of approximately R259.48 million.
Investec Limited is listed on the Johannesburg Stock Exchange under the code INL, while Investec plc trades on the London Stock Exchange (INVP) and the JSE (INP).
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