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LONDON/JOHANNESBURG - Investec (LON:INVP) Limited plans to execute a share purchase and buyback program worth up to R2.5 billion (approximately £100 million), according to a statement released Wednesday.
The program, which begins today and is expected to run until March 31, 2026, involves the purchase of Investec plc ordinary shares and the repurchase of Investec Limited ordinary shares, subject to market conditions.
Investec Limited has entered into a mandate with Investec Markets (Proprietary) Limited to conduct the on-market transactions. The broker will purchase shares on the Johannesburg Stock Exchange, the London Stock Exchange (LON:LSEG), or other trading venues in the United Kingdom (TADAWUL:4280) and South Africa where the shares are listed, before selling them to Investec Limited.
The repurchased Investec Limited shares will be cancelled and reinstated as authorized but unissued shares in the company’s capital. Purchased Investec plc shares will be treated as treasury shares in the consolidated annual financial statements of the Investec Group, with Investec Limited waiving voting and dividend rights on these shares unless it notifies otherwise.
This share buyback program was initially announced during the company’s year-end results presentation on May 22, 2025, following the close of its financial year on March 31, 2025.
The broker will not purchase shares on U.S.-based trading venues or knowingly from persons located in the United States, according to the press release statement.
Investec operates under a dual-listed company structure, with listings on both the London Stock Exchange and the JSE Limited.
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