Business
Update: Investec Wealth UK combination
Update: Investec Wealth UK combination.
About this update from Investec Plc
[{"type":"text","content":"\n\n\n\n\nINVESTEC PLC\n(Incorporated in England and Wales)\n(Registration number 3633621)\nLSE share code: INVP\nJSE share code: INP\nISIN: GB00B17BBQ50\nLEI:2138007Z3U5GWDN3MY22\n\n\nINVESTEC LIMITED\n(Incorporated in the Republic of South Africa)\n(Registration number 1925/003833/06)\nJSE share code: INL\nJSE hybrid code: INPR\nJSE debt code: INLV\nNSX Share code: IVD\nBSE share code: INVESTEC\nISIN: ZAE000081949\nLEI:213800CU7SM6O4UWOZ70\n\n\n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART), DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n2 August 2023\n \nFurther announcement in relation to combination of Investec Wealth & Investment UK Limited and Rathbones Group plc\n \nFurther to the announcements dated 4 April 2023 regarding an all-share combination of Investec Wealth & Investment Limited (\"Investec W&I UK\") and Rathbones Group Plc (\"Rathbones\") (the \"Combination\"), Investec plc (\"Investec Group\") is pleased to confirm that all regulatory clearances in connection with the Combination have been received.\nAccordingly, Completion of the Combination and the issue of the Consideration Shares to Investec Group is now anticipated to occur on 21 September 2023, subject to: (i) the Financial Conduct Authority and London Stock Exchange agreeing to admit the Consideration Shares to the premium listing segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities; and (ii) no material adverse change having occurred in respect of either Rathbones or Investec W&I UK.\nUnless otherwise defined, defined terms used in this announcement shall have the meaning given to them in the Investec Group announcement of the Combination on 4 April 2023.\nCompletion will mark the beginning of a long-term strategic partnership between Investec and Rathbones that will enhance the client proposition across banking and wealth management services for both groups. Investec will own 41.25% of the economic interest (29.9% voting rights) in the combined group's enlarged share capital, reflecting our commitment to the attractive UK wealth management sector.\nEnquiries:\nInvestec plc...