Wrap Text
Transactions in Investec plc and Investec Limited Ordinary Shares
Investec Limited Investec plc
Incorporated in the Republic of South Africa Incorporated in England and Wales
Registration number 1925/002833/06 Registration number 3633621
JSE share code: INL LSE share code: INVP
JSE hybrid code: INPR JSE share code: INP
JSE debt code: INLV ISIN: GB00B17BBQ50
NSX share code: IVD LEI: 2138007Z3U5GWDN3MY22
BSE share code: INVESTEC
ISIN: ZAE000081949
LEI: 213800CU7SM6O4UWOZ70
Transactions in Investec plc and Investec Limited Ordinary Shares
As part of the dual listed company structure, Investec plc and Investec Limited (together "Investec") notify
both the London and Johannesburg Stock Exchanges of those interests (and changes to those interests)
of (i) directors of both entities and the respective company secretaries, (ii) persons discharging managerial
responsibilities (PDMRs) across the group, and (iii) in certain instances the directors of major subsidiaries
of Investec Limited, in the securities of Investec plc and Investec Limited which are required to be disclosed
under Article 19 of the Market Abuse Regulation (Regulation 596/2014), the Disclosure Guidance and
Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listings
Requirements.
On 27 May 2026, the Remuneration Committee duly approved the awards to Investec staff. Accordingly,
we advise of the following transactions in shares, dated 28 May 2026:
TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC
PLC ORDINARY SHARES")
1. Interests in Investec plc Ordinary Shares – Executive Directors
On 28 May 2026 and pursuant to the Executive Directors' remuneration policy approved by the
shareholders, Investec made the following awards in respect of ordinary shares in the capital of
Investec plc for nil consideration pursuant to the Investec plc Share Incentive Plan 2021:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Fani Titi
2 Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv) each place where transactions
have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the
upfront component of Short-Term Incentive
pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with
immediate vesting, subject to a 12-month
retention period.
2. Award of conditional performance shares
representing Long Term Incentive pursuant to
the Investec plc Share Incentive Plan 2021.
Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with
deferred vesting in years 3 to 7 from award.
Subject to a 12-month retention period upon
vesting.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 99 987
2. Nil 275 000
e) Aggregated information
- Aggregated volume 374 987
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nishlan Samujh
2 Reason for the notification
a) Position/status Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the
upfront component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with immediate
vesting, subject to a 12-month retention period.
2. Award of conditional performance shares
representing Long Term Incentive pursuant to
the Investec plc Share Incentive Plan 2021.
Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with
deferred vesting in years 3 to 7 from award.
Subject to a 12-month retention period upon
vesting.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 66 658
2. Nil 183 334
e) Aggregated information
- Aggregated volume 249 992
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
In addition, pursuant to the Executive Directors' remuneration policy approved by the shareholders,
Investec has assessed the attainment of the performance conditions relating to the June 2023 LTI
award pursuant to the Investec plc Share Incentive Plan 2021, and accordingly the award will vest at
66.16% of the original award. The revised award is disclosed below.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Fani Titi
2 Reason for the notification
a) Position/status Director
b) Initial notification Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv) each place where transactions
have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction June 2023 award of 188 236 conditional shares revised to
124 540 conditional shares pursuant to the Investec plc
Share Incentive Plan 2021 upon the fulfilment of
predetermined performance conditions as per the June
2023 LTI award agreement. Issued for nil consideration,
vesting as per the original award profile in years 3 to 7 from
2023, subject to a 12-month retention period.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
Nil 124 540
e) Aggregated information
- Aggregated volume 124 540
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nishlan Samujh
2 Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction June 2023 award of 122 353 conditional shares revised to
80 951 conditional shares pursuant to the Investec plc
Executive Incentive Plan 2013 upon the fulfilment of
predetermined performance conditions as per the June
2023 LTI award agreement. Issued for nil consideration,
vesting as per the original award profile in years 3 to 7
from 2023, subject to a 12-month retention period.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
Nil 80 951
e) Aggregated information
- Aggregated volume 80 951
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
2. Interests in Investec plc Ordinary Shares – PDMRs and Directors of major subsidiaries
On 28 May 2026, Investec made the following awards in respect of ordinary shares in the capital
of Investec plc for nil consideration pursuant to the Investec plc Share Incentive Plan 2021 (the
"Plan) :
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Cumesh Moodliar
2 Reason for the notification
a) Position/status PDMR and Director of Major Subsidiary
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
2. Award of conditional performance shares representing Long
Term Incentive pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 103 115
2. Nil 103 115
e) Aggregated information
- Aggregated volume 206 230
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Mark Currie
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the
upfront component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with immediate
vesting, subject to a 12-month retention period.
2. Award of conditional shares representing the
deferred component of Short-Term Incentive
pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with
deferred vesting in years 1 to 4 from award with
no further retention requirements.
3. Award of conditional shares representing Long
Term Incentive pursuant to the Investec plc Share
Incentive Plan 2021. Issued for nil consideration
with deferred in years 3 to 5 from award with no
further retention requirements.
4. Award of conditional performance shares
representing Long Term Incentive pursuant to the
Investec plc Share Incentive Plan 2021. Issued
for nil consideration with a performance period
from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further
retention requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 7 784
2. Nil 2 816
3. Nil 28 641
4. Nil 28 641
e) Aggregated information
- Aggregated volume 67 882
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Stuart Spencer
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the
upfront component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with immediate
vesting, subject to a 12-month retention period.
2. Award of conditional shares representing the
deferred component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred
vesting in years 1 to 4 from award with no further
retention requirements.
3. Award of conditional shares representing Long
Term Incentive pursuant to the Investec plc Share
Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 3 to 5 from award
with no further retention requirements.
4. Award of conditional performance shares
representing Long Term Incentive pursuant to the
Investec plc Share Incentive Plan 2021. Issued
for nil consideration with a performance period
from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further
retention requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 5 599
2. Nil 13 172
3. Nil 30 017
4. Nil 30 016
e) Aggregated information
- Aggregated volume 78 804
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Abey Mokgwatsane
2 Reason for the notification
a) Position/status PDMR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the
upfront component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with immediate
vesting, subject to a 12-month retention period.
2. Award of conditional shares representing Long
Term Incentive pursuant to the Investec plc Share
Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 3 to 5 from award
with no further retention requirements.
3. Award of conditional performance shares
representing Long Term Incentive pursuant to the
Investec plc Share Incentive Plan 2021. Issued
for nil consideration with a performance period
from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further
retention requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 1 376
2. Nil 16 182
3. Nil 16 181
e) Aggregated information
- Aggregated volume 33 739
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Lesley-Anne Gatter
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the upfront
component of Short-Term Incentive pursuant to the Investec
plc Share Incentive Plan 2021. Issued for nil consideration
with immediate vesting, subject to a 12-month retention
period.
2. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
3. Award of conditional performance shares representing Long
Term Incentive pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 1 780
2. Nil 17 800
3. Nil 17 799
e) Aggregated information
- Aggregated volume 37 379
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Marc Kahn
2 Reason for the notification
a) Position/status PDMR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction 1. Award of forfeitable shares representing the upfront
component of Short-Term Incentive pursuant to the Investec
plc Share Incentive Plan 2021. Issued for nil consideration
with immediate vesting, subject to a 12-month retention
period.
2. Award of conditional shares representing the deferred
component of Short-Term Incentive pursuant to the Investec
plc Share Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 1 to 4 from award with no further
retention requirements.
3. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
4. Award of conditional performance shares representing Long
Term Incentive pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 5 777
2. Nil 2 719
3. Nil 34 709
4. Nil 34 709
e) Aggregated information
- Aggregated volume 77 914
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Marle Van der Walt
2 Reason for the notification
a) Position/status PDMR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument,
type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction
1. Award of forfeitable shares representing the upfront
component of Short-Term Incentive pursuant to the
Investec plc Share Incentive Plan 2021. Issued for
nil consideration with immediate vesting, subject to
a 12-month retention period.
2. Award of conditional shares representing the
deferred component of Short-Term Incentive
pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred
vesting in years 1 to 4 from award with no further
retention requirements.
3. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share
Incentive Plan 2021. Issued for nil consideration with
deferred vesting in years 3 to 5 from award with no
further retention requirements.
4. Award of conditional performance shares
representing Long Term Incentive pursuant to the
Investec plc Share Incentive Plan 2021. Issued for
nil consideration with a performance period from 1
April 2026 to 31 March 2029 with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 6 797
2. Nil 17 476
3. Nil 24 272
4. Nil 24 272
e) Aggregated information
- Aggregated volume 72 817
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Lyndon Subroyen
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial
instrument, type of instrument Ordinary shares of GBP0.0002 each
Identification code GB00B17BBQ50
b) Nature of the transaction
1. Award of forfeitable shares representing the upfront
component of Short-Term Incentive pursuant to the Investec
plc Share Incentive Plan 2021. Issued for nil consideration
with immediate vesting, subject to a 12-month retention
period.
2. Award of conditional shares representing the deferred
component of Short-Term Incentive pursuant to the Investec
plc Share Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 1 to 4 from award with no
further retention requirements.
3. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
4. Award of conditional performance shares representing Long
Term Incentive pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 3 366
2. Nil 19 289
3. Nil 33 657
4. Nil 33 657
e) Aggregated information
- Aggregated volume 89 969
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Ruth Leas
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec plc
b) LEI 2138007Z3U5GWDN3MY22
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each
type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
a) Description of the financial
instrument, type of Ordinary shares of GBP0.0002 each
instrument
GB00B17BBQ50
Identification code
b) Nature of the transaction 1. Award of conditional shares representing Long Term
Incentive pursuant to the Investec plc Share Incentive Plan
2021. Issued for nil consideration with deferred vesting in
years 3 to 5 from award with no further retention
requirements.
2. Award of conditional performance shares representing Long
Term Incentive pursuant to the Investec plc Share Incentive
Plan 2021. Issued for nil consideration with a performance
period from 1 April 2026 to 31 March 2029 with deferred
vesting in years 3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 83 415
2. Nil 83 414
e) Aggregated information
- Aggregated volume 166 829
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction London
TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC
PLC ORDINARY SHARES")
3. Interests in Investec plc Ordinary Shares – Company Secretary
In compliance with paragraphs 6.77 to 6.89 of the JSE Listings Requirements, we advise of the
following changes to attributable interests in Investec plc by the Company:
On 28 May 2026, Investec made forfeitable share awards in respect of ordinary shares in the capital
of Investec plc for nil consideration pursuant to the Investec plc Share Incentive Plan 2021. These
forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the date
of award:
Company Secretary: Number of forfeitable shares:
David Miller 3 990
Nature of interest Indirect Beneficial
TRANSACTIONS IN INVESTEC LIMITED ORDINARY SHARES OF ZAR0.0002 EACH (the "INVESTEC
LIMITED ORDINARY SHARES")
1. Interests in Investec Limited Ordinary Shares – PDMRs and Directors of Major Subsidiaries
On 28 May 2026, Investec made the following award in respect of ordinary shares in the capital of
Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan 2021 (the
"Plan):
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Rupesh Govan
2 Reason for the notification
a) Position/status Director of Major Subsidiary
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Investec Limited
b) LEI 213800CU7SM6O4UWOZ70
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument,
type of instrument Ordinary shares of ZAR0.0002 each
Identification code ZAE000081949
b) Nature of the transaction 1. Award of forfeitable shares representing a component
of Short-Term Incentive pursuant to the Investec Ltd
Share Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 1 to 3 from award with no
further retention requirements.
2. Award of forfeitable shares representing Long Term
Incentive pursuant to the Investec Ltd Share Incentive
Plan 2021. Issued for nil consideration with deferred
vesting from years 3 to 5 with no further retention
requirements. The director is entitled to elect that a
portion of this award be transferred to a share
appreciation rights award type, the details of which will
be included in a subsequent announcement.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 10 267
2. Nil 22 319
e) Aggregated information
- Aggregated volume 32 586
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Joubert Hay
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec Limited
b) LEI 213800CU7SM6O4UWOZ70
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument,
type of instrument Ordinary shares of ZAR0.0002 each
Identification code ZAE000081949
b) Nature of the transaction
1. Award of forfeitable shares representing a
component of Short-Term Incentive pursuant to the
Investec Ltd Share Incentive Plan 2021. Issued for nil
consideration with deferred vesting in years 1 to 3
from award with no further retention requirements.
2. Award of conditional performance shares representing
Long Term Incentive pursuant to the Investec Ltd
Share Incentive Plan 2021. Issued for nil
consideration with a performance period from 1 April
2026 to 31 March 2029 with deferred vesting in years
3 to 5 from award with no further retention
requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
1. Nil 59 054
2. Nil 26 894
e) Aggregated information
- Aggregated volume 85 948
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Lourens Janse van Rensburg
2 Reason for the notification
a) Position/status PDMR
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a) Name Investec Limited
b) LEI 213800CU7SM6O4UWOZ70
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument,
type of instrument Ordinary shares of ZAR0.0002 each
Identification code ZAE000081949
b) Nature of the transaction
1. Award of forfeitable shares representing a
component of Short-Term Incentive pursuant to the
Investec Ltd Share Incentive Plan 2021. Issued for nil
consideration with deferred vesting in years 1 to 3
from award with no further retention requirements.
2. Award of forfeitable shares representing Long Term
Incentive pursuant to the Investec Ltd Share
Incentive Plan 2021. Issued for nil consideration with
deferred vesting in years 3 to 5 with no further
retention requirements. The PDMR is entitled to elect
that a portion of this award be transferred to a share
appreciation rights award type, the details of which
will be included in a subsequent announcement.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
3. Nil 107 127
4. Nil 59 515
e) Aggregated information
- Aggregated volume 166 642
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Bradley Gatter
2 Reason for the notification
a) Position/status Person closely associated with PDMR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Investec Limited
b) LEI 213800CU7SM6O4UWOZ70
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have
been conducted
a) Description of the financial instrument,
type of instrument Ordinary shares of ZAR0.0002 each
Identification code ZAE000081949
b) Nature of the transaction Award of forfeitable shares representing Long
Term Incentive pursuant to the Investec Ltd Share
Incentive Plan 2021. Issued for nil consideration
with deferred vesting in years 3 to 5 with no further
retention requirements.
c) Nature of interest Indirect Beneficial
d) Price(s) and volume(s)
Price(s) Volume(s)
Nil 4 836
e) Aggregated information
- Aggregated volume 4 836
- Price Nil
f) Date of the transaction 28 May 2026
g) Place of the transaction Johannesburg
2. Interests in Investec Limited Ordinary Shares – Company Secretary
In compliance with paragraphs 6.77 to 6.89 of the JSE Listings Requirements, we advise of the
following changes to attributable interests in Investec Limited by the Company Secretary:
On 28 May 2026, Investec made forfeitable share awards in respect of ordinary shares in the capital
of Investec Limited for nil consideration pursuant to the Investec Limited Share Incentive Plan 2021.
These forfeitable share awards vest in three equal tranches in the third, fourth and fifth years from the
date of award:
Company Secretary: Number of Forfeitable shares:
Niki van Wyk 3 990
Nature of interest Indirect Beneficial
Clearance was obtained for the above awards granted.
London and Johannesburg
29 May 2026
Sponsor
Investec Bank Limited
Date: 29-05-2026 04:30:00
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