Integrated Annual Report 2015

Shareholder analysis

Investec ordinary shares

As at 31 March 2015, Investec plc and Investec Limited had 613.6 million and 285.7 million ordinary shares in issue respectively.

Spread of ordinary shareholders as at 31 March 2015

Investec plc ordinary shares in issue

Number of
shareholders
Holdings % of total
shareholders
Number of
shares in issue
% of issued
share capital
13 872  1 – 500  52.9% 2 455 958  0.4%
4 284  501 – 1 000  16.4% 3 306 452  0.5%
5 224  1 001 – 5 000  19.9% 11 904 952  1.9%
960  5 001 – 10 000  3.7% 7 021 993  1.1%
1 013  10 001 – 50 000  3.9% 23 509 064  3.8%
297  50 001 – 100 000  1.1% 21 028 850  3.4%
542  100 001 and over 2.1% 544 382 373  88.9%
26 192    100.0% 613 609 642  100.0%

Investec Limited ordinary shares in issue

Number of
shareholders
Holdings % of total
shareholders
Number of
shares in issue
% of issued
share capital
3 018  1 – 500  41.1% 656 916  0.2%
1 320  501 – 1 000  18.0% 1 022 894  0.4%
1 716  1 001 – 5 000  23.4% 3 966 211  1.4%
379  5 001 – 10 000  5.2% 2 821 930  1.0%
517  10 001 – 50 000  7.0% 12 611 455  4.4%
154  50 001 – 100 000  2.1% 11 035 521  3.8%
238  100 001 and over 3.2% 253 633 696  88.8%
7 342    100.0% 285 748 623  100.0%


Geographical holding by beneficial ordinary share owner as at 31 March 2015

Geographical holding by benecial ordinary share owner as at 31 March 2015

Largest ordinary shareholders as at 31 March 2015

In accordance with the terms provided for in section 793 of the UK Companies Act, 2006 and section 56 of the South African Companies Act, 2008, as amended, the group has conducted investigations into the registered holders of its ordinary shares (including nominee and asset management companies) and the results are as discussed below.

Investec plc

Shareholder analysis by manager group Number of
shares
% holding
1. Public Investment Corporation (ZA) 44 869 699  7.3%
2. Allan Gray (ZA) 40 919 413  6.7%
3. BlackRock Inc (UK and US) 30 602 600  5.0%
4. Sanlam Group (ZA) 23 730 568  3.9%
5. Old Mutual (ZA) 23 168 373  3.8%
6. T Rowe Price Associates (UK) 20 065 100  3.3%
7. Prudential Group (ZA) 19 544 351  3.2%
8. Legal & General Investment Mgt (UK) 15 362 770  2.5%
9. Royal London Mutual Assurance Society (UK) 15 278 506  2.5%
10. State Street Corporation (UK and US) 14 887 417  2.4%
    248 428 797  40.5%


The top 10 shareholders account for 40.5% of the total shareholding in Investec Limited. This information is based on a threshold of 20 000 shares. Some major fund managers hold additional shares below this, which may cause the above figures to be marginally understated.

Investec Limited

Shareholder analysis by manager group Number of
shares
% holding
1. Public Investment Corporation (ZA) 34 960 421  12.2%
2. Old Mutual (ZA) 21 575 597  7.6%
3. Investec Staff Share Scheme (ZA) 21 172 494  7.4%
4. Sanlam Group (ZA) 15 804 721  5.5%
5. Allan Gray (ZA) 14 322 145  5.0%
6. Entrepreneurial Development Trust (ZA)* 11 793 607  4.1%
7. BlackRock Inc (UK and US) 10 695 017  3.7%
8. Dimensional Fund Advisors (UK) 10 281 382  3.6%
9. Vanguard Group (US and UK) 7 846 243  2.7%
10. MMI Holdings (ZA) 7 178 025  2.5%
    155 629 652  54.5%


The top 10 shareholders account for 54.5% of the total shareholding in Investec plc. This information is based on a threshold of 20 000 shares. Some major fund managers hold additional shares below this, which may cause the above figures to be marginally understated.


Shareholder classification as at 31 March 2015

  Number of 
Investec plc 
shares 
% holding  Number of 
Investec 
Limited 
shares 
% holding 
Public* 593 522 426  96.7% 258 209 089  90.4%
Non-public 20 087 216  3.3% 27 539 534  9.6%
Non-executive directors of Investec plc/Investec Limited 3 650 183  0.6% 325  – 
Executive directors of Investec plc/Investec Limited 8 111 062  1.3% 6 366 715  2.2%
Investec staff share schemes 8 325 971  1.4% 21 172 494  7.4%
Total 613 609 642  100.0% 285 748 623  100.0%

Share statistics

Investec plc

For the period ended 31 March  2015  31 March
 2014 
31 March
  2013 
31 March
  2012 
31 March
  2011 
31 March
  2010 
31 March
  2009 
Closing market price per share (Pounds)              
– year ended 5.61  4.85  4.59  3.82  4.78  5.39  2.92 
– highest 6.06  5.08  5.14  5.22  5.50  5.62  4.21 
– lowest 4.91  3.66  3.10  3.18  4.29  2.87  1.69 
Number of ordinary shares in issue (million)1  613.6  608.8  605.2  598.3  537.2  471.1  444.9 
Market capitalisation (£’million)1  3 442  2 953  2 778  2 286  2 568  2 539  1 299 
Daily average volumes of share traded (’000) 2 170  1 985  1 305  1 683  1 634  1 933  2 604 
Price earnings ratio2  14.2  12.8  12.7  12.0  11.1  12.0  6.9 
Dividend cover (times)2  2.0  2.0  2.0  1.9  2.5  2.8  3.3 
Dividend yield (%)2  3.5  3.9  3.9  4.5  3.6  3.0  4.5 
Earnings yield (%)2  7.0  7.8  7.9  8.3  9.0  8.4  14.5 


Investec Limited

For the period ended 31 March  2015  31 March
 2014 
31 March
  2013 
31 March
  2012 
31 March
  2011 
31 March
  2010 
31 March
  2009 
Closing market price per share (Rands)              
– year ended 100.51  84.84  64.26  47.16  52.80  62.49  38.86 
– highest 107.35  85.04  69.89  57.36  65.50  65.40  63.19 
– lowest 86.02  59.00  41.31  42.00  49.49  37.51  27.20 
Number of ordinary shares in issue (million)3  285.7  282.9  279.6  276.0  272.8  269.8  268.4 
Market capitalisation (R’million)3  90 388  75 652  56 857  41 232  42 768  46 299  27 715 
Market capitalisation (£’million)3  5 045  4 325  4 061  3 340  3 872  3 378  2 083 
Daily average volume of shares traded (’000) 739  810  980  1 033  794  1 068  1 168 

Investec perpetual preference shares

Investec plc, Investec Limited and Investec Bank Limited have issued perpetual preference shares.

Spread of perpetual preference shareholders as at 31 March 2015

Investec plc perpetual preference shareholders

Number of
shareholders
Holdings % of total
shareholders
Number of
preference
shares in issue
% of issued
preference
share capital
135  1 – 500  12.6% 35 263  0.2%
156  501 – 1 000  14.6% 128 958  0.9%
521  1 001 – 5 000  48.8% 1 108 245  7.3%
79  5 001 – 10 000  7.4% 600 669  4.0%
117  10 001 – 50 000  11.0% 2 556 637  17.0%
30  50 001 – 100 000  2.8% 2 108 240  14.0%
30  100 001 and over 2.8% 8 543 137  56.6%
1 068    100.0% 15 081 149  100.0%


Investec plc (Rand denominated) perpetual preference shareholders

Number of
shareholders
Holdings % of total
shareholders
Number of
preference
shares in issue
% of issued
preference
share capital
85  1 – 500  23.0% 23 417  1.0%
71  501 – 1 000  19.2% 55 451  2.4%
150  1 001 – 5 000  40.4% 340 114  15.0%
26  5 001 – 10 000  7.0% 189 132  8.3%
28  10 001 – 50 000  7.6% 543 226  23.9%
50 001 – 100 000  1.4% 370 903  16.3%
100 001 and over 1.4% 753 697  33.1%
370    100.0% 2 275 940  100.0%


Investec Limited perpetual preference shareholders

Number of
shareholders
Holdings % of total
shareholders
Number of
preference
shares in issue
% of issued
preference
share capital
851  1 – 500  15.7% 278 159  0.9%
1291  501 – 1 000  23.8% 1 104 921  3.4%
2445  1 001 – 5 000  45.0% 5 759 366  17.9%
421  5 001 – 10 000  7.8% 3 013 111  9.4%
362  10 001 – 50 000  6.7% 7 040 681  21.9%
22  50 001 – 100 000  0.4% 1 723 855  5.4%
37  100 001 and over 0.7% 13 294 406  41.3%
5 429    100.0% 32 214 499  100.0%


Investec Limited redeemable preference shareholders

Number of
shareholders
Holdings % of total
shareholders
Number of
preference
shares in issue
% of issued
preference
share capital
867  1 – 500  90.0% 121 181  20.4%
60  501 – 1 000  6.3% 41 620  7.0%
27  1 001 – 5 000  2.8% 57 709  9.7%
5 001 – 10 000  0.2% 18 000  3.0%
10 001 – 50 000  0.5% 77 959  13.1%
50 001 – 100 000  0.1% 100 000  16.8%
100 001 and over 0.1% 177 493  30.0%
963    100.0% 593 962  100.0%


Investec Bank Limited perpetual preference shareholders

Number of
shareholders
Holdings % of total
shareholders
Number of
preference
shares in issue
% of issued
preference
share capital
812  1 – 500  21.2% 235 948  1.5%
1 081  501 – 1 000  28.2% 953 728  6.4%
1 476  1 001 – 5 000  38.5% 3 525 606  22.8%
245  5 001 – 10 000  6.4% 1 810 119  11.7%
180  10 001 – 50 000  4.7% 3 296 473  21.3%
16  50 001 – 100 000  0.4% 1 167 111  7.5%
23  100 001 and over 0.6% 4 458 645  28.8%
3 833    100.0% 15 477 630  100.0%


Largest perpetual preference shareholders as at 31 March 2015

Shareholders holding beneficial interests in excess of 5% of the issued preference shares are as follows:

Investec plc perpetual preference shares

Pershing Nominees Limited 5.6%

Chase Nominees Limited (Artemis)

10.6%

Investec plc (Rand denominated) perpetual preference shares

NES Investments (Pty) Limited 5.3%
Liberty Active Investment 6.5%
Regent Insurance Company 6.6%

Standard Chartered Bank – Cadiz Absolute Yield fund

9.6%

Investec Limited perpetual preference shares

Standard Chartered Bank – Coronation Capital Plus fund 5.2%

Standard Chartered Bank – Coronation Strategic Income fund

5.2%

Investec Limited redeemable preference shares

Investec Securities (Pty) Limited 8.6%

National Savings and Investment (Pty) Limited

24.5%

Investec Bank Limited perpetual preference shares

There were no shareholders holding beneficial interests in excess of 5% of the issued preference shares in Investec Bank Limited as at 31 March 2015.

 

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