Sound corporate governance is implicit in Investec’s values, culture, processes, functions and organisational structure.
Integrity and trust
Integrity is our core value and determines everything we do. This is because we understand and respect the need to promote and maintain trust in our business.
Our board sets the tone through the manner in which it conducts itself, and oversees the structures and framework for our corporate governance.
Equally, each business area and every employee of the group is responsible for acting in accordance with our values. We conduct our business and measure behaviour and practices against these values.
We operate under a dual-listed companies (DLC) structure, and consider the corporate governance principles and regulations of both the UK and South Africa before adopting the appropriate standards for the group, which comply with requirements in both jurisdictions.
All international business units operate in accordance with the above determined corporate governance principles, in addition to those of their jurisdiction, but with clear adherence at all times to group values and culture.
Lord Davies' recommendations - Investec positioning statement
The Nomination and Directors' Affairs Committee notes Lord Davies' recommendations in his report Women on Boards which highlight the need for more female representation on boards and further notes it is the aspiration of the Investec Board to achieve 25% female representation by 2015.
Investec has a Dual Listed Companies (DLC) corporate
In November 2001, we received permission from the Minister of Finance and the South African Reserve Bank to establish a Dual Listed Companies (DLC) structure with linked companies listed in London and Johannesburg.
Establishment of a DLC structure
On 5 July 2002, Investec issued an Offering Circular relating to the Global Offer of ordinary shares in Investec plc, the admission to the Official List of the UK Listing Authority and the admission to trading on the London Stock Exchange of ordinary shares.
A circular to shareholders regarding the establishment of a DLC structure was issued on 20 June 2002.
Furthermore, an Offering Circular, relating to the Global Offer of ordinary shares in Investec plc and the admission to the Official List of the UK Listing Authority and admission to trading on the London Stock Exchange of such ordinary shares was issued on 5 July 2002. The Global Offer closed on 19 July 2002.
The contents of the circular to shareholders and the Offering Circular were prepared as at 20 June 2002 and 5 July 2002 respectively.
Note: All shareholdings are 100% unless otherwise stated. *16% is held by senior management in the company. Only main operating subsidiaries are indicated.
Investec Limited corporate structure
Note: All shareholdings are 100% unless otherwise stated.
* 16% is held by senior management in the company. Only main operating subsidiaries are indicated.
** Previously Investec Equity Partners (Pty) Ltd
^ 55% held by third party investors in the company together with senior management of the business.