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Marketplace News|
Tuesday, December 6, 2005 - Web posted at 8:44:26 GMT Investec buys back 600 000 shares JOHANNESBURG - South African investment banking and asset management group Investec Plc said yesterday it had bought back almost 600 000 shares from investors holding less than 100 of the company's stock after deciding to proceed with its so-called off-lot offer. |
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London-listed Investec said it had bought 305 120 of its UK-listed shares back from shareholders who elected to sell and 285 010 of its Johannesburg-listed Investec Ltd. Shares. Investec offered 277,65 rand per share to odd-lot holders of Investec Ltd shares, 24,28 pounds per share for holders of its London-listed shares and 284,71 rand per share for holders of the South African-listed Investec Plc shares. Investec had cautioned on November 22 that it was reconsidering the offer, saying the costs of implementing the deal had increased significantly after number of shareholders holding less than 100 Investec shares rose sharply since it made the transaction public. - Nampa-Reuters |
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