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DJ Investec Nominates PwC as New Joint Auditor After Shareholder Protest

· 02/05/2021 11:07

By Matteo Castia

Investec said Friday that it has nominated PricewaterhouseCoopers as new joint external auditors with effect from April 1, 2023, after some shareholders objected to the reappointment of KPMG.

The London- and Johannesburg-listed financial services company said it will recommend the appointment of PwC at the annual general meeting in August 2022.

On Aug. 6, 2020, the resolution to re-appoint KPMG as joint auditors of Investec Ltd. was approved with less than 80% of votes cast at the annual general meeting.

The company also said it has consulted with shareholders on remuneration after its remuneration report was approved by less than 80% of votes cast.

Investec has a dual-listed structure under the names of Investec PLC and Investec Ltd.

Shares in London at 1600 GMT were up 7.55 pence, or 3.8%, at 205.80 pence.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

February 05, 2021 11:07 ET (16:07 GMT)

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