Omni Bridgeway Ltd · ASX:OBL

Omni Bridgeway — Bentham IMF — FY2014 Earnings Presentation

14 slides from Omni Bridgeway's earnings presentation, August 2014

  1. Slide 1: Investor Presentation August 2014

    INVESTOR PRESENTATION August 2014

  2. Slide 2: Contents

    CONTENTS  FY2014 Highlights  FY2014 Income  Balance Sheet Strength  Dividend  Investment Portfolio at 30 June 2014  Investment Portfolio History  Possible Completions in FY2015  New Cases  Select Case Updates  Track Record  Future Outlook 2

  3. Slide 3: FY2014 Highlights

    FY2014 HIGHLIGHTS FY2013 FY2014 % Gross Income (from cases) $43.9M $75.9M  73% Net Income (from cases) $24.6M $25.3M  3% NPBT $20.1M $15.6M  23% NPAT $13.8M $9.9M  29% Dividends (cents per share) 5 cents 10 cents  5 cents EPS 11.21 6.56  41% Net Asset Backing $1.02 $1.16  14% Case Investment

  4. Slide 4: FY2014 Income

    FY2014 INCOME MATTER GROSS INCOME NET INCOME Lehman Australia $32.0M $19.7M Downer $11.3M $10.1M Great Southern $12.3M $7.7M MCC Mining $5.0M $1.8M Air Cargo $7.3M $1.6M Hastings Capital $2.0M $1.1M Bank of Queensland - ($15.4M) Others $6.0M ($0.6M) Total Matter Income $75.9M $26.0M 4

  5. Slide 5: Balance Sheet Strength

    BALANCE SHEET STRENGTH Cash Investments1 Net Assets $M $M $M $105.57 $98.64 $191.13 2 $86.13 $67.98 $66.00 $62.40 $125.50 $59.63 $55.01 $111.70 $42.99 $40.49 $87.19 $72.54 FY10 FY11 FY12 FY13 FY14 FY10 FY11 FY12 FY13 FY14 FY10 FY11 FY12 FY13 FY14 1 Investments includes capitalised overheads relating

  6. Slide 6: Dividend

    DIVIDEND Dividend History Future Dividend Policy DATE CENTS PER  The Directors have determined they will SHARE consider, and where appropriate FY2010 5 Fully franked implement, a regular semi-annual dividend which reflects the cash position of the FY2011 15 Fully franked Company at the time of the

  7. Slide 7: Investment Portfolio at 30 June 2014

    INVESTMENT PORTFOLIO AT 30 JUNE 2014 No % of Possible Possible Possible Claim Value Est. Claim of Total Completion Completion Completion Range Value1 Cases Value FY20152 FY20162 FY20172 <$10M $32M 6 2% $25M $7M – $10M - $50M $395M 14 19% $200M $35M $160M >$50M $1,640M 10 79% $475M $700M $465M Total

  8. Slide 8: Investment Portfolio History

    INVESTMENT PORTFOLIO HISTORY IMF Case Investment Portfolio 2500 2000 1500 Portfolio ($m) 1000 500 0 30 June 2010 30 June 2011 30 June 2012 30 June 2013 30 June 2014 Financial Year Ending 8

  9. Slide 9: Possible Completions in FY2015

    POSSIBLE COMPLETIONS IN FY2015 Below is a list of matters that have completed or may complete in FY2015. Other matters may also complete in that period. Matter Description Premium Income A class action by unitholders and an action by the Responsible Entity against auditors of the Fund Premium Income

  10. Slide 10: Possible Completions in FY2015

    POSSIBLE COMPLETIONS IN FY2015 Matter Description Bank Fees  On 4 February 2014 Justice Gordon delivered judgment in the Bank Fees matter.  The findings in favour of IMF's clients were that late payment fees were penalties at law and that certain inter account exception fees had been charged by th

  11. Slide 11: New Cases

    NEW CASES 8 new cases were funded in FY2014 (with a claim size in the portfolio of $765M). Matter Description Wivenhoe  Long investigation phase and proceedings were filed on 8 July 2014.  Class action alleging the Dam was negligently operated and that material flooding would not have occurred had

  12. Slide 12: Select Case Updates

    SELECT CASE UPDATES Matter Update Rivercity  Class action by persons who purchased units under the product disclosure statement alleging that the traffic forecasts in the PDS were misleading and deceptive and omitted information.  Multiple interlocutory disputes. Expert evidence being served.  Tr

  13. Slide 13: Track Record

    TRACK RECORD IMF’s track record to 30 June 2014 Settlements Summary  159 cases commenced and completed since Won listing.  Average investment period of 2.3 years.  Generated revenue of $1.47B:  $957M to Clients (65%); 14  $514M to IMF comprising: 104 159 Cases • $189M reimbursement of costs (13

  14. Slide 14: Future Outlook

    FUTURE OUTLOOK  Further development of international funding platform:  Expansion in the US (new staff, more cases).  Expansion in the UK and Europe (joint venture).  Funding in Hong Kong (focus on insolvency cases).  Building the investment portfolio above $2B claim size.  New managing direct

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