Eqt Holdings Ltd. · ASX:EQT
Eqt — Merger or Acquisition (February 2013)
12 slides from Eqt's merger presentation, Feb 21, 2013
Slide 1: Takeover offer for The Trust Company
For personal use only Takeover offer for The Trust Company Investor Presentation – 21 February 2013
Slide 2: EQT + TRU = a value adding combination
EQT + TRU = a value adding combination For personal use only Creation of a leading Australasian private and corporate trustee services provider – fulfilling a long-standing corporate opportunity for consolidation and efficiency gains. Substantial synergies Increased Complementary market presence bus
Slide 3: Overview of the Offer
Overview of the Offer For personal use only Equity Trustees is offering a headline premium, which will be enhanced as all shareholders participate in the benefits generated by the combined entity. • 33 EQT shares for every 100 TRU shares • The Offer values TRU at $5.28 per share1 – Premium of 11.2%
Slide 4: Profile of the two companies
Profile of the two companies For personal use only The two companies each possess a long and distinguished record operating in essentially the same fields, ensuring close cultural alignment. • Established in 1888 • Established in 1885 • Head office in Melbourne • Commenced business in Melbourne • Pr
Slide 5: Operational synergies
Operational synergies For personal use only Synergies of up to $8m p.a. are estimated to be available through the rationalisation of duplicated administrative, business and corporate costs. • EQT and TRU are complementary businesses that provide the opportunity to realise significant savings • Cost
Slide 6: Scale and Diversification
Scale and Diversification For personal use only Clients and employees will benefit from being associated with a larger, more diversified organisation with deeper resources, broader scope and a wider range of high-quality services. Stronger & Equity Trustees Trust Company Diversified Group $144m1 $15
Slide 7: Governance
Governance For personal use only The Combined Group will have a strong Board and skilled management. • Board • Management – EQT’s Directors have a broad range of skills – Robin Burns, the current CEO and Managing and experience to govern the company Director of EQT, will continue to lead the – JA (T
Slide 8: Ownership
Ownership For personal use only Following the takeover, former TRU shareholders will own 59% of the Combined Group and EQT shareholders will own the balance1. Current shares on issue No. of shares EQT shares1 8,973,198 TRU shares2 33,538,449 Combined Group No. of shares3 % EQT shareholders (no chang
Slide 9: Other considerations
Other considerations For personal use only • Branding – Both companies enjoy a long and distinguished heritage – with Trust Company’s roots established in 1885 in Melbourne and Equity Trustees commencing 3 years later in 1888 – As part of the integration process, a review will be completed to determ
Slide 10: Offer Conditions
Offer Conditions For personal use only The full list of Offer Conditions are contained in the Appendix of EQT’s ASX announcement dated 21 February 2013. • EQT is not seeking exclusivity, due diligence nor the payment of break fees as part of the Offer • The Offer is conditional on (amongst other thi
Slide 11: Summary
Summary For personal use only • The transaction fulfils a long-standing corporate opportunity for consolidation and efficiency gains between TRU and EQT • Together, the two companies will be a significantly greater force in our chosen market segments, able to operate with greater cost-efficiency and
Slide 12: Disclaimer
Disclaimer For personal use only Equity Trustees Limited ABN 46 004 031 298, Australian Financial Services Licence No 240975. This document was prepared by Equity Trustees Limited and is only provided for information purposes. It is not intended to take the place of professional advice and you shoul