Seek Limited · ASX:SEK
Seek — Merger or Acquisition (December 2010)
11 slides from Seek's merger presentation, Dec 23, 2010
Slide 1: Investment in JobsDB
For personal use only Investment in JobsDB December 2010
Slide 2: Disclaimer
Disclaimer For personal use only Summary information The following disclaimer applies to this document and any information provided regarding the information contained in this document (the “Information”). The Information in this presentation is of general background and does not purport to be compl
Slide 3: Introduction
Introduction For personal use only • Creation of SEEK Asia, a SEEK controlled and majority owned subsidiary - Other investors in SEEK Asia are Consolidated Media Holdings, Macquarie Capital and Tiger Global • SEEK Asia has executed a share purchase agreement to acquire 60% of Jobs DB Inc. (“JobsDB”)
Slide 4: The JobsDB transaction is consistent with our strategy to invest in leading online employment businesses
The JobsDB transaction is consistent with our strategy to invest in leading online employment businesses in high growth regions For personal use only 1 Comprises SEEK Asia’s 60% ownership. 2 CJOL currently owned 51.88% by JobsDB with acquisition of a further 23.7% by JobsDB pending. 3 Job88 is 100%
Slide 5: JobsDB – Investment highlights
JobsDB – Investment highlights For personal use only Leading online employment network in Asia with #1 or #2 positions in key SE Asian territories Attractive regional macroeconomic thematics with significant headroom for growth in the online employment space Track record of strong long-term growth i
Slide 6: JobsDB is a leading online recruitment website in Hong Kong and high growth SE Asia territories
JobsDB is a leading online recruitment website in Hong Kong and various high growth SE Asia territories For personal use only Business Snapshot • Launched original recruitment network in Hong Kong in 1998 • Grown to become a leading recruitment network in SE Asia with substantial positions across a
Slide 7: JobsDB operates in countries with strong economic growth prospects
JobsDB operates in countries with strong economic growth prospects and significant scope for growth in the employment classified sector For personal use only Thailand China Population: 64.7m Population: 1,328m Labour force: 37.8m Labour force: 793m Unemployment: 2% Unemployment: 4% 10F GDP growth: 5
Slide 8: Transaction details
Transaction details For personal use only Acquisition of 60% shareholding in JobsDB • Creation C ti off SEEK A Asia i – acquisition i iti vehicle hi l ffor SEEK SEEK, CMH, CMH Macquarie M i and d Tiger Ti - Majority owned by SEEK (69%) with the remainder owned by CMH, Macquarie and Tiger • SEEK Asia
Slide 9: Transaction details (continued)
Transaction details (continued) For personal use only Funding overview • SEEK’s investment to be funded through a new A$340 million bank debt facility - Revolving unsecured senior debt facility - Fully underwritten by NAB - 3 year term - Key terms / covenants remain largely unchanged - SEEK / NAB to
Slide 10: JobsDB's strong management team will be supported by strategic oversight from SEEK
JobsDB's strong management team will be supported by strategic oversight from SEEK For personal use only JobsDB is a well run business with robust financial systems and a strong senior management team SEEK s senior management team will work closely with the JobsDB team through the SEEK's ownership t
Slide 11: Questions
For personal use only 10 QUESTIONS