Katana Capital Ltd. · ASX:KAT
Katana Capital — Shareholder Meeting (November 2008)
15 slides from Katana Capital's shareholder meeting presentation, Nov 13, 2008
Slide 1: Katana Capital Ltd – AGM Presentation
For personal use only Katana Capital Ltd – AGM Presentation 12th November 2008 Presentation byy : Brad Shallard Matthew Ward www.katanacapital.com.au
Slide 2: Disclaimer
Disclaimer For personal use only The information contained in this presentation is provided to each recipient on the following basis: a) this presentation has been produced by Katana Asset Management PL (KAM) This presentation does not purport p p to contain all the information that the recipient p
Slide 3: Investment Update
Investment Update For personal use only The Managers of Katana Capital continue to endorse the g macro themes: following 1. Medium term growth in resources specifically energy/food 2. Continued outsourcing benefiting resource and industrial servicing companies 3. Ageing population/Superannuation sup
Slide 4: Top Holdings as at 31/10/2008
Investment Update For personal use only Top 10 Holdings as at 31/10/2008 Stock $ Value % of Portfolio BHP Billiton Limited $2,574,000 9.6% Mineral Resources Limited $1,534,000 5.7% Woodside Petroleum Limited $1,294,800 , , 4.8% Rio Tinto Limited $1,005,160 3.7% Brierty Limited $974,380 3.6% Global C
Slide 5: Revenue Generation
Investment Update For personal use only Investment Revenue Generation Dividends Interest Other 5% 1% 14% Options 1% Equities 79% ‘Equities’ includes only realised capital gains between 1/7/07 and 30/6/2008
Slide 6: % of Portfolio Invested
Investment Update For personal use only % of Portfolio Invested 100.00% 90.00% 80 00% 80.00% Portfolio 70.00% 60.00% 50 00% 50.00% % of P 40.00% 30.00% 20.00% 10 00% 10.00% 0.00% Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Month Cash Invested
Slide 7: Global economic growth outlook
Investment Update For personal use only Global economic growth will slow in 2009 with a modest increase in the latter part of 2009 Global annual g growth rate has averaged g 3.7% over the past p 30 years y Global economic growth (%) Weight 2006(a) 2007(a) 2008(e) 2009(f) 2010(f) US 0.25 3.3 1.9
Slide 8: International Economy and Expectations
Investment Update For personal use only • International Economy – Global economic growth is stagnating in the developed nations – Slower growth in the emerging ‘BRIC’ economies – Equity and debt finance much more expensive and less available – Lower consumer and business confidence, rising unemploym
Slide 9: For personal use only
Investment Update For personal use only Source: Goldman Sachs JB Were
Slide 10: 1. Sizeable Discount to NTA
1. Sizeable Discount to NTA For personal use only Last reported NTA (as at 30/09/08) – $0.91 after all expenses including tax on realised gains – $0.88 after allowing for potential CGT Last traded price of $0.53 represents a 41.4% discount to the before tax 30 September 2008 NTA Strong upside from c
Slide 11: 2. Strong Long-Term Record
2. Strong Long-Term Record For personal use only Year Average All Ords Out Ending Return Index Performance 2003 35.46% 8.47% 318.65% 2004 28.97% 15.69% 84.64% 2005 89.83% 24.98% 259.61% 51.42% 16.38% 220.97% 2006 9.95% 6.90% 44.20% 2007 49.03% 25.36% 93.34% 2008 -6.41% 6 41% -15.49% 15 49% 58 62% 58
Slide 12: 3. Deal & Information Flows
3. Deal & Information Flows For personal use only • Bell Potter Securities Limited – Largest g Australia retail broker • UBS Limited – Largest international broker • Other Ot e Dealer ea e Groups G oups – Currently approximately 20 brokers servicing Katana • Expanded Team – Matt Ward has joined the
Slide 13: 4. Consistent Dividends
4. Consistent Dividends For personal use only Date Cents Per Type Share 20-November-2008 1 F 30-April -2008 2 I 09 O t 2007 09-Oct-2007 25 2.5 F 20-Apr-2007 2 I 20-Apr-2007 2 S 17-Oct-2006 1.5 F • Katana paid a total of 3c for the 2008FY • Future dividends are expected to be fully franked • A divide
Slide 14: 5. Extensively Diversified Portfolio
5. Extensively Diversified Portfolio For personal use only Diversification reduces risk Diversification enables a long term holding to be established through one vehicle that actively manages: – Asset allocation – Sector allocation – Economic cycle y (timing) ( g) decisions ((All Opportunities pp Fu
Slide 15: Katana Capital Ltd – Questions
For personal use only Katana Capital Ltd – AGM Presentation Questions www.katanacapital.com.au