Aspen Group Limited · ASX:APZ
Aspen — Investor Presentation (December 2005)
13 slides from Aspen's investor presentation, Dec 19, 2005
Slide 1: Funds Management Update & $22M Institutional Placement
Funds Management Update A & $22M Institutional Placement 5 ne December 2005 Disclaimer. This presentation has been prepared by Aspen Group (“Aspen”) in connection with a proposed offer of stapled securities in Aspen. This presentation and its contents have bean distributed in confidence and may not
Slide 2: Introduction
Introduction Aspen Group - Overview Funds Management Overview Aspen Diversified Property Fund Aspen Dunsborough Lakes Asperi Parks Property Fund Capital Raising Timetable Reasons to invest Aspen has acquired $215M of new property for its funds management business in the past three months $22M of new
Slide 3: $189M Portfolio of diversified property + funds with $328M GAUM
$189M Portfolio of diversified property + 4 funds with $328M GAUM assets - Asper Parks + Property assets characterised by strong ~ Aspen Diversified income security through high quality Bunsborough Lakes tenants and long term leases ~ Living Village * 6. fyrs WALE + Acquisition, management, developm
Slide 4: Fund Overview
Fund Fund Overview Aspen GAUM lvivestrent Aspen Parks + Launched Aprlt 2004 to acquire caravan parks 19.9% $85M + Presently owns 13 parks, 10 of which are waterfront + 800 investors recelving 10% yield * Fund currently closed, anticipate a new offer In FYOE Aspen Diversified * Launched April 2005 to
Slide 5: Aspen Diversified Property Fund
Aspen. Diversified Property Fund Mount Street Property 80 Mount Street, North Sydney, NSW Description Commercial office tower with 14 levels of office space, ground floor retail and 3 levels of basement parking Purchase Price $34M Net Lettable Area 6,269sqm Passing Netincome — $2.4M Passing Yield 8.
Slide 6: Holeproof and Portfolio Summary
Holeproot Property 72.96 Station Street, Nunawading, vic Description Distribution centre with 19,580sqm of industrial NLA and 2,.507sqm of office NLA Purchase Price $28M Not Lettabie Area 22,086sqm Passing Netincome $2.7 Passing Yield 9.75% Valuation $28M {CBRE} Major Tenants Pacific Brands Ltd Sett
Slide 7: Aspen Dunsborough Lakes Ltd acquisition
Aspen is establishing Aspen Dunsborough Lakes Ltd to acquire the 230ha Dunsberough Lakes golf estate for $93.7M The project will be capitalised at $103M, funded with 58% bank debt and 42% equity In respect of the equity investment of $40M: - Aspen will co-invest SEM - Asper is in discussions with po
Slide 8: Dunsborough Lakes Economics
2n.Dunsborough | Dunsborough Lakes Economics » Anticipating net sales of c$392M over project life » Forecast project profit of c$114M, with anticipated pre-tax IRR of 20% for investors » Forecasting sales of 10 lots per month for remaining term of project, at average price of $212,000 » Aspen Fee St
Slide 9: Aspen Parks Update and Placement Terms
Update Locotios: of properties owned by Aspen Parks + The 4 acquisitions announced in j September have been settled: 50% interest in Monkey Mia, Shark Bay for $M - Wailamba Caravan Park, Forster for $4.2M Shatlimar Ski and Caravan Park, Forster for $3.7M Yarraby, Echuca for $9.25M = $85M GAUM » Purs
Slide 10: Placement proceeds and bank debt use
+ Placement proceeds and bank debt to be used as follows: $5M equity investment in Diversified Fund > 8.75% yield $17M underweiting loan to Diversified Fund > 16.75% interest rate out performance $12M underwriting fear to Dursborough Lakes > 8.5% interest rate » Underwriting loan to Diversified Fund
Slide 11: Capital Raising Financial Impact
/..Capital_-Raising-Fina + Underwriting loans to furids comprises: Balance Sheet ; 4Beces — 1 Dee 08 Aspen Parks $4.1M Current Pro Forse Diversified Fund $27.4M Property investments Dunsborough $42.0M + Direct 188.8 188.8 Aspen Living $2.0M + Indirect 43.5 26.5 Shortt . . . to 46% Loans to Funds: 6.
Slide 12: Reasons to invest
1. 9.4% yield is compelling 2. Strong track record of EPS and DPS growth 3. Fundamentally sound business model: — Property investments provides recurring income to underpin Aspen’s distribution - High growth funds management business drives high ROE, while providing additional recurring funds manage
Slide 13: Lease Expiry Profile
Lease he of Expiry Income ACME Fine Furniture 2012 2008 2014 2012 2019 22% 13% 11% 6% 2% 54% Lease Expiry Profile by Income RR 5 ue OY WO DID Bi ii “w+ Exders, Spoarwvod 25