Universal Partners Ltd. · JSE:UPL
Universal Partners — IPO Roadshow (August 2016)
21 slides from Universal Partners's IPO roadshow presentation, August 2016
Slide 1: Investor Roadshow Presentation
Strictly Private & Confidential Investor Roadshow Presentation July / August 2016
Slide 2: Introduction
INTRODUCTION ► Access to private equity investment opportunities in high quality, cash generative businesses across Europe, with a particular focus on the United Kingdom, the largest private equity market in Europe ► Offers a listed liquid investment in a traditionally illiquid asset class with long
Slide 3: Offer Summary
OFFER SUMMARY Combined capital commitment of GBP 60 million from the following: Pre-committed ►Global Capital consortium capital ►Investec Bank ►Richmark Consortium ►Credo Wealth Issue price Rand equivalent of GBP1.00 per share Purpose of To fund investments in line with the company’s investment pol
Slide 4: Offer Summary - continued
OFFER SUMMARY - c o n t i n u e d Offer type Private placement at the time of the inward secondary listing on the AltX Minimum R1 million on the South African register application Targeted Between ± GBP 65 million and GBP 80 million at an issue price of GBP 1.00 capital raise Primary listing on the
Slide 5: Why Universal Partners?
WHY UNIVERSAL PARTNERS? ► Access to Private Equity • Difficult for retail investors to gain private equity exposure conveniently • Transforms a traditionally long term, illiquid investment into a listed, tradeable investment • Lower entry value providing greater choice to an investor ► Hard currency
Slide 6: Executive Team
EXECUTIVE TEAM Pierre Joubert ► Member for the last 13 years of the RMB Investment Committee which approves (CEO)* and monitors all private equity acquisitions and disposals conducted in RMB Ventures, RMB Corvest and RMB Investment Banking. ► Member of Ashburton Private Equity Fund 1 Investment Comm
Slide 7: Executive Team - continued
EXECUTIVE TEAM - c o n t i n u e d Andrew Birrell ► Over 26 years’ experience in various executive and non-executive roles, across (Executive Director)* the life insurance, general insurance, health insurance, stock broking, asset management, and retail online banking industries, in South Africa, th
Slide 8: Board & Investment Committee
BOARD & INVESTMENT COMMITTEE Director Role Experience ► Co-founder and former Executive Director of Investec Bank Ltd. Larry Nestadt* Non-Executive ► Current Executive Chairman of Global Capital (Pty) Ltd and Chairman of the Chairman Morecorp Group and Blue Label Telecoms Ltd. ► Over 40 years busine
Slide 9: Network
NETWORK Universal Partners has a strong network of partners and potential co-investors: ► UP has concluded a co-operation agreement with Credo Wealth, an independent wealth management business with offices in the UK, South Africa and Switzerland. Credo has assets under administration in excess of GB
Slide 10: Strategy
STRATEGY Investment Policy ► In addition to conventional private equity investments, investments may include appropriate Investments to opportunities in listed equity securities, unlisted or over-the-counter equity securities, derivatives comprise of such securities and direct investments in listed
Slide 11: Strategy - continued
STRATEGY - c o n t i n u e d Investment Policy The core investment strategy is to identify businesses that demonstrate the following Core strategy important attributes: ► Robust easily understood business model; ► Clear competitive advantages; ► Strong and sustainable profitability; ► High cash conv
Slide 12: Strategy - continued
STRATEGY - c o n t i n u e d Benefits of the Investment Policy ► In the case of individual South African shareholders, an investment in Universal Partners provides a degree of currency diversification and access to an investment jurisdiction that is not readily available (other than by using their f
Slide 13: Strategy - continued
STRATEGY - c o n t i n u e d Why the United Kingdom and European Union? ► The Global Entrepreneurship Index (GEDI) 2015 ranks the UK as the most entrepreneurial market in Europe and the fourth globally. From a business sector perspective, the UK occupies a leading position in financial services, bus
Slide 14: Brexit
BREXIT Impact on strategy? ► Universal Partners has a medium- to long-term investment horizon and we are of the opinion that the current volatility in the macro-economic environment for the EU and UK will return to stability over the medium- to long-term ► Current volatility and negative market sent
Slide 15: Investment Process
INVESTMENT PROCESS Board Investment Manager’s recommendations are presented to the Investment Committee that has final authority The Board delegates authority to over investment and make investment decisions to disinvestment decisions the Investment Committee Investment Manager operates Investment D
Slide 16: Fee Structure
FEE STRUCTURE The Investment Manager is entitled to: Annual investment management fee, payable quarterly in advance, equal to: ► 0.90% of the amount of short-term liquid investments and/or cash ► 2.00% of the amount of long term investments On realisation of each investment by the Company: ► Perform
Slide 17: Estimated Annual Expenses
ESTIMATED ANNUAL EXPENSES GBP (‘000) Investment management fee* 943 Payroll expenses (incl. directors fees) 255 Travel expenses 127 Consulting and legal fees 91 JSE & SEM related fees 36 Audit fees 20 Operational expenses 33 Advertising and marketing expenses 16 Total 1 521 As a % of Investment Valu
Slide 18: Conclusion
CONCLUSION Universal Partners offers its shareholders the opportunity to: ► Invest in an asset class that is not readily ► Enjoy the benefits of a permanent accessible for many investors capital vehicle that offers transparency and liquidity ► Diversify their currency risk by gaining ► Invest alongs
Slide 19: Indicative Timetable
INDICATIVE TIMETABLE Indicative timetable ► Offer opens 09h00 Thursday 4 August 2016 ► Offer closes 12h00 Friday 5 August 2016 ► Listing on the AltX Thursday 11 August 2016 Bookrunner – Java Capital Carl Esterhuysen +27 (0) 11 722 3054 universal@javacapital.co.za Travis Green +27 (0) 11 722 3055 uni
Slide 20: Disclaimer
DISCLAIMER This document has been prepared and issued by and is the sole responsibility of the management of Universal Partners Limited (the “company”). No information made available in connection with this presentation may be passed on, copied, reproduced, in whole or in part, or otherwise dissemin
Slide 21: Universal Partners
UNIVERSAL PARTNERS