Cadence Capital Limited · ASX:CDM
Cadence Capital — Merger or Acquisition (August 2013)
8 slides from Cadence Capital's merger presentation, Aug 20, 2013
Slide 1: CDM/Pepper Scheme to acquire 100% of RHG Ltd
Cadence Capital Limited For personal use only CDM/ Pepper Scheme to acquire 100% of RHG Ltd Presentation Page 1
Slide 2: Proposed Scheme – value of 50.55 cents per RHG share
Proposed Scheme – value of 50.55 cents per RHG share* For personal use only CDM / Pepper scheme proposal to acquire 100% of RHG paying cash and CDM scrip Pepper will ultimately own 100% of RHG Value of total consideration is estimated at 50.55 cents per RHG share including franking* Pepper t
Slide 3: Proposed Scheme (Continued)
Proposed Scheme (Continued) For personal use only The scheme requires that RHG pay an additional 2.0 cent (Cadence estimate) fully franked dividend in October 2013 In addition, New CDM shareholders will receive an additional 5.0 cent fully franked dividend on their New CDM Shares The estimated
Slide 4: Consideration Table based on CDM share price
Consideration Table based on CDM share price For personal use only CDM Share Ratio Pepper Cash Estimated Franking on Total Price 1:10 RHG Dividend RHG Dividend Consideration $1.25 12.5c 33.0c 2.0c 0.9c 48.4c $1.30 13.0c 33.0c 2.0c 0.9c 48.9c $1.35 13.5c 33.0c 2.0c 0.9c 49.4c $1.40 14.0c 33.0c 2.0c 0
Slide 5: Benefits to CDM Shareholders
Benefits to CDM Shareholders For personal use only Maximising CDM shareholder wealth by realising a higher price for RHG stock and increasing retained profits Improving liquidity of CDM stock through increased market capitalisation Increasing the number of shareholders for the CDM vehicle furt
Slide 6: Benefits for RHG Shareholders
Benefits for RHG Shareholders For personal use only This transaction offers a higher value per RHG share for all RHG shareholders CDM endorsement of the Proposed Scheme creates greater certainty for the success of the Proposed Scheme The Proposed Scheme clearly indicates that CDM (as the large
Slide 7: Benefits for RHG Shareholders (Continued)
Benefits for RHG Shareholders (Continued) For personal use only RHG shareholders will receive CDM shares - one of the top performing Listed Investment Companies The new CDM shareholders will receive a 5.0 cent fully franked dividend on their new CDM Shares Cadence Asset Management and Wilson A
Slide 8: Summary
Summary For personal use only CDM / Pepper Proposed Scheme values RHG at 50.55* cents per share including franking The Proposed Scheme contemplates additional dividends and franking As a consequence of this superior proposal, CDM does not support the current proposal by the AMAC / Resimac synd
Cadence Capital — Merger or Acquisition (August 2013) on 6ix