Praemium Ltd · ASX:PPS
Praemium — Investor Presentation (July 2020)
14 slides from Praemium's investor presentation, Jul 9, 2020
Slide 1: Acquisition of Powerwrap Limited
Acquisition of PRESENTED BY Praemium Limited Powerwrap Limited ACN 098 405 826 Investor Presentation 9 July 2020
Slide 2: Disclaimer
Disclaimer This presentation has been issued by Praemium Limited ACN 098 405 826 (PPS) in relation to its proposed off-market takeover offer (Offer) to acquire all of the ordinary shares in Powerwrap Limited ACN 129 756 850 (PWL) not already owned by PPS (PWL Shares) in accordance with Chapter 6 of
Slide 3: The offer
The offer Praemium is offering to acquire the 85% of the shares it does not already own in Powerwrap for 7.5¢ cash per share and one Praemium share for every two Powerwrap shares owned. Offer Structure Consideration Transaction Funding The offer consideration is 7.5¢ cash The offer is not subject to
Slide 4: An attractive premium
An attractive premium The implied offer price represents an attractive premium to Powerwrap’s closing share price and the 1 month, 3 month and 6 month VWAPs.(1) $0.300 $0.250 138.4% premium 82.3% premium 64.6% premium 51.1% premium $0.200 $0.150 $0.264 $0.100 $0.175 $0.161 $0.145 $0.111 $0.050 - 6 m
Slide 5: About Powerwrap
About Powerwrap The HNW investor segment is a key target market for Powerwrap. It comprises over $2 trillion in assets across some 460,000 HNW investors*. The platform has the largest investment product menu with FUA of $7.9bn. The platform specialises in sophisticated investment solutions. Includes
Slide 6: Provides scale
Provides scale The Merged Group will have greater financial and operational scale and is expected to be better positioned to pursue growth opportunities. The combined business to leverage the scale of our investment platform technology to realise the full potential of the current market opportunit
Slide 7: Highly synergistic
Highly synergistic Cost synergies Full year EBITDA operating cost synergies are expected (on a preliminary basis) to total $6.0 million by FY2022. Further, rationalisation of Powerwrap’s platform development activities may avoid ~$2.5m p.a. of capitalised software development expenditure. The post-t
Slide 8: A business with greater scale and a stronger market position
A business with greater scale and a stronger market position Combining the resources and capabilities of both Praemium and Powerwrap will create a business with greater scale, international reach, improved inflows, a more diversified customer base, improved liquidity and a larger and more flexible b
Slide 9: Praemium is emerging as a global leader
Praemium is emerging as a global leader The proposed transaction is likely to further accelerate its challenge of the sector’s incumbents. UK: Praemium debuted 2nd in Australia: Praemium debuted 4th in Investment Trends platform survey. prestigious platform ratings. Total overall score 90.0% Parmeni
Slide 10: Powerwrap and Praemium – stronger together
Powerwrap and Praemium – stronger together Praemium’s reporting and administration strength combined with Powerwrap’s execution capabilities and broad range of alternative investment options will create a highly attractive proposition as a specialist platform solution. Merged Group differentiators •
Slide 11: Powerwrap will leverage Praemium's upgraded tech
Powerwrap will leverage Praemium’s upgraded tech In early 2019, Praemium launched a major platform upgrade to create a fully integrated managed accounts platform. The upgrade will be provided to Powerwrap clients and includes: • An intuitive digital Adviser Portal • An enhanced digital Investor Port
Slide 12: Offer period timetable (unless extended)
Offer period timetable (unless extended) Step Event Date Praemium lodges Bidder’s Statement with the Australian Information Securities Commission 1. 16 July 2020 (ASIC) and serves it on Powerwrap and the Australia Securities Exchange (ASX). 2. Dispatch of Bidder’s Statement to Powerwrap shareholders
Slide 13: Subject to a number of conditions
Subject to a number of conditions Condition Description(1) Minimum acceptance At the end of the Offer period, Praemium has a relevant interest in at least 90% of the Powerwrap shares threshold (on a fully diluted basis). No regulatory action is taken in consequence or in connection with the Offer (o
Slide 14: Praemium contact details
Level 19, 367 Collins Street, Melbourne, VIC 3000 Ph: 1800 571 881 E: support@praemium.com.au