Plato Income Maximiser Ltd. · ASX:PL8
Plato Income Maximiser — Shareholder Meeting (November 2021)
32 slides from Plato Income Maximiser's shareholder meeting presentation, Nov 22, 2021
Slide 1: 2021 Annual General Meeting
2021 ANNUAL GENERAL MEETING PLATO INCOME MAXIMISER LIMITED ASX: PL8 For personal use only 22 November 2021 1
Slide 2: Agenda
Agenda For personal use only 01 02 Chairman’s Address Formal Business 03 04 Investment Manager Update Questions 2
Slide 3: Chairman's Address
For personal use only Chairman’s Address Mr. Jonathan Trollip 3
Slide 4: PL8 Overview
PL8 Overview PLATO INCOME MAXIMISER LIMITED For personal use only First and only Based on the Designed specifically Australian Listed investment strategy of with retiree investors Investment Company the Plato Australian in mind (pension phase (LIC) paying monthly Shares Income Fund superannuation or
Slide 5: Company Performance
Company Performance Portfolio Performance1 For personal use only • 10.0% annualised from inception date3 to 31 October 2021 Income1 • 7.4% annualised from inception date3 to 31 October 2021 TSR Performance2 • 9.2% annualised from inception date3 to 31 October 2021 1 Past performance is not a reliabl
Slide 6: Dividend Update
Dividend Update INCREASED MONTHLY DIVIDENDS TO $0.005 PER SHARE For personal use only MONTHLY DIVIDENDS 0.6 0.5 0.4 Cents per share 0.3 0.2 0.1 0 Monthly Dividends back to pre-COVID levels Source: Plato. The declaration of dividends by the company is at the full discretion of the board (unlike trust
Slide 7: Price has closely tracked NTA
Price has closely tracked NTA PL8 PRICE VERSUS PRE-TAX NTA SINCE LISTING For personal use only $1.40 $1.30 $1.20 $1.10 $1.00 $0.90 $0.80 $0.70 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Mar-18 Mar-19 Mar-20 Mar-21 May-17 Jul-17 May-18 May-19 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 May-20 Jul-20 Jan-21 May-21 Jul
Slide 8: PL8 Share Purchase Plan
PL8 Share Purchase Plan Share Purchase Plan (SPP) For personal use only • Follows the successful completion of a Wholesale Placement (Placement) on 3 November 2021, raising $71.3 million • The SPP is an opportunity for Eligible Shareholders (PL8 shareholders on the record date of 2 November 2021) to
Slide 9: PL8 Share Purchase Plan: How to apply
PL8 Share Purchase Plan How to apply For personal use only • If you wish to participate in the SPP, please read the Share Purchase Plan Booklet (Booklet) and follow the instructions contained within your personalised Application Form. • The Booklet and your personalised Application Form was sent to
Slide 10: Formal Business
For personal use only Formal Business Mr. Jonathan Trollip 10
Slide 11: Financial statements and reports
Formal Business Financial statements and reports For personal use only Consideration of financial statements and reports 11
Slide 12: Resolution: Adoption of the Remuneration Report
Formal Business Resolution 1 For personal use only Adoption of the Remuneration Report To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That the Remuneration Report of the Company for the financial year ended 30 June 2021 be adopted” 12
Slide 13: Resolution - proxies
Formal Business Resolution 1 - proxies For personal use only Shares Voted For 82.43% 12,206,019 Open 7.29% 1,079,768 Against 10.28% 1,521,779 Abstain 103,428 13
Slide 14: Resolution: Re-election of Lorraine Berends
Formal Business Resolution 2 For personal use only Re-election of Lorraine Berends as a director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That Ms Lorraine Berends, who retires by rotation in accordance with rule 6.7 of the Company’s Constitution a
Slide 15: Resolution - proxies
Formal Business Resolution 2 - proxies For personal use only Shares Voted For 88.71% 14,491,993 Open 6.38% 1.042,703 Against 4.91% 801,298 Abstain 101,250 15
Slide 16: Resolution: Re-election of Alex Ihlenfeldt
Formal Business Resolution 3 For personal use only Re-election of Alex Ihlenfeldt as a director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That Mr Alex Ihlenfeldt, who retires by rotation in accordance with rule 6.7 of the Company’s Constitution and
Slide 17: Resolution - proxies
Formal Business Resolution 3 - proxies For personal use only Shares Voted For 88.68% 14,558,900 Open 6.44% 1,057,046 Against 4.88% 801,298 Abstain 20,000 17
Slide 18: Investment Manager Update
For personal use only Investment Manager Update Dr. Don Hamson 18
Slide 19: PL8 delivering high income month realised yield
PL8 delivering high income 12 month realised yield* For personal use only 7.0% 6.0% 6.0% 5.0% 4.7% 4.0% 3.0% 2.0% 1.0% 0.1% 0.0% RBA Cash Rate S&P/ASX 200 PL8 CASH 0.1% 3.5% 4.2% FRANKING 0.0% 1.2% 1.8% *to 30 September 2021, Plato, Bloomberg 19
Slide 20: Chart of Plato Income Performance
Chart of Plato Income Performance Plato Aust. Shares Income Fund v S&P/ ASX200 Accumulation Series (incl. For personal use only Franking Credits) Indexed to 1 since inception 3.80 3.30 2.80 2.30 1.80 1.30 0.80 Sep-2011 Sep-2012 Sep-2013 Sep-2014 Sep-2015 Sep-2016 Sep-2017 Sep-2018 Sep-2019 Sep-2020
Slide 21: RBA forecasts three years of record low 0.1% cash rate
RBA forecasts three years of record low 0.1% cash rate OFFICIAL RBA CASH RATE EXPECTATIONS – EVEN LOWER FOR LONGER For personal use only RBA cash rate 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Jan-2005 May-2008 Nov-2005 Jan-2015 Jan-2010 Sep-2011 May-2013 Sep-2016 May-2018 Jul-2022 Jul-2007 Nov-2
Slide 22: Yields on all asset classes have fallen
Yields on all asset classes have fallen BUT NOTE THE RECENT INCREASE For personal use only Plato Aussie Income Fund (gross normalised) S&P200 Gross CashRate 12 Mth Term Deposit 3yr BBB Credit 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Sep-2012 May-2013 Sep-2013 May-2014 Sep-2014 Jan-2013 May-2015 J
Slide 23: Tax effective buy-backs can be very advantageous
Tax effective buy-backs can be very advantageous CBA BUYBACK – WORTH 14% AFTER TAX FOR ZERO TAX INVESTORS For personal use only • A$6bn off market buyback - >3.5% of shares on issue • Worth 14% for zero tax-paying investors (e.g. many pensioners) for every share successfully tendered • 79.4% scale-b
Slide 24: Big Aussie income stocks doing it tough!
Big Aussie income stocks doing it tough! 6 STOCKS ACCOUNT FOR NEARLY HALF OF ALL DIVIDENDS For personal use only Price Performance - Rebased % of Gross Dividend Income - FY21 1.30 1.20 1.10 BHP Group 1.00 Commonwealth Bank Fortescue Metals 0.90 ANZ 0.80 National Australia Bank Rio Tinto 0.70 Other 0
Slide 25: Winning by not losing - avoiding dividend traps
Winning by not losing - avoiding dividend traps AGL ENERGY UP TO 14% GROSS DIVIDEND YIELD For personal use only Source: Plato, Bloomberg 25
Slide 26: Results season August 2021 - Dividends
Results season August 2021 - Dividends EARNINGS UP AND DIVIDENDS EVEN MORE For personal use only • Over $38bn in dividends have been declared, $17bn more than 20 20 A ND 20 2 1 C H A NG E I N D I VI D E NDS ( VS P R I O R last year and $10bn more than in 2019. C O M PA R A B L E P E R I O D ) • Stro
Slide 27: Dividend Outlook has improved significantly over past year
Dividend Outlook has improved significantly over past year LARGE DIVIDEND AVERAGE % CHANCE OF DIVIDEND CUTS FOR AUSTRALIAN MARKET For personal use only Source: Plato, based on MSCI World IMI (Australian portion) 27
Slide 28: Asset Class Outlook for Income
Asset Class Outlook for Income FORECAST 12 MONTH INCOME AS AT 01/09/2021 For personal use only 31/12/2020 2/03/2021 1/09/2021 6% 5% 4% 3% 2% 1% 0% Official 10yr Aust Bonds Term Deposits* Company BB MSCI World ex REITs Aust Equities Overnight Cash Credit* Aust (Gross) Source: Plato, Bloomberg, *RBA.
Slide 29: Conclusion
Conclusion For personal use only Bad news: Interest rates to remain at historic lows – 2-3 years of bad news for retirees in term deposits Good news: Dividends are rebounding strongly – Plato dividend cut model returns to normal – Strong dividends from iron ore miners and banks – Take advantage of t
Slide 30: Questions
For personal use only Questions Mr. Jonathan Trollip Dr. Don Hamson 30
Slide 31: Thank you for joining us for our AGM
For personal use only Thank you for joining us for our AGM PL8 shareholder enquiries For general information about your shareholding please contact the Share Registry Automic: T: 1300 288 664 E: hello@automicgroup.com.au For investment enquiries please contact Pinnacle T: 1300 010 311 E: invest@plat
Slide 32: Disclaimer
Disclaimer Note: Past performance is not a reliable indicator of future performance. About this presentation For personal use only This communication has been prepared by Plato Income Maximiser Limited ABN 63 616 746 215 (PL8) and Plato Investment Management Limited AFSL 504616 ABN 77 120 730 136 (‘
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