Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Investor Presentation (February 2015)
27 slides from Tabcorp's investor presentation, Feb 5, 2015
Slide 1: Special dividend and equity raising
For personal use only Tabcorp Holdings Limited ABN 66 063 780 709 Special dividend and equity raising 5 February 2015 NOT NOT FOR FOR RELEASE RELEASE OR DISTRIBUTION OR DISTRIBUTION IN UNITED IN THE THE UNITED STATES STATES 1
Slide 2: Disclaimer
Disclaimer For personal use only This Presentation has been prepared by Tabcorp Holdings Limited (ABN 66 063 780 709) (Tabcorp). Summary information This Presentation contains summary information about the current activities of Tabcorp and its subsidiaries (Tabcorp Group). The information in this Pr
Slide 3: Disclaimer
Disclaimer Financial data All dollar values are in Australian dollars (A$) and financial data is presented with a financial year end of 30 June unless otherwise stated. The pro forma historical financial information included in this Presentation does not purport to be in compliance with Article 11 o
Slide 4: Agenda
Agenda For personal use only 1. Capital management initiatives 2. Special dividend 3. Equity raising 4. Pro-forma group balance sheet 5. Indicative timetable Appendix A – Key risks Appendix B – International selling restrictions Appendix C – Restrictions on eligibility to exercise or trade entitleme
Slide 5: Capital management initiatives
Capital management initiatives In conjunction with the release of its 1H15 results, Tabcorp has declared an interim For personal use only dividend of 10.0 cents per share, fully franked ("Interim Dividend") FY15 target ordinary dividend payout ratio of 90% of NPAT before significant items Tabc
Slide 6: Special Dividend
Special Dividend For personal use only Special Special Dividend of 30.0 cents per share, fully franked Dividend Payable in addition to the Interim Dividend of 10.0 cents per share, fully franked Key dividend Key dates for the Special Dividend are the same as for the Interim Dividend: dates E
Slide 7: Equity raising
Equity raising For personal use only Offer size and Fully underwritten pro-rata accelerated renounceable entitlement offer pricing (with retail entitlements trading) to raise approximately $236 million Entitlements offered on a 1 for 12 basis at $3.70 per share to eligible shareholders Implies
Slide 8: Equity raising
Equity raising For personal use only Institutional Institutional offer open to eligible institutional shareholders from 5 to 6 February 2015 1 offer Institutional entitlements not taken up and entitlements of ineligible institutional shareholders will be placed into the institutional shortfall b
Slide 9: Pro-forma group balance sheet
Pro-forma group balance sheet Pro-forma Tabcorp group balance sheet following the equity raising and Special For personal use only Dividend Pro-forma A$m 31 December 2014 Adjustments1 31 December 2014 Cash and cash equivalents 117.1 - 117.1 Property, plant and equipment 315.5 - 315.5 Other assets 2,
Slide 10: Indicative timetable
Indicative timetable For personal use only Event Date – 2015 1 Announcement of the Offer, institutional offer opens Thursday, 5 February Institutional offer closes Friday, 6 February Institutional shortfall bookbuild Monday, 9 February Shares re-commence trading on ASX Tuesday, 10 February Record da
Slide 11: Agenda
Agenda For personal use only 1. Capital management initiatives 2. Special dividend 3. Equity raising 4. Pro-forma group balance sheet 5. Indicative timetable Appendix A – Key risks Appendix B – International selling restrictions Appendix C – Restrictions on eligibility to exercise or trade entitleme
Slide 12: A - Key risks
Appendix A - Key risks This section discusses some of the key risks attaching to an investment in Tabcorp. Before investing in Tabcorp, you should consider whether this investment is suitable for you. Potential investors should consider publicly available information on Tabcorp (such as that availab
Slide 13: A - Key risks
Appendix A - Key risks Disciplinary action and cancellation of licences In certain situations (including, potentially, if the Tabcorp Group fails to meet the terms and conditions of its licences or other compliance requirements), the licences and For personal use only authorisations that have been g
Slide 14: A - Key risks
Appendix A - Key risks Future dividends and franking capacity No assurances can be given in relation to the payment of future dividends. Future determinations as to the payment of dividends by Tabcorp will be at the discretion of the directors at the time and will depend upon the availability of pro
Slide 15: A - Key risks
Appendix A - Key risks Racing products The Tabcorp Group’s wagering business is reliant on the Victorian, New South Wales and other interstate racing industries providing a program of events for the purposes of For personal use only wagering. A significant decline in the quality or number of horses
Slide 16: A - Key risks
Appendix A - Key risks Availability and servicing of debt finance From time to time, the Tabcorp Group will be required to refinance its debt facilities. There is no certainty as to the availability of debt facilities or the terms on which such For personal use only facilities may be provided to the
Slide 17: A - Key risks
Appendix A - Key risks Underwriting risk The underwriting agreement relating to the Offer the subject of this Presentation sets out various events, the occurrence of which will entitle the underwriter to terminate the For personal use only underwriting agreement. Accordingly, there is a risk that th
Slide 18: A - Key risks
Appendix A - Key risks Renouncement risk If a Tabcorp shareholder does not take up their entitlement under the Offer, there is no guarantee that any value will be received for their renounced entitlement through the For personal use only relevant bookbuild processes under the Offer or (in the case o
Slide 19: Agenda
Agenda For personal use only 1. Capital management initiatives 2. Special dividend 3. Equity raising 4. Pro-forma group balance sheet 5. Indicative timetable Appendix A – Key risks Appendix B – International selling restrictions Appendix C – Restrictions on eligibility to exercise or trade entitleme
Slide 20: B - International selling restrictions
Appendix B - International selling restrictions This Presentation does not constitute an offer of entitlements ("Entitlements"), or of new ordinary shares ("New Shares") of Tabcorp Holdings Limited ("Tabcorp"), in each case that are the subject of the Offer referred to in this Presentation in any ju
Slide 21: B - International selling restrictions
Appendix B - International selling restrictions China The information in this Presentation does not constitute a public offer of the Entitlements or the New Shares, whether by way of sale or subscription, in the People's Republic of For personal use only China (excluding, for purposes of this paragr
Slide 22: B - International selling restrictions
Appendix B - International selling restrictions Ireland The information in this Presentation does not constitute a prospectus under any Irish laws or regulations and this Presentation has not been filed with or approved by any Irish For personal use only regulatory authority as the information has n
Slide 23: B - International selling restrictions
Appendix B - International selling restrictions Norway This Presentation has not been approved by, or registered with, any Norwegian securities regulator under the Norwegian Securities Trading Act of 29 June 2007. Accordingly, For personal use only this Presentation shall not be deemed to constitute
Slide 24: B - International selling restrictions
Appendix B - International selling restrictions United Kingdom Neither the information in this Presentation nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United For personal use only Kingdom and no prospectus (within the meanin
Slide 25: Agenda
Agenda For personal use only 1. Capital management initiatives 2. Special dividend 3. Equity raising 4. Pro-forma group balance sheet 5. Indicative timetable Appendix A – Key risks Appendix B – International selling restrictions Appendix C – Restrictions on eligibility to exercise or trade entitleme
Slide 26: C - Restrictions on eligibility to exercise or trade entitlements
Appendix C - Restrictions on eligibility to exercise or trade entitlements For personal use only No person who is in the United States or who is acting for the account or benefit of a person in the United States may acquire entitlements on the ASX or exercise such entitlements to acquire new Tabcorp
Slide 27: For personal use only
For personal use only NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES 27
Tabcorp Holdings — Investor Presentation (February 2015) on 6ix