Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — IMF Bentham — Investor Presentation (February 2015)
14 slides from Omni Bridgeway's investor presentation, February 2015
Slide 1: Investor Presentation February 2015
For personal use only INVESTOR PRESENTATION February 2015
Slide 2: Contents
CONTENTS For personal use only HY2015 Highlights HY2015 Income Balance Sheet Strength Investment I t t Portfolio P tf li Possible Completions in 2H2015 Track Record US Business Selected Case Updates Future Outlook Key Risks 2
Slide 3: HY2015 Highlights
HY2015 HIGHLIGHTS For personal use only HY2014 FY2014 HY2015 HY2015 v HY2014 Gross Income (from cases) $33.6M $75.9M $77.6M 131% Net Income (from cases) $17.0M $26M $35.2M 107% NPBT $13.6M $15.6M $32.5M 139% NPAT $9.1M $9.9M $23M 152% Dividends (cents per share) 5 cents 10 cents 5 cents ‐ EP
Slide 4: HY2015 Income
HY2015 INCOME For personal use only MATTER GROSS INCOME NET INCOME US Case $17.3M $11.3M Premium Income Fund $18 3M $18.3M $7 7M $7.7M US Case $16.0M $7.6M ABC Learning Centres $16.7M $5.1M Confidential Australian matter $2.4M $1.7M Desalination Technology* $2.4M $1.6M Peninsula Colour Graphics $1.2
Slide 5: Balance Sheet Strength
BALANCE SHEET STRENGTH For personal use only Cash Investments1 Net Assets $M $M $M $134.40 $98.50 $98.60 $208.60 $196.90 $191.10 $86.00 $105.60 $79.10 $74.20 $85.80 $125.50 $117.30 $70.90 $68.00 HY13 FY13 HY14 FY14 HY15 HY13 FY13 HY14 FY14 HY15 HY13 FY13 HY14 FY14 HY15 1 Investments include capitali
Slide 6: Investment Portfolio
INVESTMENT PORTFOLIO For personal use only No % of Possible Possible Possible Claim Value Est. Claim of Total Completion Completion Completion Range Value1 Cases Value FY20152 FY20162 FY20172 <$10M $27M 6 2% $15M $12M – $10M ‐ $50M $461M 15 25% $60M $121M $280M $50M >$50M $1,330M 9 73% $50M $740M $5
Slide 7: Possible Completions in 2H2015
POSSIBLE COMPLETIONS IN 2H2015 For personal use only Below is a list of matters that may possibly complete in 2H2015. Other matters may also complete in that period. Matter Description Retail Adventures IMF successfully funded a number of unsecured creditors to set aside the Deed of Company Arrangem
Slide 8: Possible Completions in 2H2015
POSSIBLE COMPLETIONS IN 2H2015 For personal use only Matter Description Bank Fees On 4 February 2014 Justice Gordon delivered judgment in the Bank Fees matter. The findings in favour of IMF's clients were that late payment fees were penalties at law and that certain inter account exception fees
Slide 9: Track Record
TRACK RECORD For personal use only IMF’s track record to 31 December 2014 S ttl Settlements t Summary 169 cases commenced and completed since Won listing. Average A investment i t t period i d off 2 2.4 4 years. Generated revenue of $1.63B: 15 $1035M to Clients (63%); 113 169 Cases $592M t
Slide 10: US Business
US BUSINESS For personal use only IMF established a US subsidiary in August 2011 and opened its first office in New York. Following growth, our Los Angeles office was opened in September 2013. US business now has 8 staff including 4 investment managers and 2 legal counsel counsel. Investment man
Slide 11: Selected Case Updates
SELECTED CASE UPDATES For personal use only Matter Description Westgem Proceedings for damages against Bankwest were filed in the Westgem matter. The Bank lost its applications to strike out the statement of claim, for an injunction to prevent the Claimant’s solicitors from continuing to act and to
Slide 12: Selected Case Updates
SELECTED CASE UPDATES For personal use only Matter Description Wivenhoe Dam The claim in the Wivenhoe Dam case by persons who suffered loss due to the Brisbane floods in 2011 caused by the alleged negligence of the Dam operators, was filed in the NSW Supreme Court on 8 July 2014. IMF has entered int
Slide 13: Future Outlook
FUTURE OUTLOOK For personal use only Further development of international funding platform: Expansion in the US (new staff staff, more cases) cases). Expansion in the UK and Europe (joint venture). Funding in Hong Kong (focus on insolvency cases). Building the investment portfolio above $2
Slide 14: Key Risks
KEY RISKS For personal use only Item Description Choosing, and remaining in, a If a funded case is lost, IMF will lose not only its investment but may also have to pay the defendant’s funded case that is ultimately costs. lost Reliance on key management IMF depends substantially on its executive