Thorney Technologies Limited · ASX:TEK
Thorney Technologies — Investor Presentation (July 2021)
19 slides from Thorney Technologies's investor presentation, Jul 5, 2021
Slide 1: Thorney Technologies Ltd Capital Raise Presentation July 2021
For personal use only THORNEY TECHNOLOGIES LTD (ASX : TEK) Capital Raise Presentation July 2021 Not for release to US wire services or distribution in the United States or to US Persons
Slide 2: Important Notice and Disclaimer
IMP ORTANT NOTICE AND DISCLAIMER This presentation has been prepared by Thorney Technologies Ltd (TEK) in connection with TEK’s proposed placement of new fully paid ordinary shares in TEK (New Shares) to sophisticated and professional investors. Offers of the New Shares under the placement will be m
Slide 3: TEK Investment Overview
TEK I NVESTMENT OVER VI EW For personal use only Thorney Technologies Ltd (TEK) has outperformed ASX Small Ordinaries Index with a 144.2% return (NTA) and a 63.8% return (share price) since inception¹ TEK NTA and share price annual return for FY21 YTD¹ is 50.3% and 54.6%, respectively TEK’s unlisted
Slide 4: Executive Summary
EX ECUTIVE SUMMARY COMP ANY OVERVIEW • Launched in 2017, TEK is a well established listed investment company (LIC) focused on investing in technology-related companies across the investment life- For personal use only cycle, with a focus on pre-IPO opportunities, in Australia and overseas. INVESTMEN
Slide 5: Investment Focus
INVESTMENT FOCUS TEK seeks to identify early stage companies with new and disruptive technology and business models, and invests in a broad range of areas of technology, such as fin-tech, e-commerce, education, agriculture, medical, telecommunication, robotics and AI. For personal use only Tech n ol
Slide 6: TEK Performance
TEK P ERFORMANCE TEK has generated strong returns for shareholders since inception For personal use only TEK NTA (af ter f ees an d cos ts ) vs TEK Sh are P rice vs ASX TEK NTA (af ter f ees an d cos ts ) vs TEK Sh are P rice vs ASX Small Ords Accumulation In dex Small Ords Accumulation In dex Sin c
Slide 7: Portfolio
P ORTFOLIO TEK aims to create significant shareholder value by providing a unique access to unlisted and pre-IPO company investment opportunities both in Australia and overseas For personal use only In ves tmen t portf olio (ex cl. cas h ) allocation as at 31 May 2021 Unlisted (Domestic) 12% Listed
Slide 8: TEK Unlisted Investment Portfolio
TEK UNLISTED INVESTMENT P ORTFOLIO Unlisted investments with an identified indicative pathway to IPO or an up-funding-round 1 For personal use only AP Ven tures : Updater: AP Ventures is an investment vehicle in which Afterpay Limited is Updater, Inc. is the leading technology platform that powers t
Slide 9: TEK Unlisted Investment Portfolio
TEK UNLISTED INVESTMENT P ORTFOLIO Unlisted investments where TEK has identified an indicative pathway to IPO or an up-funding-round 1 For personal use only En litic: GLX Holdin gs : Enlitic develops clinical and non-clinical AI-powered workflow GLX is a provider of full lifecycle deal capture and t
Slide 10: Capital Raise
CAP ITAL RAISE Summary of the capital raise For personal use only OFFER STRUCTURE TEK has undertaken an equity raising to raise up to approximately $25.3m (“the Offer”) via the issuance of new fully paid ordinary shares in the TEK (“New Shares”) at $0.40 per New Share, comprising of: • A Two Tranche
Slide 11: Offer Statistics and Use of Funds
OFFER STATISTICS AND USE OF FUNDS Of f er s tatis tics ¹ TEK P remium (Dis coun t) to NTA as at 31 May 2021 For personal use only Shares on issue prior to the Offer 361,793,104 $0.60 80% Total number of Shares available under the Offer 63,248,000 $0.50 60% $0.40 40% Total Proceeds from the Offer $25
Slide 12: Timetable
TIMETABLE Item Date For personal use only Trading Halt Thursday, 1 July, 2021 Trading Halt lifted and announcement to ASX of the Offer Monday, 5 July, 2021 Settlement of New Shares under Tranche 1 Placement Monday, 12 July, 2021 Allotment and commencement of trading of New Shares under Tranche 1 Pla
Slide 13: Key Risks
AP P ENDIX 1 – KEY RISKS TEK's operations are subject to a number of risks which may impact on its future performance and forecasts. Before subscribing for New Shares, investors should carefully consider and evaluate TEK For personal use only and its business and whether the New Shares are suitable
Slide 14: Key Risks
AP P ENDIX 1 – KEY RISKS Investment returns For personal use only The investments pursued and managed by TMS pursuant to the Investment Management Agreement may not result in an absolute return to TEK and its shareholders and may result in a reduction in the net asset value of TEK and potentially
Slide 15: Key Risks
AP P ENDIX 1 – KEY RISKS Borrowings For personal use only TMS may, under the Investment Management Agreement, expose TEK’s investment portfolio to an investment by way of borrowings or an investment in financial products such as derivatives which give the effect of using borrowings. Currently, T
Slide 16: Key Risks
AP P ENDIX 1 – KEY RISKS Tax loss risk For personal use only TEK is able to recognise a deferred tax asset for unused tax losses to the extent that it is probable that future taxable profit will allow all or part of the deferred tax asset (“DTA”) to be utilised. TEK’s historical and forecasted per
Slide 17: Key Risks
AP P ENDIX 1 – KEY RISKS Regulatory risk For personal use only All investments carry the risk that their value may be affected by changes in laws and regulations, especially taxation laws. Regulatory risk includes risk associated with variations in the taxation laws of Australia or other jurisdict
Slide 18: Key Risks
AP P ENDIX 1 – KEY RISKS Discount to net tangible assets For personal use only As an ASX-listed company, TEK’s Shares may not trade in line with the underlying value of its investment portfolio. TEK’s shares may trade at a discount or premium to the value of TEK’s net tangible assets per share. Un
Slide 19: International Offer Restrictions
AP P ENDIX 2 - INTERNATIONAL OFFER RESTRICTIONS This document does not constitute an offer of New Shares of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the For personal use only New Shares may not be offered or
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