Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — Shareholder Meeting (November 2018)
23 slides from Omni Bridgeway's shareholder meeting presentation, Nov 21, 2018
Slide 1: Chairman's Address and Managing Director's Presentation to Shareholders at 2018 AGM
For personal use only RELEASE TO AUSTRALIAN SECURITIES EXCHANGE WEDNESDAY, 21 NOVEMBER 2018 CHAIRMAN’S ADDRESS AND MANAGING DIRECTOR’S PRESENTATION TO SHAREHOLDERS AT 2018 ANNUAL GENERAL MEETING In accordance with Listing Rule 3.13.3, please refer to the following attached documents: Part One: Chair
Slide 2: Address by Chairman Michael Kay to the Annual General Meeting
Page 2 of 5 ADDRESS BY IMF BENTHAM LIMITED CHAIRMAN MICHAEL KAY TO THE ANNUAL GENERAL MEETING 21 NOVEMBER 2018 Ladies and gentlemen, welcome to the annual general meeting of IMF Bentham Limited for 2018. For personal use only My name is Michael Kay and I am the Chairman of IMF Bentham Limited. This
Slide 3: For personal use only
Page 3 of 5 Chair of Headspace, the national youth mental health foundation and a number of executive roles in governments and not for profits; Wendy has also been a school teacher and author of a number of published books. Wendy also somehow found time to be a mentor and coach with a particular int
Slide 4: For personal use only
Page 4 of 5 • As well as ensuring we have access to capital for growth, we also understand that in these uncertain times, diversity and duration of capital sources are critical to the management of liquidity risk. Accordingly, last month we raised around $75m through a fully underwritten institution
Slide 5: Presentation by Managing Director Andrew Saker
Page 5 of 5 PRESENTATION BY IMF BENTHAM LIMITED MANAGING DIRECTOR ANDREW SAKER TO THE ANNUAL GENERAL MEETING 21 NOVEMBER 2018 For personal use only
Slide 6: Annual General Meeting November 2018
For personal use only Annual General Meeting 21 November 2018
Slide 7: Welcome to the Annual General Meeting of IMF Bentham
For personal use only Welcome to the Annual General Meeting of IMF Bentham Michael Kay – Non-Executive Chairman
Slide 8: IMF Highlights
IMF Highlights For personal use only IMF Bentham Limited has collected $2.3 billion for clients and successfully resolved 90% of 179 completed cases since listing on the ASX in 2001 Human Capital Leading global litigation funder. A talented global team formed over 17 years, numbering 85 people.
Slide 9: Financial Results Overview
Financial Results Overview For personal use only FY2018 FY2017 FY2018 v FY2017 Contract Income $71.2M $113.3M ▼37% Litigation Expenses $(54.7)M $(59.2)M ▲8% Net Income from investments $16.5M $54.1M ▼69% Other income (foreign exchange & interest) $6.6M $2.9M ▲128% Net Operating Expenses $(31.5)M $(3
Slide 10: Balance Sheet Strength
Balance Sheet Strength For personal use only Cash Investments 1 Equity ($ Million) ($ Million) ($ Million) 321.3 367.8 160.2 144.9 26.0 5.5 142.5 175.4 139.4 134.2 130.1 198.8 190.9 206.3 10.3 105.6 2.4 180.6 203.93 201.40 192.40 191.10 185.90 145.6 122.5 99.5 98.6 2014 2015 2016 2017 2018 2014 2015
Slide 11: IMF Bentham's Track Record of Success
IMF Bentham’s Track Record of Success For personal use only A$2.3b 2.7 years 90% $860m total recoveries average duration success rate IMF’s revenue Delivering results A$1.4b 74 179 150% ROIC 161 for over returns for funded active investments funded 2.5x MOIC 17 years 18 claimants investments to comp
Slide 12: Funding Applications
Funding Applications For personal use only Funding applications (number of applications) 900 Financial Year to Date 866 30 Sep 18 800 827 700 Australia 84 669 600 USA 64 500 446 Canada 33 400 371 309 345 356 300 301 302 Asia 23 264 200 170 Europe 18 100 104 127 59 55 0 12 7 26 Consolidated 222 FY15
Slide 13: Actual and Budgeted Funding Commitments
Actual and Budgeted Funding Commitments For personal use only $250.0m $199.0m $200.0m $172.0m Funds Committed (A$m) $147.0m $150.0m $106.0m $100.0m $81.0m $54.0m $50.0m $0.0m Actual Actual Actual Actual Budgeted Budgeted FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 Material growth in funding commitme
Slide 14: US Fund – Commitments, Deployed, Capacity
US Fund – Commitments, Deployed, Capacity (as at 30 September 2018) For personal use only Rate of commitment was on schedule prior to sale of investments to Fund 1. Fund 1 structured to accommodate sale of balance sheet investments. Investments were subjected to third- party due diligence, and
Slide 15: RoW Funds – Commitments, Deployed, Capacity
RoW Funds – Commitments, Deployed, Capacity (as at 30 September 2018) For personal use only RoW Funds commenced in October Other Costs 2017, and are ahead of schedule in Investment AUD 14.7m terms of investment commitments. Deployments AUD 8.7m Remaining The contribution from non-Australian Fund
Slide 16: Investment Portfolio
Investment Portfolio (as at 30 September 2018) For personal use only See notes to Investment Portfolio at 30 September 2018 (Slide 16) for further details Possible Possible Possible Priority IMF IMF share completion Preferred Number of EPV completion completion capital capital of FY2021 and return i
Slide 17: Diversification by Type
Diversification by Type (as at 30 September 2018) For personal use only EPV by investment type ($m) 37 Diversification of type of investments between 653 balance sheet and funds. Opportunistic investor, so no hard rules on blend of 268 investments, other than: 240 1,899 Fund 1 hard cap on pate
Slide 18: Risk Factors
Risk Factors For personal use only Strategic plan: transition from idiosyncratic risk to systemic risk of portfolio. Reflected in number of investments, diversity in case types, sizes & jurisdictions Wivenhoe and Westgem reflect asymmetric risk Material risk if lost Material adverse cost ris
Slide 19: Developments Since July 2018
Developments Since 1 July 2018 For personal use only Well supported by existing and new institutional Share placement raised shareholders A$74.48 million Provides platform to facilitate growth without constraint by completions Opportunity for retail investors to participate in new equity at sa
Slide 20: The Future
The Future For personal use only Increased world-wide awareness of IMF and appetite for dispute finance. Becoming Mainstream Growing global litigation funding market with a total addressable market of 76.8b per annum. Finance solvent corporates across all jurisdictions. International arbitra
Slide 21: Notes to Investment Portfolio
Notes to Investment Portfolio (as at 30 September 2018) For personal use only Notes to the Group’s Investment Portfolio Investments Included in Portfolio Possible Completion Periods The Investment Portfolio includes investments for which the IMF group or the The possible completion period is IMF’s c
Slide 22: Disclaimer
Disclaimer For personal use only The material in this presentation has been prepared by IMF Bentham Limited (IMF) and is general background information about IMF's activities. The information is given in summary form and does not purport to be complete. A number of terms used in this presentatio
Slide 23: For personal use only
For personal use only www.imf.com.au info@imf.com.au 1800 016 464