Sherritt International Corporation · TSX:S
Sherritt International — Debt Investor Presentation (October 2003)
12 slides from Sherritt International's debt investor presentation, October 2003
Slide 1: Investor Presentation Regarding the Proposed Issuer Bid Exchange Offer
Investor Presentation Regarding the Proposed Issuer Bid Exchange Offer October 2003
Slide 2: Disclaimer to Security Holders
Disclaimer to Security Holders These These materials materials have have been been prepared prepared for for presentation presentation toto the the holders holders of of Sherritt Sherritt International International Corporation Corporation (“Sherritt”) (“Sherritt”) 6.00% 6.00% convertible convertibl
Slide 3: Transaction Overview: Enhanced Economic Terms
Transaction Overview Enhanced Economic Terms Exchange Exchange Offer: Offer: $300 $300 million million of of Debentures Debentures for for $300 $300 million million of of New New Debentures Debentures Expiry Expiry of of Offer: Offer: December December 3, 3, 2003 2003 Summary Summary of of Key Key T
Slide 4: Transaction Overview: Rationale
Transaction Overview Rationale n n Maturity Maturity of of Debentures Debentures in in 2006 2006 is is largest largest component component of of Company’s Company’s debt debt structure structure l l Liquidity Liquidity expected expected to to be be sufficient sufficient to to repay repay in in 2006
Slide 5: Transaction Benefits: Debentureholders
Transaction Benefits Debentureholders n n New New Debentures Debentures benefit benefit more more directly directly from from increasing increasing share share price price n n Improved Improved debenture debenture terms: terms: l l Increased Increased coupon coupon of of 7.0% 7.0% (currently (curren
Slide 6: Transaction Benefits: Sherritt Investment Highlights
Transaction Benefits Sherritt Investment Highlights n n Broad Broad and and diversified diversified asset asset base base n n Management Management team team focused focused on on value value creation creation n n Strong Strong and and consistent consistent growth growth from from operations operati
Slide 7: Financial Impact: Pro-Forma Analysis
Financial Impact Pro-Forma Analysis n n If If this this offer offer is is fully fully subscribed, subscribed, the the pro pro forma forma net net effect effect of of the the proposed proposed transaction transaction on on basic basic EPS EPS is: is: l l $0.02 $0.02 per per share share dilution dilut
Slide 8: Summary Highlights
Summary Highlights n n Offer Offer to to exchange exchange up up to to $300 $300 million million of of Debentures Debentures for for New New Debentures Debentures n n New New Debentures Debentures contain contain attractive attractive terms terms n n Exchange Exchange will will provide provide capit
Slide 9: Timing and Next Steps: Process
Timing and Next Steps Process Mailing Mailing of of Circular Circular & & Letter Letter of of Transmittal: Transmittal: October October 29, 29, 2003 2003 Acceptance Acceptance of of Offer: Offer: Deposit Deposit Letter Letter of of Transmittal Transmittal and and Debentures Debentures (Multiples (Mu
Slide 10: Timing and Next Steps: Key Dates
Timing and Next Steps Key Dates DATE DATE ACTION ACTION ITEMS ITEMS Wed. Wed. Dec. Dec. 33 Offer Offer expires expires Announce Announce results results of of Offer, Offer, calculate calculate proration, proration, if if needed needed and and take take up up promptly promptly thereafter thereafter I
Slide 11: Contact Information: The Dealer Managers
Contact Information The Dealer Managers for the Offer to Exchange are: National Bank Financial Inc. BMO Nesbitt Burns Inc. Telephone: (416) 869-7939 Telephone: (416) 359-6930 1-866-807-5115 1-866-758-9860 Griffiths McBurney & Partners Paradigm Capital Inc. Telephone: (416) 943-6600 Telephone: (416)
Slide 12: Contact Information: The Depositary
Contact Information The Depositary for the Offer to Exchange is: CIBC Mellon Trust Company By Mail By Hand or by Courier P.O. Box 1036 199 Bay Street Adelaide Street Postal Station Commerce Court West Toronto, Ontario M5C 2K4 Securities Level Toronto, Ontario M5L 1G9 Telephone: (416) 643-5500 Toll F
Sherritt International — Debt Investor Presentation (October 2003) on 6ix