Benjamin Hornigold Ltd. · ASX:BHD

Benjamin Hornigold — Shareholder Meeting (November 2020)

23 slides from Benjamin Hornigold's shareholder meeting presentation, Nov 5, 2020

  1. Slide 1: Annual General Meeting 5 November 2020

    For personal use only “veritas et aequitas” ANNUAL GENERAL MEETING 5 NOVEMBER 2020

  2. Slide 2: Your Board

    For personal use only Your Board Mr Michael Glennon Non-Executive Chairman and Company Secretary Mr Sulieman Ravell Non-Executive Director Mr Gary Miller Non-Executive Director

  3. Slide 3: Agenda

    For personal use only AGENDA • Director’s Presentation • Questions and answer time • Consideration of Accounts • Questions and answer time • Consideration of Resolutions • Questions and answer time

  4. Slide 4: Agenda

    For personal use only AGENDA • Director’s Presentation • Questions and answer time • Consideration of Accounts • Questions and answer time • Consideration of Resolutions • Questions and answer time

  5. Slide 5: Disclaimer

    For personal use only Disclaimer • The information provided in this presentation has been prepared by Benjamin Hornigold Limited (BHD) (ABN 62 614 854 045). The information herein is general information only and should not be construed as an offer for sale, nor does the information provided constitu

  6. Slide 6: BHD Directors Presentation

    For personal use only BHD Directors Presentation 1. Investment Strategy 2. BHD Share Price 3. Update on JBFG 4. BHD Performance 5. Portfolio Holdings

  7. Slide 7: Investment Strategy

    For personal use only Investment Strategy 1. Structure - all three directors are actively involved in idea generation, research and investment selection. 2. An investment idea must be supported by at least two directors to be added to the portfolio. 3. We are open to a wide investment universe and s

  8. Slide 8: Investment Strategy

    For personal use only Investment Strategy • We are opportunistic, value orientated, risk aware and index unaware. • We do not feel compelled to be fully invested through the cycle. • Rather we will be inclined to selectively increase exposure during periods of market weakness and trim positions by p

  9. Slide 9: BHD Share Price

    For personal use only BHD Share Price BHD Share Price 0.27 0.26 0.25 0.24 0.23 Share Price up by 15% 0.22 0.21 0.2 0.19 0.18 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020

  10. Slide 10: Update on JB Financial Group Pty Ltd (JBFG)

    For personal use only Update on JB Financial Group Pty Ltd (JBFG) • Currently in liquidation • $2.2 million unlisted loan secured to JBFG • $0.8 million unsecured loan to JBFG • Not carried in NTA numbers

  11. Slide 11: BHD Performance (NTA Movement)

    For personal use only BHD Performance BHD Performance (NTA Movement) 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% -0.50% -1.00% -1.50% May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020

  12. Slide 12: BHD Investment Portfolio Returns

    For personal use only BHD Investment Portfolio Returns BHD Performance of funds allocated to investments 0.09 0.08 0.07 0.06 0.05 0.04 0.03 0.02 0.01 0 -0.01 -0.02 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Figures shown are only reflective of the funds allocated to investments and not in

  13. Slide 13: Portfolio Holdings

    For personal use only Portfolio Holdings Examples: 1. Discount Capture Strategy - Ellerston Investments Ltd (EGI) 2. Takeover/Arbitrage - Onevue Holdings Ltd (OVH) 3. Deep Value/Event Driven - Unibail-Rodamco-Westfield (URW)

  14. Slide 14: Ellerston Global Mid Small Cap Fund

    For personal use only Ellerston Global Mid Small Cap Fund Discount Capture • Ellerston Global Investments (EGI) announced that they would be converting the LIC to an unlisted managed fund • Opportunity to buy at a 7-8% discount to NTA • Gain broad equity exposure at a discount with a clear pathway t

  15. Slide 15: Onevue Holdings Ltd (OVH)

    For personal use only Onevue Holdings Ltd (OVH) Takeover • Initial takeover offer from Iress was $0.40 per share • Share price was $0.38 • Expectation was a lower risk opportunity over 6 weeks • We felt it likely a higher offer and/or franking credit balance may also result • Iress revised their off

  16. Slide 16: Unibail-Rodamco-Westfield (URW)

    For personal use only Unibail-Rodamco-Westfield (URW) Deep Value • Average entry price at $2.90 • Large NTA discount in excess of 75% • Retail shopping - Unloved sector – COVID! • High quality property portfolio – less likely to be impacted long term • Initial signs suggest less impact from Covid th

  17. Slide 17: Agenda

    For personal use only AGENDA • Director’s Presentation • Questions and answer time • Consideration of Accounts • Questions and answer time • Consideration of Resolutions • Questions and answer time

  18. Slide 18: Consideration of Accounts

    For personal use only Consideration of Accounts • To receive and consider: • (a) the financial statements; • (b) the directors' report; and • (c) the auditor's report • … of BHD for the year ended 30 June 2020. • These statements and reports are placed before the Shareholders for discussion and Shar

  19. Slide 19: Agenda

    For personal use only AGENDA • Director’s Presentation • Questions and answer time • Consideration of Accounts • Questions and answer time • Consideration of Resolutions • Questions and answer time

  20. Slide 20: Resolution: Adoption of the Remuneration Report

    For personal use only Resolution 1 • Adoption of the Remuneration Report That the Remuneration Report required by section 300A of the Corporations Act 2001 (Cth) as contained in the Company’s Directors Report for the year ended 30 June 2020 be adopted by the Shareholders. • Proxy Summary FOR OPEN AG

  21. Slide 21: Resolution: Re-election of Mr Sulieman Ravell

    For personal use only Resolution 2 • Re-election of Mr Sulieman Ravell as a Director “That Mr Sulieman Ravell, who retires by rotation in accordance with Rule 5.1 of the Company’s Constitution, and being eligible, be re-elected as a Director of the Company.” • Proxy Summary FOR OPEN AGAINST ABSTAIN

  22. Slide 22: Special Resolution 3: Increased Share Issue Capacity

    For personal use only Resolution 3 • SPECIAL Resolution 3: Approval of increased Share issue capacity under Listing Rule 7.1A “That, for the purpose of ASX Listing Rule 7.1A, and for all other purposes, the issue of equity securities up to 10% of the issued capital of the Company (at the time of the

  23. Slide 23: End of Resolutions

    For personal use only End of Resolutions Please ensure you had cast your votes on the 3 resolutions

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