Perpetual Limited · ASX:PPT
Perpetual — Merger or Acquisition (May 2013)
11 slides from Perpetual's merger presentation, May 7, 2013
Slide 1: Acquisition of The Trust Company
ACQUISITION OF THE TRUST COMPANY For personal use only Geoff Lloyd Chief Executive Officer & Managing Director Gillian Larkins Chief Financial Officer 7 May 2013
Slide 2: Disclaimer: Important information
DISCLAIMER Important information For personal use only The information in this presentation about the Perpetual Group is in summary form and is not necessarily complete. The information in this presentation is not intended to be relied upon as advice to investors or potential investors and does not
Slide 3: Strategically attractive and financially compelling acquisition
STRATEGICALLY ATTRACTIVE AND FINANCIALLY COMPELLING ACQUISITION For personal use only Perpetual to acquire 100% of the ordinary shares in The Trust Company through a Scheme of Arrangement • Accelerates growth, delivers significant strategic benefits for Perpetual and contributes to the Transformatio
Slide 4: Offer summary
OFFER SUMMARY For personal use only • The Trust Company shareholders will receive: • 0.1495 Perpetual shares for each The Trust Company share, equivalent to $6.17 per share¹ (Scheme Consideration); and • a special dividend of $0.22 per The Trust Company share, expected to be fully franked • Equivale
Slide 5: Overview of The Trust Company
OVERVIEW OF THE TRUST COMPANY The Trust Company’s origins date back to 1885 with a heritage and client service culture consistent with Perpetual’s For personal use only Personal Corporate Client Services Client Services • Provides advice and • Provides services including expertise in estate planning
Slide 6: Accelerate Transformation 2015
ACCELERATE TRANSFORMATION 2015 For personal use only • The acquisition of The Trust Company contributes to Perpetual’s Transformation 2015 strategy refocusing on areas of competitive advantage and leveraging core businesses for new growth • The enhanced IT and Perpetual Private platform capabilities
Slide 7: Complementary business mix
COMPLEMENTARY BUSINESS MIX Complementary businesses to Corporate Trust, economies of scale to Perpetual Private and Perpetual For personal use only Investments Combined (Excludes Synergies and Implementation Costs) (Last 12 Months Reported) Corporate Trust Corporate Trust 15% 20% Revenue Perpetual P
Slide 8: Key business metrics
KEY BUSINESS METRICS Enhancing capability in Corporate Trust and delivering economies of scale in Perpetual Private and For personal use only Perpetual Investments The Trust Perpetual 1 Combined Change Company 2 Perpetual Investments FUM $b 26.0 1.3 27.3 +5% Perpetual Private FUA $b 8.8 4.6 13.4 +52
Slide 9: Meaningful synergies expected to be EPS accretive from FY14
MEANINGFUL SYNERGIES EXPECTED TO BE EPS ACCRETIVE FROM FY14 For personal use only • Significant expense synergies expected at both the corporate and business unit levels through the rationalisation of administrative and technology costs including: • Removing duplicate support infrastructure • Consol
Slide 10: Timeline and expected next steps
TIMELINE AND EXPECTED NEXT STEPS For personal use only Key events Indicative Date Transaction announced 7 May 2013 Seek regulatory approvals Ongoing First Court hearing to obtain orders convening Scheme meeting June The Trust Company dispatches Scheme Booklet to The Trust Company’s shareholders June
Slide 11: Strategically attractive and financially compelling acquisition
STRATEGICALLY ATTRACTIVE AND FINANCIALLY COMPELLING ACQUISITION For personal use only Perpetual to acquire 100% of the ordinary shares in The Trust Company through a Scheme of Arrangement • Accelerates growth, delivers significant strategic benefits for Perpetual and contributes to the Transformatio