Computershare Limited · ASX:CPU
Computershare — Shareholder Meeting (November 2002)
17 slides from Computershare's shareholder meeting presentation, Nov 7, 2002
Slide 1: Annual General Meeting 7 November 2002
Annual General Meeting 7 November 2002 Chris Morris Managing Director 1
Slide 2: Condition of The Market
Condition of The Market FACTS We are not alone Challenging trading conditions ‣ IPOs ‣ Interest Rates ‣ Corporate Actions ‣ Dealing Services 2
Slide 3: What we are doing?
What we are doing? Managing Costs Have improved Financial Management Changing to a client and sales focussed organisation Restructured the business into geographic regions 3
Slide 4: What we will not do
What we will not do Not going to jeopardise the future of CPU by focussing on the bottom line at the expense of longer term strategies Stop looking for acquisitions Irrationally cut back on technology costs 4
Slide 5: Changing Profiles
Changing Profiles Computershare’s Reliance on Registry 5 Years Ago 2002 5 Year Current Trend Non Registry 4% Non Non Registry Registry 22% 50% Registry Registry Registry 50% 96% 78% 5
Slide 6: Changing Profile: Regional Analysis by Revenue
Changing Profile Regional Analysis by Revenue Asia Pacific North 30% America 39% Europe 31% 6
Slide 7: Changing Profiles: Overseas Revenue
Changing Profiles Overseas Revenue 5 Years Ago 2002 Overseas 7% Overseas 73% AU & NZ AU & NZ 93% 27% 7
Slide 8: Plans – Global
Plans – Global Global market estimated to be over US$2bn, only 30% outsourced Only Global provider who can manage country specific Employee Share Plans Have Employee Options Remuneration have lost their appeal? ‣ Phantom Stock ‣ Restricted Stock ‣ Repricing Options We have seen no slow down
Slide 9: Plans – Asia Pacific
Plans – Asia Pacific Australia > 80,000 employee plan participants and $450m under management Unique position: CPM Australia is earning revenue on funds under management Major wins ‣ ANZ ‣ AMP ‣ TAB Limited 9
Slide 10: Plans – North America
Plans – North America Largest ESPP provider Traditional owners exiting the business Charles Schwab: ‣ Acquired Schwab’s existing employee stock purchase plan business. ‣ Formed a strategic alliance with Schwab to exclusively provide this service to their prospective and existing clients. Sch
Slide 11: Plans – Europe
Plans – Europe Estimated 12% of the adult population participates in an employee share plan. Significant growth potential. The Inland Revenue have received 589 SIP applications, of which 337 (57%) have been approved (Source: Inland Revenue June 02) Major wins: ‣ BP ‣ BAT ‣ Philips ‣ Whitbreads
Slide 12: Document Services
Document Services A global business leveraging off same technology platform Operations now established in Australia, US, Canada & UK Totally integrated with registry system Substantial growth in selling commercial work to CPU clients Major commercial wins in excess of $8m pa in UK alone ‣
Slide 13: Analytics
Analytics IRtrack (proprietary web based global equity market share ownership & contacts management system) released in Australia, UK and Canada Expanding into other issuer services (eg. Proxy solicitation globally) Two main business streams, issuers and capital markets Established in South
Slide 14: Common Market Perceptions: United States
Common Market Perceptions United States Slow pace of Growth ‣ Stuck to our strategy ‣ ADR Approval ‣ Large US Bank ‣ Chicago Mercantile Exchange Dow Jones experienced its best month ever in October 14
Slide 15: Common Market Perceptions: Australia
Common Market Perceptions Australia Bad service levels Losing clients In open competitive tender we retained: ‣ David Jones ‣ TAB Limited 15
Slide 16: Asia
Asia Hong Kong Cheung Kong Life Sciences (approx 40,000 shareholders) Bank of China (approx 380,000 shareholders) Standard Chartered (HK Register) (approx 5000 shareholders) 16
Slide 17: Global Strategy
Global Strategy Vision from 5 years ago, to be a Global Service Provider has not changed. Done all the hard work ‣ March 2003, SCRIP deployed across all businesses globally ‣ Global access for multi-national companies 17