Perpetual Limited · ASX:PPT
Perpetual — Perpetual Trustees Australia — Shareholder Meeting (2003)
23 slides from Perpetual's shareholder meeting presentation, 2003
Slide 1: Perpetual Trustees Australia Limited Annual General Meeting 2003
Perpetual Trustees Australia Limited Annual General Meeting 2003
Slide 2: Perpetual logo
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Slide 3: Chairman: Mr Charles Curran AO
Perpetual Trustees Australia Limited Annual General Meeting 2003 Mr Charles Curran AO Chairman
Slide 4: Resolution 1
Resolution 1 ¾To receive and consider the financial report of the Company for the year ended 30 June 2003 and the reports of the Directors and Auditors 3
Slide 5: Growing core revenues
Growing core revenues ($m) @ Core revenues OAPRL and Fund Services Jun 99 Jun 00 Jun 01 Jun 02 Jun 03 Financial year ended
Slide 6: Consistent profit growth
Consistent profit growth ($m) DEBITDA m PAT* 100.7 82.0 71.4 60.3 58.7 40.7 28.6 30.7 113.6 68.2 Jun 99 Jun 00 Jun 01 Jun 02 * Profit after tax attributable to members, before net gains on sale of investments Jun 03 Financial year ended
Slide 7: Basic EPS
Basic EPS (¢ per share) Jun 99 Weighted average number of shares (m) 378 Financial year ended
Slide 8: Dividends per share
Dividends per share (¢) @ Special dividends m Normal dividends 130.0 110.0 85.0 60.0 65.0 Jun 99 Jun 00 Jun 01 Jun 02 Jun 03 35.4 36.6 37.2 37.8 37.8 Weighted average number of shares (m) Financial year ended
Slide 9: Solid financial position
Solid financial position ¾ Net assets: $287.4m ¾ Investments: $102.1m at market value ¾ Net cash holdings: $113.2m ¾ Borrowings equate to 16.7% of equity ¾ Franking credits: $54.8m 8
Slide 10: Perpetual Investments
Perpetual Investments ¾ Revenues up 10.3% to $146.5m ¾ Excellent researcher ratings and fund performance for Australian equities ¾ Mortgage fund grew strongly to $2.4b ¾ International fund performance improving ¾ New funds launched 9
Slide 11: Strong retail/masterfund inflows
Strong retail/masterfund inflows FUM ($B) 6.0 2.2 5.7 6.0 5.5 4.5 4.9 2.3 4.2 9.2 7.9 3.4 5.0 2.9 1.2 Jun 99 Jun 00 Jun 01 Jun 02 Jun 03 Masterfund Retail Institutional 10
Slide 12: Personal Financial Services
Personal Financial Services ¾ Revenues $65.6m — in line with 2002 ¾ Market values affected revenues and earnings ¾ But gross inflows were solid — $760m ¾ Overall cost base improved for 2004 ¾ Total funds managed — $5.1b 11
Slide 13: Corporate Trust
Corporate Trust ¾ Revenues up 14.5% to $41.9m ¾ Securitisation assets up 36% to $71b ¾ New clients won: SG, Merrill Lynch, Investec, Firstmac, MacLaughlins, Macarthur Cook, James Fielding ¾ Fund governance solutions unit winning new Responsible Entity mandates 12
Slide 14: ASX Perpetual Registrars
ASX Perpetual Registrars ¾ Revenues up 12% to $48.9m, despite subdued markets ¾ EBITDA up 42% to $12.1m ¾ Major new clients: Brambles, Fairfax, Australian Agricultural Co, BHP Steel, Investa, David Jones and Westpac ¾ Well positioned for upturn in corporate actions and IPOs 13
Slide 15: New MD & CEO - David Deverall
New MD & CEO - David Deverall ¾ Formerly with Macquarie Bank ¾ Strong background in wealth management industry ¾ Experience in product development/innovation and geographic expansion ¾ Combination of strategic ability and commercial drive 14
Slide 16: Commitment to Corporate Governance
Commitment to Corporate Governance ¾ Welcome the ASX Corporate Governance Guidelines ¾ Corporate Responsibility Statement in annual report expanded ¾ Corporate governance changes: – Definition of independence adopted – Nominations Committee established – Discontinued retirement benefits for new dire
Slide 17: Managing Director: Mr David Deverall
Perpetual Trustees Australia Limited Annual General Meeting 2003 Mr David Deverall Managing Director
Slide 18: Resolution 1
Resolution 1 ¾To receive and consider the financial report of the Company for the year ended 30 June 2003 and the reports of the Directors and Auditors 17
Slide 19: Resolution 2
Resolution 2 ¾To Elect a Director - Mr Stephen Chapman retires in accordance with article 15.3 (b) of the Company’s constitution and being eligible, offers himself for re-election 18
Slide 20: Resolution 3
Resolution 3 ¾To Elect a Director - Mr John Curtis retires in accordance with article 15.3 (b) of the Company’s constitution and being eligible, offers himself for re-election 19
Slide 21: Resolution 4
Resolution 4 ¾ ‘For the purpose of the Australian Stock Exchange Limited Listing Rule 10.14, that approval be given for the issue of ordinary shares in the Company and options to subscribe for ordinary shares in the Company for three years after the date of this meeting to, or on behalf of, Mr David
Slide 22: Resolution 5
Resolution 5 ¾ ‘That the Company’s constitution be altered by inserting a new article 9.7 and new schedule 2 relating to proportional takeover bids on the same terms as article 9.7 and schedule 2 of the constitution which applied until 17 October 2003, subject to all references in that article and s
Slide 23: Perpetual Trustees Australia Limited Annual General Meeting 2003
Perpetual Trustees Australia Limited Annual General Meeting 2003
Perpetual Trustees Australia — Shareholder Meeting (2003) on 6ix