CEO Operations Review. Chris Morris Chief Executive Officer

Transcription

1 CEO Operations Review Chris Morris Chief Executive Officer 1

2 Global Registry Still largest revenue producer Over 8000 clients globally to cross sell other services Increased focus on selling integrated solutions Major wins Thomson Financial US listing Bank of China HK listing over 400,000 shareholders Over 60% of new IPO s in Australia 2

3 Global Registry Asia Pacific Australia Represents 12% of total revenue Service issues Substantial changes to senior management New hires for call centre and operations Determined to win major clients in Australia Significant growth prospects from mainland Chinese listings 3

4 Global Registry Europe Focus on gaining some major clients from Lloyds Expansion into other European markets Opportunity for better margins in South Africa North America US conversion 90% completed now in a position to market registry to major companies ESPP conversion complete Relocations of all major offices completed Organic growth in US with only 5% market share will end up being CPU s largest market Potential acquisitions 4

5 Document Services A global business leveraging off same technology platform Operations now established in Australia, US, Canada & UK Revenue $88.4m EBITDA $9.5m 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 Bristol Water Cellular Operations Powergen 5

6 Global Analytics Global data base will be completed by Dec 02 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 Africa as part of Mercantile deal American Stock Exchange deal IRtrack will be provided to their 600 listed companies Less than 10% are existing CPU clients 6

7 Plan Managers Over 1000 clients globally Market estimated to be over US$2bn only 30% outsourced Computershare is the only global provider Globally twice the size of nearest competitor Plans is a truly global business Major hiring for key people globally Major wins BP, BAT 8 FTSE 100 company employee share plans Global company similar size to BP, subject to contracts Home Depot 95,000 employees ANZ and AMP expanded to full outsource service 7

8 Plan Managers Asia Pacific Strong growth in Australia Established operation in Hong Kong Europe Major opportunities in Europe Over 300 companies in the UK have applied for SIP plans North America Largest ESPP provider Brokers exiting business Options are not dead, more restricted stock plans 8

9 Technology Services Global options software released in Australia live for BP in November Real time dealing live in the US live in the UK Dec 02 Global Internet group now over 50 staff Exchange systems bidding on some major contracts SMARTS Recognised as world leading surveillance product Purchased by Singapore exchange and securities commission 9

10 Technology Services Asia Pacific Conversion of HK business to SCRIP Release in Australia of new products developed overseas Europe Development of SCRIP for Germany on track Mercantile book of business converted to SCRIP North America 85% of companies converted to SCRIP in the US Canadian companies converted by March 03 Infrastructure role out in NA completed 10

11 ADR Agent in the US Gained SEC approval Completed systems changes Taken on CPU ADR Short term ADR agents for international companies wishing to use for employee share plans in the US Our model can provide Substantial savings to issuers Benefits to ADR holders Seamless movement of stock cross border allowing for greater opportunity for arbitrage Discussing with some of our large international clients 11

12 Consulting Assignment with the Chinese Government Selected against major clearing houses and banks globally Evaluation and recommendations for the future clearing, settlement and registration system for China Demonstrates CPU s leading position as global expert on market structures Opportunities in the future to play a role in China Strategically important for our Hong Kong business, many mainland Chinese companies are planning to list in HK. CPU staff involved Stuart Crosby - Head of Asia Pacific region Dudley Chamberlain - Head of market structures Paul Conn -Head of Global services Iain Saville - Head of European region 12

13 Citigroup Alliance Strategic Importance: Citigroup 200m customers in more than 100 countries Credibility globally but especially in North America Potential to leverage growth from banking relationships in North America Expansion of CPU s existing relationship with Citigroup s Agency and Trust Division (established November 01) Focus on new opportunities and work together in North America and globally 13

14 Citigroup Alliance cont. Key Points Citigroup to immediately receive options over 2% of CPU s issued capital *- exercisable within 4 years CPU to issue additional options to Citigroup - up to 3% of CPU s issued capital *, conditional upon appropriate new business arising from Citigroup Form oversight committee with senior staff from both organisations to identify opportunities to work together. * All options to be issued with an exercise price based on the weighted average price of CPU shares over the last 10 days prior to the granting of option 14

15 Future Growth - Acquisitions / Partnerships North America registry and employee plans Continental Europe registry and employee plans China registry and employee plans Global plan advisor relationships Cash management / financial services products Sales channels via major brokers in the US 15