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Cockrell Group Presentation
- 1. Text
- 2. Analysis Planning Execution
- 3. 10% Market capitalization impacted by GOOD investor relations
- 4. 15% Market capitalization impacted by POOR investor relations
- 5. 65% Management historically not in sync with investors & analysts
- 6. Multi-tasking the IR role is... a disservice to your shareholders.
- 8. We are... Strategic, Focused, Direct
- 9. STRATEGIC Align the right company with the right investors
- 10. FOCUSED Small-to-mid cap companies
- 11. DIRECT Access to analysts and investors in your industry
- 12. Other Firms Experience Attentiveness Proactive Accessibility Responsive Healthcare focused IR Excellent Good Poor
- 13. What we do... Analysis, Planning, Execution
- 14. THE PROCESS Analysis: Current/Prospective shareholders Planning: IR Audit, Message Alignment Execution: Market-the-Market - Buy/Sell-Side
- 15. OUR GOAL Enhance Credibility Improve Visibility management access non-deal roadshows analyst coverage transparency institutional investors guidance responsiveness investor conferences industry knowledge analyst meetings
- 16. ANALYSIS Companyโs View vs. Streetโs View โข Gaps in view Momentum Growth Company Valuation โข Disparate shareholder composition Value โข Volatility risk Income GARP โข Credibility risk Industry Fundamentals
- 17. PLANNING P re lim in a ry V a lu a ti o n & A n a ly s is EBITDA com pared with EV/ โข CSU is currently EBITDA trading at a mult given the EBIT iple only sligh DA margin it tly above its peer generates. This s, however it premium to its would be the should comman peer group. same when usin d a slightly high Nonetheless, g EBITDAR; the er multiple the company the EBITDA mar company also may have add gin relative to trades at a itional upside. its EV multiple is quite narrow suggesting that 2010 EBITDA Margin EV/2010 EBITD 20 17.8 A 15.8 โข Perception study 15 13.5 14.6 14.2 10 8.8 5 13.7 10.1 0 5.9 5.5 5.9 CS 6.2 U H CSU โข It isto rica ESC SUNH is Cockrell Gro alwa l ENSG SKH ys g Share actiup Valuation Mat h ODSY v โข Solid industryity an ood rix ld o fundamentals ha do to er โข IR Audit GROWTH orien ppo come s d comp v bine with a high trading rtun ted investors.it om osit multiple sugg ies eM ion ests that CSU to a om shares should ttra entu attract more ct n mm ew one inve y in 40% 3/09 sto rs to the sto the ck. g sto This n io r L iv in 30% ck. cre 6/09 ate s vo p it a l S e latilit Momentum tion y, w 20% Growth hich Company Valua Ca 9/09 pro pag ate ment s tr 10% Value adin Assess g 12/0 9 0% Income GARP โข Message re๏ฌnement YTD Mo 201 me ntum 0 G ro Industry Fundame CS UT wth ntals n & CEO โข Lo urnov e Chairma GA hen, Vic w tu er RP :! Larry Co O inve rnoCSU ver Assessment! for attie, CF Prepared Ralph Be p sto rs to like ly d Valu ! rell Grou the ue e ! The Cock sto to lo sident of ry w w liq Inco ckrell, Pre ill c uidit me :! Rich Co rea te a y of 5 by sha Prepared no ppo re p Spe , 2010 3/09 rtun rice cialt bruary 19 80% ity fo , wh ich y Friday, Fe CSU - 1.0 r leg acy stag Inde l number: sha nate x Proposa 60% reh s sh 6/09 โข Marketing plan old are ers pric to e ep xit th erfo 40% ep rma n 9/09 osit ion. ce. In trod uc 20% ing new 12/0 9 0% llgroup.co m W cockre 2.3369 F 866.880.1512 YTD 09 T 404.94 201 or Atla nta, GA 303 0 18th Flo cht ree Street Low 1230 Pea Group Cockrell Mo de rate Hig CS UA h sse ssm ent! 8
- 18. 70% Con๏ฌict of interest when equity sales teams arrange non-deal roadshows... 73% Investor introductions are facilitated through the sell-side.
- 19. EXECUTION Market-the-Market: Meeting investors in the right markets 6 1 2 4 3 5 GARP concentration Mixed asset pools
- 20. Next Consideration How will this impact my budget?
- 21. 47% Reported IR budget between $250k and $1million Small-to-mid cap companies has budget of less than $1 million 80%
- 22. $120k IRO with at least 5 years experience 50% Bene๏ฌts & Bonus Compensation $50k IR Services and Administration
- 23. 50%
- 24. STRATEGIC FOCUSED DIRECT
- 25. โIf youโre not appearing.... youโre disappearingโ Art Blakey, legendary jazz musician
- 26. Analysis Planning Execution
- 27. Text