Investor Relations on the Internet Conference 7 December 1999 Hong Kong David Ward General Manager,...
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Transcript of Investor Relations on the Internet Conference 7 December 1999 Hong Kong David Ward General Manager,...
Investor Relations on the Internet Investor Relations on the Internet ConferenceConference
7 December 19997 December 1999Hong KongHong Kong
David WardDavid WardGeneral Manager, Office of the Chief ExecutiveGeneral Manager, Office of the Chief Executive
and Head of Investor Relationsand Head of Investor RelationsAustralia and New Zealand Banking Group LtdAustralia and New Zealand Banking Group Ltd
Investor Relations on the InternetInvestor Relations on the Internet
Recap on IR objectives Making Use of the Internet - reducing the “tyranny of
distance” Using the Internet - not just a Distribution channel Meeting objectives of Professional and Retail Investors Australian Environment
Creating Shareholder ValueCreating Shareholder Value
ShareholderValue
Share PriceAppreciation
DividendFlow
Price/Earnings Multiplex
Earnings Per Share
Earnings Per Sharex
Payout Ratio
Creating Shareholder ValueCreating Shareholder ValueDrivers of P/E MultipleDrivers of P/E Multiple
- Growth Profile (EPS)
- Strategy
- Management
- Quality of Earnings
- Risk Management
- Franking
- Market/Industry Valuations
Price/Earnings Multiplex
Earnings Per Share
Earnings Per Sharex
Payout Ratio
Creating Shareholder ValueCreating Shareholder ValueDrivers of Payout RatioDrivers of Payout Ratio
- Capital Position
- Growth Rate
- Competitive Yield
- Franking
Investor Relations FunctionInvestor Relations Function
Shareholder Value
Strategy“p/e”
Performance“e”
Management“p/e”
Investor Relations Function
Market Participants
Investor Relations FunctionInvestor Relations Function Internet
Point of contact Gatekeeper Co-ordinator Targeting Shareholders Spokesperson Assessment of Management
Effective tool in managing and communicating messagebut assessment of management is important for market
Making Use of the InternetMaking Use of the Internet Reducing the “tyranny of distance” Instantaneous simultaneous access - capacity constraints? One stop information shop
financial lodgement media releases Annual Reports presentation materials
Communications via email rather than fax, mail, printed outward inward
Key Issue: Keeping it all up to date!
Using the InternetUsing the Internet Company Information in “drill down” format Enquiry email off Web site Demonstration of e-Commerce capability Supplementary Information post analyst briefing Streaming of analyst briefings and AGMs Registry link for checking holdings etc Chat rooms?? Should be no different from media comment
Key Issue: Not getting carried away - remember technology is a tool!
Using the Internet to Target Using the Internet to Target ShareholdersShareholders
Building a database of email addresses for material Access to database which can be interrogated (ie own and
peer shareholdings from SEC 13F data) “Blast” emails with hot links Use of Web sites to assess Institutional Interest
(supplement broker and consultant advice)
Targeting Shareholder GroupsTargeting Shareholder Groups Individuals
Australia Yield & Franking New Zealand Banking Exposure UK Ex Staff/Long Time Holders Staff Now tax effective
Institutions Australia Index/Growth/Income Overseas Value/Growth/Income/
Index• Australian Exposure• Global Bank Fund• Asian Exposure
Australian Securities & Investment Australian Securities & Investment CommissionCommission
Guidance to companies on good disclosure practices
“Use current technology to improve investor access to your information. In particular, post significant information on your company’s web site as soon as it is disclosed to the market.”
everything lodged at ASX roadshow presentations transcripts of analyst briefings significant background information from one-on-one meetings
November 1999
Investor Relations ChallengeInvestor Relations Challenge
Fair valuation of company’s equity through eliminationof ‘information gaps’ and ‘uncertainty discounts’
“Failure is more obvious than success!”
Fair valuation of company’s equity through eliminationof ‘information gaps’ and ‘uncertainty discounts’
Investor Relations ChallengeInvestor Relations Challenge
Question TimeQuestion Time
The material in this presentation is general background information about the Bank’s activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to
be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional
advice when deciding if an investment is appropriate.
For further information visit www.anz.com or contactDavid Ward
General Manager, Office of the Chief Executiveph (613) 9273 4185, fax (613)9273 4091, email [email protected]