Apresentação de Ricardo Lanfranchi, Head of Equities Sales, Barclays Capital, no Seminário “Targeting: Como conhecer e gerenciar sua base de acionistas?”, realizado pelo IBRI em 18/08/2009 em SP. Sales – O Targeting “em ação”

1. Sales
O Targeting “em ação”
Targeting in action
Equities
Brazil
August 2009
Confidential Presentation

2. Table of Contents
Agenda
1. Leveraging Sell-Side Platforms
2. Case Studies

3. Leveraging Sell-Side Platforms

4. A focal point for market intelligence and strategic
advisory
Leveraging Sell-Side Platforms
Specialists provide objective market intelligence and advice to
Providing Market corporates, while obtaining access for institutional investors
Intelligence Through intelligence gathered around the corporate access product,
actively engage appropriate internal partners
Brokers are positioned to seek opportunities such as share buybacks
Transaction-Focused and capital market transactions, and to offer other capabilities
Additionally, supported by a robust logistics team
Research Sales are effectively a high-end RM team, interacting with
Public-Facing company management teams and investors, broadly, on a regular
basis
The Sell Side teams come from industry, as well as Wall Street,
Offering Experience offering many years of relevant experience
Corporate access is a market-driven initiative, emerging from a key
Responding to trend showing that institutional investors are allocating an increasing
Market Demand
portion of their unbundled commission dollars to this service.
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5. A partnership basis to deliver results to corporations
and investors
Pre-Event Event Post-Event
Thoughtful preparation for Enhancing investor Insightful investor
each event relations strategies feedback
Offer companies Conduct in-depth Candid, timely,
informed perspective shareholder analyses confidential feedback
on the buyside and to offer thoughtful from investors to
likely topics for guidance regarding assist informing
discussion investor targeting future messaging
and strategies
Craft a plan to reach Assist Investor
investors that can Relations and Offer follow up where
satisfy corporate corporate appropriate across
business objectives management in Barclays Capital
testing ideas and franchise
business decisions
impacting
shareholders
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6. The evolution of Institutional Corporate Marketing
Basic logistic services
Enhanced market intelligence and broad origination that extends
and origination solely
into C-Suite advisory
from research analysts
Inner Circle Status
Best in Class A consistent dialogue
Market Intelligence with
Broadest offering of targeted corporates
ICM Launched industry specific C-Suite thought
market intelligence partners and trusted
Flawless logistics*
Leverage Barclays advisors
Basic Logistics Top 3 in both Capital’s intellectual Integration across the
Acceptable quantity and quality resources Firm to source unique
logistics* of meetings
opportunities
“Middle of the 100% of corporates
pack” event receive feedback
volume
Consistent
<25% of the experience
companies across global
received feedback regions
*Barclays Events team is our execution arm
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7. Our Mission
To be recognized as a premier corporate
advisory platform on the market; we
seek to achieve trusted advisor status
with corporates and influence the
dialogue with the investment
community.
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8. Case Studies

9. Case Study #1 – The Dividends Deadlock
Case Studies
Situation Our Approach
Company X requested an First, we looked at Company X dividend profile: a fixed,
NDR to increase their minimum annual dividend, followed by one special dividend
Dividend Funds that was quite erratic (and given Company X cash
shareholders base generation, quite good as well, but still volatile)
Second step was to check the trading pattern of the
company, not only the public database (volumes, etc) but
also our internal data, which contains accurate information
on who did what, when (we obviously don’t disclose it to the
Typical Solution
company). We figured out there was a lot of speculation
The plain vanilla
around the special dividend season, with many players
approach would be to
trading that dividend itself
book a full schedule with
Dividend Funds Sales conducted extensive conversations with Dividend
managers Funds and, mostly, shareholders alike, to identify the issues
regarding the company dividend policy
Research, on top of that information, analysed data and
came up with a NDR strategy
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10. Case Study #1 – The Dividends Deadlock
Case Studies
Outcome
A 7-day NDR was done, and the company, with our advice, concluded that the best
way to sell a consistent dividend policy to investors (and therefore to attract
Dividend Funds to its shareholders base) was to boost the fixed dividend, and
break the special dividend in 4 quarterly announcements
It maintained the HF community interested in the special dividends play (in fact it
enhanced liquidity as it was spread throughout the year) and attracted a fair
number of Dividend Funds
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11. Case Study #2 – What To Do With Money Honey
Case Studies
Situation Our Approach
Company Y Company Y had a serious time constraint in their
approached us with a calendar, had limited time to be on the road
question: what
We then made a multi-dimensional analysis of their
investors want them to
existing account base, to meet the following criteria:
do with their excess
cashflow Size of the position
Relevance to the market
Bias on the issue (they were under pressure by
Typical Solution
some specific hedge funds to distribute the money)
The easiest
solution would Investors that were not stock holders yet, but with a
have been to hit strong edge in that sector were added to the list
the road, and
have them
hearing random
answers
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12. Case Study #2 – What To Do With Money Honey
Case Studies
Outcome
We organized a short, focused NDR
Feedback from investors was collected throughout the NDR and afterwards, which
were presented to the company management
Management took both sets of feedbacks – the ones that they heard from
investors and the ones we collected, confidentially, afterwards, to their Board of
Directors
On top of that, the company became more aggressive in their M&A strategy.
That ultimately led to stock price appreciation and a broader shareholder base
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13. Case Study #3 – Whole Lotta Love
Case Studies
Situation Our Approach
Company Z wants to Company Z knew they could count on us to better
acquire Company K, communicate their intentions to the market
which has a very
Our advice to Company Z was to communicate their
fragmented
intentions to the market; not only the fact that they
shareholder base
want to acquire Company K, but also, more
importantly, what they want to do with Company K -
and why that transaction make sense for
Typical Solution
shareholders of both Company Z and Company K
Not much of
communication here: We organized a multi-month, multi-region extensive
launch a bid for NDR with 2 different teams for Company Z to meet
Company K and wait Company K’s shareholders
to see what happens
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14. Case Study #3 – Whole Lotta Love
Case Studies
Outcome
The acquisitoin was a success, with huge support of Company K’s institutional
shareholders
One year after the acquisition, another extensive NDR was conducted with the
new, combined management
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15. Institutional Corporate Marketing – The Relationship Hub
Investors
Sales Corporations
ICM
Trading Research
Banking Derivatives
Source: Barclays Capital Brazil
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16. Disclaimer
This document has been prepared by Barclays Capital, the investment banking division of Barclays Bank PLC ("Barclays"), for information purposes only. This document is
an indicative summary of the terms and conditions of the securities/transaction described herein and may be amended, superseded or replaced by subsequent summaries.
The final terms and conditions of the securities/transaction will be set out in full in the applicable offering document(s) or binding transaction document(s).
This document shall not constitute an underwriting commitment, an offer of financing, an offer to sell, or the solicitation of an offer to buy any securities described herein,
which shall be subject to Barclays’ internal approvals. No transaction or services related thereto is contemplated without Barclays‘ subsequent formal agreement. Barclays
is acting solely as principal and not as advisor or fiduciary. Accordingly you must independently determine, with your own advisors, the appropriateness for you of the
securities/transaction before investing or transacting. Barclays accepts no liability whatsoever for any consequential losses arising from the use of this document or reliance
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