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Quince Capital Limited Overview - Reunert Investors Day 26 September 2007

Explore Quince Capital's business focus, key ventures, and financial priorities presented at the Reunert Investors Day in 2007. Learn about their niche financing approach, joint ventures, and strategic acquisitions. Discover insights into RC&C Finance and ZS Rational growth strategies. Find out about Quince Scripfin's unique loan offerings and expansion plans.

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Quince Capital Limited Overview - Reunert Investors Day 26 September 2007

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  1. Quince Capital Limited Reunert Investors Day Tiaan Kotze 26 September 2007

  2. Introduction • Quince Capital • Shareholders & Directors • Business Focus • Front Line Businesses • RC&C • ZS Rational • Quince Scripfin

  3. Joint Venture • Conceptualised in 2006, implemented effective1 May 2007 • Reunert contributed: RC&C book (Nashua finance) • PSG contributed: ZS Rational, margin lending book in Quince Scripfin plus significant capital • Potential initial earnings dilution for Reunert with significant earnings growth potential

  4. Quince Capital Shareholding & Group Structure

  5. Directors • Michiel Le Roux (chairman) • Johan du Preez (ceo) • Gerrit Pretorius • Dave Rawlinson • Chris Scoble • Pat Gallagher • Jannie Mouton • Chris Otto • Jaap du Toit

  6. Business Focus • Niche financing opportunities • Not in direct competition with big banks • Invest in good lending business constrained by capital • Innovative funding - invest in debt raising expertise • Establish culture to attract finance entrepreneurs

  7. Business Focus • Double profit in 3 years • Expected normalised PAT – R60/70m • Total lending book > R1.7bn • Target business with at least 20% ROE • Immediate priority: • Optimise funding arrangements • Efficient use of capital

  8. RC&C Finance Limited • Acquired from Reunert on 1 May 2007 • Financing of office equipment • Nashua finance • Quince Asset Rentals • Discounting of rental agreements • Competitors: Sasfin, Fintech, Technofin, ABSA Technology Finance, Merchant West

  9. RC&C – Infrastructure • Mike Purnell (MD) and team consisting of experienced CA’s and bankers. • 45 employees • Originate countrywide & operate from 2 offices in Johannesburg • Expanding services • Nashua = 25% • Quince Asset Rental • Partnerships

  10. RC&C Priorities • Funding through securitisation • Standard Bank/Blue Titanium conduit • Finalising the enhancement levels • Margins contracted before subprime collapse • Consolidation of SPV • Hedging all interest rate risk • Expand in context of good risk & credit management

  11. ZS Rational • Acquisition – competition commission • Origins in residential mortgage bridge finance • Industry estimated at R2bn • To be renamed Quince Property Finance • NCA compliant • Growing rapidly - Current book > R70m • Competitors include Paforma, Rodel, Bridgeway, Mettle factors

  12. ZS Rational - Infrastructure • Offices based in Tygervalley • Willem le Roux(MD) & 15 employees including 3 CA’s • Distribution expanding – national footprint • Funded via bank loans and shareholder capital • Considering to expand into other property related funding

  13. Quince Scripfin • Access to PSG client base via PSG Konsult • Start up business • Loans against equity portfolios • Loan to value of 50% • Differs from CFD & SSF • Opportunity – PSG had R42bn AUM (Feb 07) • Priority: Funding arrangements & bed down system

  14. Quince Scripfin - Infrastructure • Based in Tygervalley– leveraging existing infrastructure • On back of PSG online systems • Recruiting relationship management skills

  15. Geared for growth

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