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 2010 RISING STARS MICROCAP CONFERENCE
Thursday 10 of June 2010 / Level 4– Room 1/ SYDNEY HILTON (488 George St, NSW 2000)

AGENDA

MORNING SESSION

9:00-9:50 h. SILVER CHEF (ASX SIV) Allan English (CEO)

Charles Gregory (COO)

9:50-10:30 h. KONEKT LIMITED (ASX KKT) Serhat Oguz (CEO)

10:30-11:00 h MORNING COFFEE BREAK

11:00-11:40 h CLOVER CORPORATION (ASX CLV) Dr. Ian Brown (CEO)

11:40-12:20 h BIGAIR LIMITED (ASX BGL) Jason Ashton (Co-CEO)

12:20-13:30 h LUNCH BUFFET

AFTERNOON SESSION

13:30-14:10 h. CASH CONVERTERS INTERNATIONAL Ralph Groom (CFO)

(ASX CCV)

14:10-14:50 h. MANACCOM CORPORATION (ASX MNL) Mike Veverka (CEO)

14:50-15:20 h AFTERNOON COFEE BREAK

15:20-16:00 h PATTIES FOODS LTD (ASX PFL) Greg Bourke (CEO)

16:00-16:40 h XRF SCIENTIFIC LIMITED (ASX XRF) Terry Sweet (CEO)

.

www.microequities.com.au
 2010 RISING STARS MICROCAP CONFERENCE

PROFILES

EVENT ORGANISER

Microequities is a specialised Microcap asset manager. Established in 2005 as an independent

investment research house devoted to Microcaps. Microequities expanded into funds
management in early 2009 by launching our flagship Deep Value Microcap Fund.

Why us? Microequities' investment managers and analysts operate uniquely within the Microcap
asset class. This asset class offers investors access to Australian companies with an attractive
growth profile. However, it also necessitates a systematic and process driven research approach
to investing. We are uniquely positioned within the Microcap asset class and posses research
capabilities, deep knowledge and experience within the Microcap space. Our value-growth
approach, coupled with a long term investment strategy, provides us with an investment ethos
that is particularly well suited to Microcap investing.

The Deep Value Microcap Fund: Launched in March 2009, is a high conviction, value growth
Fund that seeks to identify and invest in growing, profitable undervalued companies. The Fund
does not have a broad based approach to investment. It maintains concentrated holdings in what
we consider the most compelling companies within the Microcap asset class with the most
attractive risk/reward metrics. The fund has returned 83% since inception (net of fees) compared
to 43.12% for the All Ords Index.

Carlos Gil (CIO) / cgil@microequities.com.au / +61 2 9231 6169

EVENT SPONSOR

Fortbridge Consulting is a media and investor relations firm representing publicly listed
companies. Fortbridge works with their clients to build corporate reputation and promote value.

Fortbridge investor communications programs target a range of stakeholders, including

shareholders, institutional investors and funds, as well as the financial media, in the markets in
which their clients operate.

With access to up-to-date research and investor contact information for financial centers around
the world, Fortbridge is able to research and maintain meaningful sector specific investor lists for
their clients. Using this information, Fortbridge target relevant institutional investors and funds to
engage their support for their clients’ IPOs, institutional placements, capital raisings, SPPs or
on-market trades.

Fortbridge consultants in Sydney, Perth, London Toronto and Santiago have a track-record in
working with clients to build shareholders value and to grow business; to communicate the value
of new developments and to manage significant issues that impact reputation.

Bill Kemmery (Managing Director) / bill.kemmery@fortbridge.com / +61 2 9331 0655

2010 Rising Stars
Microcap Conference

SILVER CHEF
ASX‐SIV
P
Presentedd by
b
Allan English (MD) and Charles Gregory (CEO July 2010) 

SYDNEY HILTON, 10 of June 2010

Overview 
‐ Our Success Storyy
‐ Our Business 
‐ Our Offer
‐ About Us
Investor & Financial Results
Inside Our Business
Inside Our Business
Outlook
Summary
Overview – Our Success Story
Overview – Our Success Story

ƒ Silver Chef ‐ a unique approach to equipment      
finance
ƒ 24 years of successful operations
ƒ More than 7500 customers nationally 
More than 7500 customers nationally

Overview – Our Business
Overview  Our Business

ƒ Founded 24 years ago by Managing Director Allan 
English
ƒ Conveyor ovens for home delivery pizza 
ƒ Sale of equipment distribution business to focus on 
S l f i t di t ib ti b i t f
rental business
ƒ Developed  Rent‐Try‐Buy®
Overview – Our Business
Overview  Our Business

ƒ Based in Brisbane, national operations
ƒ 70 employees
ƒ Customers throughout Australia
ƒ $100 million assets under management
ƒ Market capitalisation $50 million 

Our Offer – The Rent‐Try‐Buy® Solution
ƒ 12 month rental agreement
ƒ It keeps the customers options open…
ƒ Can purchase the equipment at any time during the 
first 12 months and receive a 75% rental rebate
ƒ Return the equipment at end of term if not required
ƒ Continue to rent –
i and the purchase price keeps 
d h h i k
getting lower
ƒ Weekly payments – 13 week security bond
Successful expansion
f p

ƒ Initially one brand  – Silver Chef
ƒ Now two brands – Silver Chef & GoGetta
ƒ Silver Chef – leader in hospitality equipment 
fundingg
ƒ GoGetta – broader range of commercial equipment 
ƒ Australia‐wide dealer and vendor network
ƒ 2 brands = diversity and business growth

About Us – Industry recognition
About Us  Industry recognition

ƒ Restaurant and Catering Awards Queensland –
Best Equipment Supplies and Commercial Design 
Supplier 
ƒ Finalist in the National Marketing Institute awards
ƒ Finalist in the “Great Place to Work” institute 
Fi li t i th “G t Pl t W k” i tit t
awards
ƒ 90% staff voted that Silver Chef is a great place to 
work  
Allan English

ƒ Founder and Managing Director 
for 24 years
ƒ Moving to non‐executive Chairman 
role July 1, 2010
ƒ Maintaining shareholding

Charles Gregory
ƒ Chief Operating Officer  since 
Chief Operating Officer since
July 2008
ƒ 2‐year succession plan
ƒ Promotion to CEO role effective
July 1, 2010
ƒ Extensive experience in management, leadership 
E i i i l d hi
and driving company growth
ƒ 12 years with leading ASX‐listed travel group Flight 
Centre
 Investor & Financial
RESULTS

Investor – Results
ƒ $ 1 and 13.4 million shares  MARKET CAPITALISATION 
$ 1 and 13.4 million shares MARKET CAPITALISATION
2005 =  $ 13.4 million
ƒ $ 2.20 and 21.2 million shares MARKET CAPITALISATION
2010 =  $ 46.8 million
ƒ Over 20% CAGR in EPS since 2005
– 28c 60%
28c 60%‐70%
70% DPOR
DPOR
ƒ 57c paid in dividends since 2005
– 8% Div Yield (fully franked)
ƒ ROE 27.8%
Investor – Mid Year Results

ƒ Mid Year EPS on expanded capital base up from
4.9 cents to 17.8 cents 
ƒ Interim fully franked dividend doubled to
8 cents a share
8 cents a share
ƒ Updated EPS Guidance to 28c
ƒ Current PE 7.8

Financials – Mid Year Results

ƒ Rental income up 45% to $23.3m 
ƒ Net Profit Before Tax $4.2m up from $1.1m 
ƒ Operating cash flow up from $9.7m to $16.7m 
EBITDA ($ 000)

25,000

20,000

15,000 2nd ha l f

10,000 Is t Ha l f

5,000

‐
2006 2007 2008 2009 2010

H1 FY2010 ‐ up 52.8% to $16.0m

NPAT  ($ 000)

4,000
3,500
3,000
2,500
2nd ha l f
2,000
Is t Ha l f
1,500
1,000
,
500
‐
2006 2007 2008 2009 2010

H1 ‐ up 288% on pcp to $3.2m
Earnings Per Share (cps)

30.0

25.0

20.0
Yea r End
15.0
Ha l f yea r
10.0

50
5.0

‐
2006 2007 2008 2009 F 2010

guidance ‐ 28 cps for FY 2010

Financials H1 2010…net operating cash flow ($ 000)

25,000

20,000

15,000 2nd ha l f

10,000 I t Ha
Is t H lf

5,000

‐
2006 2007 2008 2009 2010

H1 2010 ‐ up 73% on pcp to $16.7m
 Inside Our Business

Funding, Our People, Our Customers, 
Risk Management, 
& Strategic Planning

Funding 
ƒ Current facilities with BankWest until July 2011
ƒ Bank discussions underway
ƒ Debentures, and further capital raising being 
considered
ƒ Successful capital raising program during H1 FY2010
‐ $2.5 million share placement
$2 5 million share placement
‐ $4 million 1‐for‐4 rights issue (50% oversubscribed)
ƒ $40m per year is generated from the business to 
fund new rental assets
Business Drivers – Our People
ƒ Core Values: teamwork, respect, attitude, flexibility, 
Core Values: teamwork respect attitude flexibility
integrity and communication 
ƒ Investing in our people – Silver Chef Training 
Academy
ƒ Alignment to company goals and Incentive Based 
Pay
ƒ Annual Team Leader conference – Vision, BHAG, 
Personal & Professional Development
ƒ High‐performance team focused on execution of 
our strategic plan

Our People ‐ Experienced Board
ƒ Same board since 2005 ASX float
Same board since 2005 ASX float
ƒ From July 1, 2010 Allan English as Non‐Executive 
Chairman
ƒ Role reflects continuing high‐level involvement
ƒ Current Chairman Andrew Kemp ‐ a non‐executive 
director and Finance Committee Chairman from July
director and Finance Committee Chairman from July 
1, 2010
ƒ Bede King – non‐executive director 
ƒ Don Mackenzie – alternate director, Audit and Risk 
Management Committee Chairman
Business Drivers – Our People
ƒ The Great Place to Work Survey:
The Great Place to Work Survey:
“ Taking everything into account I would say this is a 
great place to work”                    90% Yes
“ Management is competent at running the 
business” 100% Yes
“Management has a clear view of where the 
organisation is going and how to get there”
94% Yes
“ I’m proud to tell others I work here” 90% Yes

Our Customers …
Customer network

ƒ Harry – our profile client!
ƒ Engaging with our customers
ƒ New business & business‐retention strategies
ƒ g g
Significant marketing initiative to soon be 
announced

Risk Management – Credit & Asset

ƒ Weekly customer payments
ƒ Security bond lodged by customers
ƒ 7,560 clients with the largest being <1% of rental 
income
ƒ Customer base growing – model works in both 
“good” and “bad” times
Risk Management – Credit & Asset cont…..

ƒ We finance the cornerstone assets in the business
ƒ 95% of assets are earning income

silverchef Remarketing Process
Client returns Silver Chef
Service Facility Assett Cl
A Cleaned
d
equipment & Serviced

Target FY 2010
80% sold within
60 days of receipt

Dealer Web Online

Rental Sales Auction
Sales
GoGetta Remarketing Process
Client Returns Equipment to Vendor

… within 90 Days

New Client Purchase for Stock

Sale or … New Rental Contract

with GoGetta

Strategic Planning & Execution
Outlook  
ƒ FY 2010 EPS guidance upgraded to 
id d d
28 cps from 26 cps
ƒ Compound average EPS growth rate of 23.1% since 
2005 ASX listing
ƒ 1H FY2010 Net Assets at $23.1 million
ƒ Live rental contracts up – from 6,500 to 7,560 in 1H 
ƒ Strong contract renewals 
ƒ Recurring income streams maintained

Summary 
• Growth business with solid foundation
• Well managed business ‐ particularly the 
risk aspects
• Good future prospects
• Disclaimer
Silver Chef Limited has not considered the financial position or needs of the recipient in 
providing this presentation Persons needing advice should consult their stockbroker
providing this presentation. Persons needing advice should consult their stockbroker, 
bank manager, solicitor, attorney, accountant or other independent financial or legal 
advisors.  This presentation includes certain “forward‐looking statements” which are 
not historical facts but rather are based on Silver Chef’s current expectations, estimates 
and projections about the industry in which Silver Chef operates, and beliefs and 
assumptions regarding Silver Chef’s future performance.  Words such as “anticipates”, 
“expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions 
are intended to identify forward‐looking statements. These statements are not 
guarantees of future performance and are subject to known and unknown risks, 
uncertainties and other factors, some of which are beyond the control of Silver Chef, 
are difficult to predict and could cause actual results to differ materially from those 
expressed or forecasted in the forward looking statements Silver Chef cautions
expressed or forecasted in the forward‐looking statements. Silver Chef cautions 
shareholders and prospective shareholders not to place undue reliance on these 
forward‐looking statements, which reflect the view of Silver Chef only as of the date of 
this presentation.  The forward‐looking statements made in this presentation relate 
only to events as of the date on which the statements are made. Silver Chef will not 
undertake any obligation to release publicly any revisions or updates to these forward‐
looking statements to reflect events, circumstances or unanticipated events occurring 
after the date of this presentation except as required by law or by any appropriate 
regulatory authority.

Conclusion

Thank you …

Any questions?