27-28 NOVEMBER 2017 NOVOTEL ELLERSLIE, AUCKLAND

Transcription

1 27-28 NOVEMBER 2017 NOVOTEL ELLERSLIE, AUCKLAND Uncover actionable insights, proficiencies and value judgements FEATURING EXPERT INSIGHTS ON: Valuing intangible assets in IP rich companies The impact of M&A activity on the New Zealand business ecosystem V aluation within the New Zealand SME market M itigating cognitive errors in valuation Log up to 15 CPD hours CONFERENZ.CO.NZ/COVAL PLUS A SEPARATELY BOOKABLE FULL-DAY WORKSHOP: Beyond the theory new dynamics, challenges and insights in applying valuation principles

2 The only specialised Company Valuations conference in New Zealand. Connect with your industry peers, log CPD hours and gain actionable insights. Bringing together industry experts, who will share their insights on the latest trends, challenges, and opportunities facing the New Zealand valuations landscape. GAIN INSIGHTS INTO: Connecting economic trends, opportunities and events to financial outcomes Optimising valuation data and predictive analytics to gain actionable insights Exploring new developments and future trends in company valuation PLUS: Invaluable networking opportunities to connect with your peers Log up to 15 CPD hours plus up to 7 CPD hours on the workshop

3 8.30 REGISTRATION AND COFFEE 9.00 OPENING REMARKS FROM THE CHAIR TONY DAVIS, Principal and Director, Lyne Davis Opinion 9.10 NEW DEVELOPMENTS IN THE COMPANY VALUATIONS LANDSCAPE This session examines the evolving valuations landscape, and explores some of the current trends, developments and methodologies within a local and global context. Developments within the International Valuation Standards Council (IVCS) in ensuring consistency, transparency and confidence Governance structures in dealing with tangible assets, business and financial instruments (IVS 2017) Business Valuation Standards Board - Future expectations of the profession within a global context AARON TORESEN, Managing Director, Link International Group 9.40 OVERSEAS INVESTMENT (OI) TRENDS WITHIN NEW ZEALAND AND THEIR IMPACT Examining investment trends with a focus on how OI can affect the desirability and market value of companies. The effect of overseas economic volatility and geopolitical activity on companies in New Zealand The effects around regulation surrounding OI and valuations Tracking overseas investments within tourism and financial services CAMERON TAYLOR, Partner BENJAMIN JACOBS, Special Counsel, MinterEllisonRuddWatts MORNING BREAK ECONOMIC VALUE ADDED (EVA ) AS A VALUATION FRAMEWORK Insights into formulating, implementing and interpreting an EVA valuation. What is EVA and what is its relationship to value? Establishing the cost of capital What adjustments are required to raw financial data? What are the key economic performance and valuation metrics? Data sanity checks Breaking down the valuation into its economic components BEVAN WALLACE, Executive Director, Morgan Wallace APPLYING VALUATION MULTIPLES - KEY INDICATORS IN OBTAINING COMPARABLE ASSET DATA Benchmarking valuation multiples is an effective expression of current market values. This session will focus on: Accessing statistical information that is resilient and industry Considering relevant affected stakeholders when calculating multiples Identifying valuation characteristics utilising enterprise and equity multiples BRENT WHEELER, Principal, Brent Wheeler Group VALUING SMEs THE CHALLENGES AND OPPORTUNITIES WHEN VALUING THE NEW ZEALAND SME MARKET This session aims to explore potential influencing factors behind valuing SMEs, including: Understanding valuation characteristics Motivations behind ownership and inclinations to buy Challenges in collecting the required information CLYTH MACLEOD, Managing Director, Clyth MacLeod Business Sales 1.00 LUNCH BREAK 2.00 CASE STUDY: MANAGING COGNITIVE BIAS OVERVALUED OR UNDERVALUED? This session aims to explore measures of mitigating cognitive errors within a valuation and how to maintain a rational equilibrium within a valuation. Cognitive bias, what it is and why it s important How to avoid cognitive bias to make better decisions How to use cognitive bias to more effectively manage seller and buyer s perceptions and expectations JONATHAN DODD, Research Director, Ipsos 2.30 MINORITY HOLDINGS THE VALUER S PERSPECTIVE Examining approaches in calculating the value in control Accessing various arms length transaction scenarios A review of recent New Zealand court cases affecting valuations BILL APPS, Director, Staples Rodway 3.10 AFTERNOON BREAK CONFERENZ.CO.NZ/COVAL

4 3.40 CALCULATING CAPITALISATION RATES FOR MIDMARKET BUSINESSES - EXPLORING HOW TO ACHIEVE AN ACTIVE MEASURE O verview of various methods / statistics available for use in NZ and their limitations Suggestions for adaptation of methods, and for overcoming limitations on available measures Practical approaches to applying valuation measures to mid-market businesses JOSHNA MISTRY, Value Added Services Team Leader, Gilligan Sheppard 4.20 CASE STUDY: ADDING SUBSTANCE TO NUMBERS; THE IMPORTANCE OF UNDERSTANDING THE CORE OF A BUSINESS AS MUCH AS THE FINANCIALS Provide a numerical value from economic, geographic and business insights Create a comparative level of the value exchanged Understand potential revenue streams and perceived market opportunities Calculate value on compelling and complex narratives JOHN LEONARD, Partner, Gerry Rea Partners 5.00 SUMMARY REMARKS FROM THE CHAIR AND NETWORKING DRINKS 9.00 WELCOME BACK FROM THE CHAIR 9.10 INTANGIBLE ASSETS, IFRS 38 AND CREATING COMPETITIVE ADVANTAGES THROUGH VALUE E xplore intangible assets valuation landscape and methodology Considering privacy and marketability of intangibles, such as customer data Best practice methods and approaches in assessing value 9.40 VALUING THE MOST IMPORTANT ASSETS IN THE COMPANY WHEN THEY AREN T ON THE BALANCE SHEET Valuation of intangible assets and IP rich companies. T his session aims to provide advisors and investors key information on: Why understanding intangible assets is now critical for modern companies Why valuing intangible assets is challenging The impact intangible assets have on company exit values PAUL ADAMS, CEO, Everage IP MORNING BREAK A SSESSING THE IMPACT OF MERGERS AND ACQUISITIONS ACTIVITY ON COMPANY VALUATIONS This session examines recent mergers and acquisition activity within the New Zealand landscape with; A ssessing purchase price in the face of acquisition Valuing post-merger future growth A ssessing goodwill and complex group structures JOHN BRABAZON, Executive Director, Clavell Capital DEFINING AN ACTIVE MARKET IN NEW ZEALAND UNDER FAIR VALUE IFRS 13 Alternatives to calculating fair value in the absence of an active market A scertaining fair value in a market surrounded by inflated prices JAI BASRUR, Director, CGB Consulting LUNCH BREAK 1.20 CASE STUDY: STANDARDS OF VALUE (SOV) Identifying and defining applicable SOV is critical to the outcome of a valuation. This session is an exploration of the intricacies and methods in performing a tangible value exchange to reflect a current business a value. Fair market value, special value, enterprise value, value to the owner Interpreting estimates and probabilistic outcomes Applying pragmatic evaluation frameworks Managing expectations and the reality DON SLOAN, Principal, Sloan Consulting 2.10 RELATIONSHIP PROPERTY VALUATIONS: CASE LAW, LEGISLATIVE UPDATES AND RECENT DEVELOPMENTS Recent updates to acquisition, use and distribution of relationship property, including: Common valuation methods including considerations in evaluating goodwill Application of law and recent case law cases Considering the human factor within dissolution and liquidation 3.00 MAKING THE MOST OF DATA: OPEN SOURCE, PREDICTIVE ANALYTICS, VALUATION OF COMPANY DATA Accurately understanding data derived results Relation between specific performance and data Seeking out meaningful data patterns Performing predictive models to categorise decision outcomes 3.50 CLOSING REMARKS FROM THE CHAIR AND END OF CONFERENCE

5 SEPARATELY BOOKABLE FULL-DAY POST-CONFERENCE WORKSHOP 29 NOVEMBER AM PM Beyond the theory new dynamics, challenges and insights in applying valuation principles This workshop focuses on translating the skills acquired from the conference and extend these learnings in a more in-depth, hands-on and interactive learning environment. The workshop is divided into two parts, with the first focusing on: Integrating and refining critical valuation data Assembling components as part of a valuation and improve insights Probing stakeholders to avoid misinterpretation of data Putting into place tacit knowledge and measures when conducting a preliminary valuation Part 2 explores: Case models and scenario planning - writing a report narrative Key components and structure to successful valuation outcomes Defining a rhythm for a valuation and reducing backlogs to ensure an active delivery Working to scale through tangible examples and data DON SLOAN Over the last 25 years Don has been extensively involved in the sale and valuation of a wide range of businesses and professional practices. He was responsible for the design and concept development of the Bizstats Database and has co-presented two national seminar series on buying, selling and valuing the SME on behalf of NZICA. Don holds a Master of Commerce Degree with First Class Honours from the University of Canterbury and currently offers consultancy services in the area of business succession and valuation. Log up to 7 CPD hours

6 SPONSORSHIP AND EXHIBITION OPPORTUNITIES Gain a competitive edge by taking advantage of sponsorship opportunities to effectively market and position your brand. To talk about opportunities sponsorship@conferenz.co.nz or call (09) W: conferenz.co.nz/coval P: (09) Would you like to bring your team? Competitive group booking options available. Contact the team on for more information. BOOKING OPTIONS SUPER SAVER Register & Pay before 5pm EARLY BIRD Register & Pay before 5pm LAST MINUTE Register & Pay after 5pm 29 SEP OCT OCT 2017 CONFERENCE $2,299 + GST SAVE $300 $2,499 + GST SAVE $100 $2,599 + GST WORKSHOP (FULL DAY) $ GST SAVE $200 $ GST SAVE $100 $ GST Agenda Updates: Conferenz Ltd reserves the right to make any amendments deemed to be in the best interest of the conference. Agenda is correct at time of printing, please check online for any updates. HOW TO PAY - DIRECT CREDIT Direct credit to our bank account (please supply details of remittance) ACCOUNT NAME: Conferenz Ltd ACCOUNT No: HOW TO PAY - CREDIT CARD We accept most major credit cards. Please contact our office directly on (09) if you wish to use this method of payment, or register online for this event at conferenz.co.nz A 2.5% surcharge will be added to credit card payments WHAT HAPPENS IF I HAVE TO CANCEL? YOU HAVE SEVERAL OPTIONS: Send a substitute delegate in your place Confirm your cancellation in writing (letter or ) at least ten working days prior to the event and receive a refund less a $300+GST service charge per registrant. Regrettably, no refunds can be made for cancellations received after this date. GST No CL039 Code: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Copyright 2017 Conferenz Ltd CONFERENZ.CO.NZ/COVAL