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Sims Metal Management Limited – FY10 Results
 
Event: Sims Metal Management Limited (SGM) FY10 EBITDA of A$352M (A$259M pcp) came in higher than our expectations of $343M (consensus A$333M) largely as a result of tighter cost control. While SGM continues to improve profitability, with an apparent forced stock build of ~400kt in 4Q09 and our lead indicators and data suggesting a weak 1H11 period, we downgrade our Buy recommendation to a HOLD with a share price target of A$18.50/sh (prev A$24.00/sh) which is 7x our FY11 EV/EBITDA valuation.
 BBY News
New York Lunch and Dinner with Tennis Legend Ken Rosewall
Monday, August 23, 2010

This year commemorates the 40th anniversary of Ken’s last singles title at the US Open and he has been invited back for a special presentation before the men’s singles final.

Fittingly, the ladies guest for the womans final will be Ken’s mixed doubles partner from 1956, American tennis icon, Margaret duPont (represented by her niece).

If you are interested in attending this lunch and/or dinner in New York, please contact your advisor.

Lunch and Dinner with Tennis Legend Ken Rosewall Invite

 

StarMine Rankings - July 2010
Thursday, August 19, 2010

BBY would like to congratulate Dennis Hulme for his outstanding 5 star performance in the StarMine "Hit Rate" and Coverage Score. Click here to read more....

 

BARR Rankings - July 2010
Thursday, August 19, 2010

BBY would like to congratulate the following analysts for their outstanding Bloomberg Absolute Return Rank (BARR). Click here to read more...

 

2010 BBY Agriculture, Cleantech & Energy Conference
Wednesday, August 18, 2010

In the continuing volatile global environment, Australian companies are focused on new opportunities to execute on their growth programs. With governments under pressure to secure their countries’ energy supplies in an environmentally sustainable manner, companies are exploring strategies including UCG, shale gas and new “greener” technologies in the energy storage space. Rapid population growth and economic development, particularly in Asia, is also exerting significant pressure on governments to secure food supply - how does this impact on the sustainability of Australia’s long term agriculture platform?

At BBY’s upcoming 5th Annual Agriculture, Cleantech and Energy Conference, we will showcase some of the leading companies in these sectors.

BBY invites you to attend the 2010 Agriculture, Cleantech & Energy Conference being held
at BBY offices - Level 17, 60 Margaret Street, Sydney on 14 September 2010.

Click here for the conference schedule.

 

BBY in the July/August 2010 addition of Resource Stocks Magazine
Tuesday, July 27, 2010

With a global audience and a paid subscriber circulation of 15,000 copies per issue, Resource Stocks Magazine have run a two page article on BBY for the months July/ August.  This addition of the magazine focuses on  Diggers and Dealers. Click here for the PDF.

 

ASX Launches VolumeMatch
Wednesday, June 30, 2010

The Australian Securities Exchange (ASX) has launched a new large order execution service, namely VolumeMatch, on Monday 28 June 2010. BBY is pleased to announce that it has been granted approval from the ASX to commence trading on this facility immediately. BBY is one of a limited number of brokers that has been granted immediate access to VolumeMatch. This service is available to our Institutional Clients.

VolumeMatch is an execution mechanism for large orders of $1million plus that reduces market impact and information leakage by allowing users to search for liquidity anonymously.

“The features of VolumeMatch cater to the growing demand from fund managers for a large order execution service that protects against rising market impact costs due to information leakage and falling average trade sizes,” the ASX has announced in its statement of 28 June 2010.

“At the same time, VolumeMatch preserves the integrity of the main ASX market by executing trades at prices from the central limit order book (protecting price discovery), setting size thresholds (limiting liquidity fragmentation) and publishing trades in the normal course of sales (immediate post-trade transparency).”

If you would like to utilize this new product or require further information please contact your BBY account manager.

 

BBY Analyst George Gabriel on The 7:30 Report
Friday, May 21, 2010

BBY Financials Analyst George Gabriel explains the implications of litigation funder IMF's class action against the major banks where IMF is challenging the legality of bank exception fee charges. George explains that the implications of IMF's class action extend beyond the banking sector to other sectors where consumers are charged exception fees, such as the telco and utility sectors. The potential scope of this legal cause of action has material positive implications for IMF's business as it could represent a new growth category of litigation funding opportunities. Click here to read the transcript.

*Correction: The reference on the transcript to George Gabriel as a BBY lawyer is incorrect. Mr Gabriel is a Financial Services Analyst with BBY.

 

StarMine Rankings - March 2010
Monday, May 03, 2010

BBY would like to congratulate Dennis Hulme and George Gabriel for their outstanding performance in StarMine "Hit Rate" and Coverage Scores.

Click here to read more...

 

BARR Rankings - March 2010
Monday, May 03, 2010

BBY would like to congratulate the following analysts for their outstanding Bloomberg Absolute Return Rank (BARR).

Click here for rankings...

 

BBY's George Gabriel interview on Sky News
Wednesday, March 24, 2010

Watch George Gabriel, BBY's Financial Analyst, being interviewed by Sky News. Topics discussed include pricing strategies of the major banks, rising funding costs, market shares and managing bank sector political risks. Click here to watch.

 

Arafura Resources Capital Raising
Wednesday, February 17, 2010

The Directors of Arafura Resources Limited (ASX: ARU) ("Arafura" or "the Company") are pleased to announce a capital raising through a private Placement of 28.2 million shares of the Company at an issue price of A$0.62 per share, to accredited institutional investors and sophisticated investors for gross proceeds of A$17.5 million. The Placement was managed by BBY Limited and Bell Potter Securities Limited. Click here to read more.

 

Mundo Minerals Placement
Monday, February 08, 2010

Mundo Minerals Limited (ASX code: MUN) is pleased to announce that it has today completed a placement of A$3.16 million through the issue of 21.04 million shares at 15 cents per share. BBY Limited was Lead Manager to the Placement. Patersons Securities and Taylor Collison were Co-Managers to the Placement. Click here to read more.

 

Jaguar Funds Generate Big Returns For 2009!
Tuesday, February 02, 2010

BBY would like to congratulate Jaguar funds for its impressive 82.39% return vs the ASX 200  benchmark of 30.8% for the 2009 calendar year.

The year started with a significant level of risk aversion but the investment team anticipated this would abate during the year, particularly after the ASX 200 declined more that 50% from its peak in November 2007. The investment team is pleased with its results.

Heading into 2010, the team believes that the big returns are over and stock specific themes will dominate rather than the large macro trades. Despite the overall market valuations appearing attractive, the team has remained cautious and have kept the funds gross exposure at conservative levels.

 

Outlook for the S&P/ASX 200
Monday, February 01, 2010

This year, the Australian market is unlikely to log the same stellar gains it did in 2009, say Glenn Rosewall, CEO & MD at BBY and David Shearwood, CEO of Atom Funds Management. They assess the risks the market will face in 2010, with CNBC's Oriel Morrison. Click here for the video on CNBC.

 

East Coles Investment Banking Results 2009 (SMH/AGE) - Glenn Rosewall
Tuesday, December 22, 2009
BBY's Corporate Finance team scored extremely well again, placing #11 Best Overall Investment Bank, #11 in ECM and #12 in M&A.   In the context of a very challenging economic environment and large-scale capital raisings dominated by the bulge bracket banks, this result is even more outstanding.
 
David Smith, Head Equity Capital Markets said, "I am delighted in the team's performance this year, particularly with three members of the team achieving Top 20 rankings in the survey.  We thank our clients for their support and we look forward to assisting them in 2010 and beyond".
 
Most pleasing for me were the many comments that were made by BBY's corporate clients about the team in the survey.  These included:
  • "Do whatever it takes to get the deal done in the most professional way possible. You can trust them with your life"
  • "Integrity - knowledge - contacts - experience"
  • "The best and most pragmatic by a long way"
  • "They have cutting edge ability in capital raising techniques that are changing in todays market"
  • "Current relationship & knowledge of our company"

These are the attributes which BBY demonstrates across the whole business and we congratulate the Corporate Finance team on this year's achievement.  On behalf of BBY I wish you all a merry festive season. 

Best Overall Investment Bank
 
Rank Bank
   
1 UBS
2 Macquarie
3 Goldman Sachs JBWere
4 JP Morgan
5 RBS
6 Citi
7 Merrill Lynch
8 Deutsche
9 Morgan Stanley
10 Palladio Partners
11 BBY
12 Credit Suisse
13 Caliburn
14 Gresham
15 Lazard Carnegie Wylie
16 Investec
17 Azure Capital
18 ANZ
19 RBS Morgans
20 Wilson
 

BBY's Top Performers
Wednesday, December 16, 2009

In this summer issue of the BBY Quarterly Client Update, Glenn Rosewall, CEO and MD said, "BBY has developed a reputation for identifying outstanding investment ideas. Two of our key research picks were top performers in 2008 and 2009. Linc Energy (LNC) was the number one performer in the ASX/S&P200 and this year Extract Resources (EXT) was the second best stock on the ASX."

BBY would like to congratulate Linc Energy and Extract Resources for these milestone achievements.

 

More M&A Activity in 2010 Expected - Glenn Rosewall on CNBC
Monday, November 16, 2009

Expect to see more M&A activity in 2010, says Glenn Rosewall, managing director and CEO of BBY, speaking to CNBC's Karen Tso. Click here to view video...

 

Morning Star Gold NL
Tuesday, November 10, 2009

Morning Star Gold NL (ASX: MCO) is delighted to announce that the company has entered into an agreement with BBY Limited to underwrite the conversion of its MCOOB options.  Nick Garling, MD of MCO commented, “The execution of our underwriting agreement with BBY Limited, a growing and well respected player in the equity capital markets, further strengthens our balance sheet and our move towards gold production this year”. Click here to read more..

 

Bullish on Aussie Resources & Banks - Glenn Rosewall on CNBC
Monday, November 09, 2009

Major resource companies and banks are sector picks for Glenn Rosewall, CEO and managing director of BBY, speaking to Mike Elliott, global mining and metals leader at Ernst and Young and CNBC's Amanda Drury. Click here to view the video...

 

Glenn Rosewall on CNBC - Outlook for Aussie Financials
Tuesday, October 27, 2009

With the S&P/ASX 200 rallying around 80% from the March lows, Glenn Rosewall, CEO of BBY & Campbell Dawson, portfolio manager at Elestree Investment Management discuss how to play banking stocks going forward, with CNBC's Oriel Morrison. click here to view video...

 

Rey Resources Limited
Friday, October 23, 2009

Rey Resources Limited (Rey) announced that it has entered into definitive arrangements to undertake a $15 million capital raising, subject to shareholder approval at the Rey annual general meeting on 27 November 2009 (the Share Issue). BBY Limited (BBY) is the Lead Manager to the $10 million institutional placement and Underwriter to the $5 million share purchase plan. Click here to read more...

 

CMA Corporation Limited
Wednesday, October 14, 2009

CMA Corporation Limited (ASX: CMV) is pleased to announce that it has raised $25 million through the recently completed Share Purchase Plan (SPP) and a placement to institutional and professional investors (Placement). Due to the significant demand from local and offshore investors, BBY Limited, as Lead Manager and Underwriter, has increased its underwriting commitment by A$5 million to A$20 million, meaning a further A$12.0 million was raised from institutional and domestic investors. In addition, CMA has made a A$5 million Placement of shares to institutional and professional investors. BBY Limited was also Lead Manager to the placement. Click here to read more...

 

BBY Director Inducted as Legend into Hall of Fame
Tuesday, October 13, 2009

Ken Rosewall, winner of 18 grand slam tennis titles has been inducted into the the Sport Australia Hall of Fame as a Legend. The classification is bestowed on those members who have distinguished themselves at the very highest level in sport and in doing so have offered inspiriation and example to all Australians. This is a great achievement as there is less than 30 legends with the very first title given to Sir Donald Bradman.

 

Silver Lake Resources
Friday, October 02, 2009

Silver Lake Resources Limited (“Silver Lake” “the Company”) is pleased to advise that the Company has resolved to raise up to $18.3 million through the placement of up to 23.2 million ordinary shares at an issue price of $0.79 per new share.  Hartleys Limited acted as Sole Lead Manager and Bookrunner to the placement and BBY Limited acted as Co‐Manager. Click here to read more...

 

FSE Announces A$25 Million Capital Raising to Fung Growth Plans
Wednesday, September 30, 2009

Firestone Energy Limited (ASX:FSE / JSE:FSE) (“Firestone” or “the Company”) is pleased to announce that it has executed a term sheet for the underwriting of a $25m capital raising involving the
issue of convertible notes with a conversion price of A$0.04 cents per share.
It is expected that legally binding documentation in respect of the transaction will be settled within the next few days, when further details will be advised on the execution of this documentation. BBY
Limited is the Underwriter to the entire Issue. Click here to read more...

 

AFR video podcast on NBN with Primus Telecom CEO and Mark McDonnell
Wednesday, September 30, 2009

Telstra's proposed split casts new light on the NBN. But are we going back to the future with a government-owned wholesale broadband monopoly? Joining The Scoop host Mark Jones for this video podcast is Primus Telecom CEO and chairman of Terria Access Seekers Association Ravi Bhatia, and BBY senior analyst Mark McDonnell. Click here to watch the video podcast...

 

Jaguarfunds 3rd best performance YTD Hedgefund for August
Wednesday, September 23, 2009

Jaguarfunds has delivered a strong result for its shareholders, returning 68.21% YTD. The Fund was third place in the EurekaHedge Hedgefund Database for the month of August for Long Short Hedgefunds in Australasia.

 

BBY partners with OneVentures’ new government-backed Innovation Fund
Wednesday, September 23, 2009

One Ventures is moving to close a new Technology Fund after being awarded the right to make an offer for a $20 million Federal Government AusIndustry Innovation Investment Fund (IIF) Licence.  The Fund is one of only four funds nation-wide to be conditionally registered as tax free on income and capital account for investors. Click here for details.

 

FSE: (ASX/Media Release – 11 September)
Friday, September 11, 2009
Firestone Energy Limited (ASX:FSE / JSE:FSE) is pleased to announce that it has executed a term sheet for the underwriting of a $25m capital raising involving the issue of convertible notes with a conversion price of A$0.04 cents per share.
 
BBY Limited is the Underwriter to the entire Issue. Click here to read more.
 

CYU $4.6m Underwritten Rights Issue
Wednesday, September 02, 2009

CHINA YUNNAN COPPER AUSTRALIA LIMITED (CYU) is making a non-renounceable rights issue of 2 New Shares for every 5 existing Shares held in China Yunnan Copper Australia Ltd at $0.15 per Share, to raise up to approximately $4.66 million.

BBY Limited is Lead Manager and Underwriter to the issue. Funds will be used for further drilling, execution of corporate opportunities and working capital.

 

Phosphagenics Share Purchase Plan
Monday, August 31, 2009

The Board of Directors of Phosphagenics Limited (ASX code: “POH”/ OTCQX code: “PPGNY”) is pleased to announce that it has secured agreement form the Underwriter to the current Share Purchase Plan (“SPP”) for the Underwriter to increase its Underwriting Commitment from A$5m to A$7m.

BBY Limited is the Underwriter to the SPP.

All other aspects of the SPP remain unchanged, including its cap of $9m.

 

Linc Energy announces successful $77.4M capital raising
Monday, August 31, 2009

Linc Energy Limited (ASX:LNC) has successfully completed an institutional placement of 41,000,000 new ordinary shares at $1.40 per share to raise $57.4 million in capital. The placement was heavily oversubscribed, receiving strong support from a range of existing and significant new institutional investors. The placement and the underwriting of the SPP were managed by BBY Limited.

Settlement is scheduled to take place on 7th August 2009 and the placement shares are expected to be allotted and quoted on the Australian Securities Exchange (ASX) on or about 10 August 2009.

 

CMA Corporation (CMV) has announced share purchase plan (SPP) at 10c.
Monday, August 31, 2009

The SPP will allow eligible shareholders to subscribe for up to $15,000 worth of CMA ordinary shares (subject to obtaining Australian Securities Exchange relief) .

The SPP is underwritten to $15 million by BBY Limited. The major shareholders including Managing Director, Doug Rowe have indicated their support for the SPP by committing to sub-underwriting the issue.

The Record Date for participation in the SPP is 5pm AEST on 4 September 2009. It is anticipated offer documents will be despatched to eligible shareholders on 10 September 2009.

The funds raised through the SPP will be used for working capital and to support the continued growth of the Company’s operations.

CMA Managing Director Doug Rowe said the SPP would provide CMA with greater financial flexibility to pursue future growth opportunities.

"We’re pleased to be able to allow our shareholders to be involved and participate in the future growth of the Company through the SPP," said Mr Rowe.

 

Extract Resources joins the $2b club today closing at $8.99
Monday, August 24, 2009

Last month BBY announced that Karoon Gas has joined the $2b cap club and just one month later, Extract resources also reached this milestone. Extract Resources is the fith company BBY has banked since being a small cap to achieve this.

 

AFR - We've weathered crisis and are well placed
Monday, August 17, 2009

BBY chief executive Glenn Rosewell says the corporate advisory house is in a strong position to take advantage of post-credit crisis opportunities after posting solid financial results in the past two years. Click here to read the article...

 

RESOURCESTOCKS - BBY Ready for Recovery
Monday, August 17, 2009

BBY CEO Glenn Rosewall speaks to RESOURCESTOCKS magazine on the GFC, BBY Performance and recovery. Read the full article here...

 

HAW: (ASX/Media Release - 14 August)
Friday, August 14, 2009

Hawthorn Resources Limited (ASX: HAW) (the Company) is pleased to announce the successful completion of an institutional placement of 57,142,857 new ordinary shares at $0.007 per share to a sophisticated investor (Placement). The Placement has raised $400,000 in capital and was managed by BBY Limited.

 

In addition, the Company is pleased to offer eligible shareholders (including beneficiaries of eligible custodians) the opportunity to participate in a partly underwritten Share Purchase Plan (SPP). The SPP will be capped at a maximum amount of 30% of the Company's issued capital.

 

BBY Limited will Lead Manage the SPP and underwrite the take-up of 116.5m shares.

 

Click here to read more.

 

BBY adds 4th (and nearly 5th) client to $2b Club
Monday, July 27, 2009

Late last week, Karoon Gas topped the $2 billion market capitalisation level.
 
This is the fourth company that BBY has banked since being a small cap (KAR was ~$75m market cap in June 2005).  The other BBY corporate clients to have achieved this milestone include Fortescue Metals, Murchison Metals and Linc Energy.
 
Tapping on the $2b door is Extract Resources at ~$1.8b at the time of writing.
 
The success of these BBY clients demonstrates the strength of the BBY platform when our various business divisions are aligned, so congratulations to the Corporate, Sales and Research teams.

 

High Profile Kerry Duce joins BBY as an Equities Strategist
Friday, May 29, 2009
Kerry has over 20 years experience in both the public and private sector as a policy analyst. Prior to joining BBY, since 1997 Kerry has held positions as a top 3 rated chief economist and strategist at a variety of investment banks in including Credit Suisse, HSBC and Merrill Lynch.  
 
Whilst at the Commonwealth Treasury Kerry worked on a variety of policy initiatives including reform of transport and telecommunications, preparing fiscal aggregates, and forecasting key economic and financial variables.
 
Kerry has a B.Comm and M.Comm from the University of NSW.
 

BBY hosts Highly Successful Resource Conference 2009
Friday, May 29, 2009
BBY hosts the Resource Conference on 28 May. 12 companies presented. The theme for this conference is "Supporting a return to growth". With the OECD forecasting a 4.3% decline in economic growth for the developed world's economies in 2009, despite significant stimulus packages, the outlook for commodities is a world away from the optimism of 2008. We have key Australian iron ore, coal, uranium and gold companies presenting their outlook and expectations for 2009.
 

BBY hosts the only Australian MENESA Conference 2009 in Dubai
Friday, March 13, 2009

BBY hosted the MENESA conference in Dubai on 12 March. There were seven companies who presented, in addition to presentations from BBY on subjects including carbon trading, undervalued assets and Australian equity valuations. Click here to learn more.

 

BBY takes 9th place in BRW 2008 East Coles Survey
Thursday, February 05, 2009

BBY has ranked overall 9th in the BRW East Coles Survey. Read more.

 

BBY Takes 3rd in PlacementTracker 2008 Australian Private Placement Market League Tables
Monday, January 19, 2009

Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that Euroz Securities, Bell Potter Securities, and BBY Limited ranked as the three most active investment banks for private placements by public issuers in Australia during 2008.

 

BBY Analysts Recognised in Annual Starmine Analysts Awards
Friday, November 28, 2008

Each year Starmine recognizes analysts who have turned in exemplary performances either as stock pickers or as earnings estimators during the prior year. This year's awards for Australia & New Zealand are based on the October 1, 2007 - September 30, 2008 time period. This year 4 of BBY's analysts were recognised. 

 *    Scott  Ashton -- #3 Industry Stock Picker in the Energy Industry

*    Mark McDonnell,  and James Rutledge,  -- #3 Industry Stock Picker in the Telecommunication Services & Information Technology Industry

*   Jeremy Tobias -- #5 Overall Stock Picker

Click here for more details.

 

Jaguarfunds 2nd best performing hedge fund for July
Sunday, October 05, 2008

Jaguarfunds, the Long/Short fund acquired by BBY earlier this year has delivered a strong result for shareholders. The Fund was the second top performing hedge fund in Australasia in the month of July. Click here for details.

 

BBY extends global reach to Dubai
Tuesday, September 23, 2008
BBY has expanded its potential to achieve results for clients by opening an office in Dubai. Read more....
 

BBY ranked in Top 10 'Best Equities Research' & Top 20 'Best Overall Investment Bank'
Thursday, July 17, 2008

The 2007 BRW-East Coles survey shows that BBY has achieved rankings usually reserved for the large international banks. BBY ranked 10th in the Top 20 Best Equities Research league table and 17th in the Top 20 Best Overall Investment Bank category. Click here for details.

 

Transcript -- TLS: T3 - Citigroup vs BBY on today's edition of AM (ABC radio)
Wednesday, April 16, 2008

Transcript -- TLS: T3 - Citigroup vs BBY on today's edition of AM (ABC radio) AM - Volatile stockmarket rocks confidence in T3 shares. Click here for details.

 

BBY ranked number one in Bloomberg 2008 Q1 underwriting league table
Tuesday, April 01, 2008

BBY ranked ahead of larger global competitors. Click here for details.

 

Jaguar Funds’ positive returns defy market trends
Wednesday, March 26, 2008

Jaguar Funds’ Australian Leaders Long Short Fund has followed up its strong 5.04 per cent positive January result with another positive return for the month of February. Click here for details.

 

Jaguarfunds defies market trends and returns a positive month of January
Tuesday, February 19, 2008

Jaguarfunds’ Australian Leaders Long Short Fund has delivered positive results for shareholders in January, despite difficult market conditions. Click here for details.

 

BBY showcases Australian Resources companies at Dubai conference
Wednesday, February 13, 2008

A full program of listed Australian resource companies from the booming iron ore, gold and oil/gas sectors presented at BBY’s inaugural Dubai conference. Click here for details.

 

BBY sees opportunities in bear market
Saturday, January 19, 2008

Looking for short-term profits from undervalued shares should be front-of-mind for investors says Glenn Rosewall, Managing Director & CEO of BBY Limited. Click here for details.

 

BBY taking Australian resources global
Tuesday, January 01, 2008

Australian stockbroking and corporate advisory firm BBY has earned a reputation for leading the pack in supporting emerging resources companies that are off the radar of the mainstream investment community. Click here for details.

 

BBY ranked in Top 20 'Best Overall Investment Bank'
Thursday, July 05, 2007

The 2007 BRW-East Coles survey, released in this week's edition of BRW magazine, ranked BBY as 17th in its Top 20 league table, Best Overall Investment Bank - a table traditionally dominated by the bulge bracket investment banks. Click here for details.

 

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