Radix Training Academy (Pty) Ltd info@radixacademy.

com +27 (0) 84 819 8043 Valuing, structuring and financing Private Equity and Venture Capital Masterclass.

Understand and apply the IPEVC valuation guidelines Build and customize the models to your own needs Evaluate different sources of financing Structure the transactions optimally

Introduction: According to the KPMG and SAVCA Private Equity Survey, South Africa achieved 11th place in the global rankings of private equity investment activity, its highest ever position. In addition, it is in the global Top 20 in terms of fund raising activity. Consistently measuring the performance of private equity funds is always difficult as private equity investments valuations are, by their very nature, highly subjective. The overriding principle of the International Private Equity and Venture Capital Valuation Guidelines is to show a fair valuation of investments to the investor. These guidelines were released during 2005 and adopted by the majority of global private equity associations, including SAVCA and EVCA. Valuing, structuring and financing private equity and venture capital transactions including start-ups, buyouts, turn-arounds, and growth-equity transactions are the three main pillars for the success of these investments. This 3-day hands-on intensive course aims, not only at highlighting these guidelines, but also at presenting the applicability of these principles in real life. The course will allow participants to fully comprehend the dynamics and the challenges in meeting these guidelines through the use of Excel models and tools that can be applied at their workplace immediately upon completion of the course This 3-day intensive workshop addresses fundamental questions like: What are the International Private Equity and Venture Capital Guidelines? How to value private companies, start-ups and troubled companies. How to apply the International Guidelines practically using Excel models and tools? How best to structure and finance different types of transactions. What are the various sources of finance?

What financing combination provides the lowest cost of capital?

Who should attend this masterclass? Private equity investors Venture Capitalists Executive managers Hedge fund managers Investment bankers Bank lending officers Business appraisers Financial research analysts Corporate finance lawyers Financial management consultants Corporate finance restructuring specialists Government regulatory and policy makers Business strategists

Day one: International Private Equity and Venture Capital Valuation Guidelines and modeling. *Determining Fair Value Principles of valuation Valuation metrologies: Selecting the appropriate methodology Price of recent investments Earnings multiple Net assets Discounted cash flows or earnings (of underlying business) Discounted cash flows (from the investment) Industry valuations benchmarks Available market prices *Application guidelines: Selecting the appropriate methodology Specific considerations: Internal funding rounds Bridge financing Mezzanine loans Rolled up loan interest

Indicative offers Events to consider for their impact on value Impacts from structuring Applying valuation models Case study Day two: Structuring different private equity / venture capital transactions: Start-ups Growth equity Troubled company turn-around Leveraged or Management buyout Exit strategies Formation of Private equity, Venture Capital or buyout funds Case study Day three: Financing decisions: Equity financing Evaluating and negotiating bank loans Evaluating and negotiating mezzanine debt, subordinated debentures, seller paper or second lien loans Evaluating and negotiating relative rights of various financing parties Evaluating convertible vs. warrants vs. common Preferred stock redemption and dividend terms Private equity ownership of target warrants or convertibles Private equity ownership of target preferred stock Board control and related issues Structuring executive deferred compensation packages Case study About the presenter: Hamed Behairy, CFA An internationally renowned financial consultant and trainer over the past 14 years.

With global experience in the fields of financial analysis, modelling, corporate governance, consultation and training, Hamed has been consistently acclaimed as one of the top financial consultants in many countries around the world. The presenter is widely renowned as a seasoned modelling expert. Hamed is the founder and CEO of Radix Training Academy (Pty) Ltd and cofounder and CEO of Radix Corporate Governance (Pty) Ltd based in Cape Town, South Africa. His clients include multinational corporates, pension funds and asset management companies, among others in South Africa, Singapore, Hong Kong, Malaysia, the UAE and London. Hamed has extensive training experience. His workshops combine professional knowledge along with excellent presentation skills. Participants' comments of Hamed's workshops indicate that they leave with deep understanding of the material covered and conclusive ability to apply these concepts at their workplace upon completion of his courses. He has substantial experience in training corporate executives on strategic matters including valuation modelling, corporate restructuring, M&A modelling, applied corporate finance modelling, financial analysis modelling, attribution analysis modelling and other modelling courses. Hamed worked as a financial analyst and modeller in an asset management company. While lecturing accounting and financial analysis at the University of Alexandria, Hamed was awarded the best teaching talented lecturer. Hamed is a Chartered Financial Analyst (CFA). He qualified with BCom (honours) in accounting - cum laude with first class honour, and BCom (honours) in Financial Analysis and Portfolio Management - cum laude, with first class honour. Hamed's hands-on training approach is mixed with energy, humour and continuous interaction with delegates. The systematic build up of his workshops ensures a bottom-up explanation, leading delegates quickly from the basics through the more Testimonials: Beyond expectations with thanks. Clear in explaining complex concepts. Liked the practical examples of the concepts introduced Cecilia Pavanello, Relationship manager, Intesa Sanpaolo Bank, Italy This is the best workshop I have attended. I have learnt a lot about the financial world. I have definitely obtained a wealth of knowledge. The most effective feature was the simplicity with which the course was executed as well as the logic used to explain complex terms Ritasha Jathva, Head of Information Privacy, ABSA The presenter understands the market. There is a lot of depth and hence easy to impart knowledge. The presenter is so full of energy and I have personally felt this is a good market to be part of Portia Twala, Legal advisor, JSE