ExtraordinaryGeneralMeeting

ProposedReverseTakeoverof:

SGXListedRadianceGroupLimited
By
GlobalInvacomHoldingsLimited
Recap:BackgroundtoEGM

www.global-invacom.com
ChallengesFacingRadiance
CoreBusiness:ElectronicManufacturing
Services
o FacilitiesinShenzhen&Shanghai
EMSfacing3majorchallenges:
o Foreignexchange(strongerRMBvs.USD)
o RisingLabourCosts
o RisingMaterialCosts

(MostplayerslackIPandhencecannot
providevalueaddedcapabilities)
RadiancesFinancials ASnapshot
FY 2011 FY 2010

Revenue (S$) 104.7 M 85.2 M

Net Profit After Tax

5.5 M 5.8 M
(S$)
Net Tangible Assets
16.14 Cents 14.48 Cents
Per Share (S$)

Issuedsharecapitalbase:263.77M.
Currentmajorshareholder:VistraCorporate
ServicesLimitedwhichholds59.08%astrustee
ofThePacificTrust
Radiance FY2011Performance
GlobalInvacom,RGLslargestcustomer,contributed
S$45.3M SatCommsrevenue(>50%ofRGLstotal
revenuefromFY2009 FY2011)

NonSatCommsbenefitedfrom1H2011oneoff
contract
o ContributedtoS$10.3MincreaseinrevenueinOther
Productsegmentin1H,S$15Mfullyear
o NorepeatsofarinFY2012ofnewoneoff(nonSat
Comms)orderofthissize
o SignificantRevenueandEarningsdeclinein1HFY2012
RadiancesFuture
ProspectsbasedonStatusQuo:

1. LackofIPwouldmeanconstant
marginsqueeze;Additionally,
customersexpectmorevalue
addedEMS(Design,Advanced
Engineering,etc.)
2. SlowdowninEuropehasledto
weaker,delayedorders,price
cuttingandconsolidationof
weakerEMSplayersinPRC
AboutGIHL
UKbasedGroupwhicharosefrom
2008mergerofGlobal
CommunicationsandInvacom

Oneofsevencompaniesworldwide
involvedinR&D,designandsupplyof
SatCommproductstolargescale
satellitebroadcasters(e.g.BSkyB
andDISHNetworks)
AboutGIHL:OurCoreBusiness
Satellite SatelliteBroadband
TV Broadcasting Satellite
Broadcasting Satellite

Transmission Transmission
fromSatellite fromSatellite
todishonly todishand
Transmission fromdishto
Footprint satellite
GoodProspectsforSatComBusiness
USA: Europe:
34%PayTVhouseholds SatelliteistheleadingTV
Satellite infrastructure
58%PayTVCable(but In2008 2012:
reducingYoY) o SatelliteTVsubscribergrowth
rateof22%
o TerrestrialTVlost16Mhomes
o Cablelost2Mhouseholds
o Satellitereaches44%ofall
186MdigitalTVhomesandis
stillgrowing
GIHL:FinancialSnapshot
FY 2011 FY 2010

Revenue (US$) 62.9 M 53.4 M

Net Profit After Tax

4.1 M -5.9 M
(US$)
Net Tangible Assets
35.39 Cents 26.07 Cents
Per Share (US$)
CashGenerative:
GIHLHistoryofDividends(equivalents)(20072010)
Investments(20092011):US$24M(incl.RGL
US$8.6M)
NoDebt
FY2010cashgenerative:PATstatednetof$8.6m
noncashoneoffcost[PacificTrust]
AboutGIHL:RevenueBreakdown
Revenue (US$m) FY 2009 FY 2010 FY 2011

DBS* 64.3 44.6 52.8

Fibre 1.6 4.5 6.1

VSAT* 5.9 4.3 4.0

Total GIHL Group [Sat

71.8 53.4 62.9
Comms]

* DBS: Direct Broadcast Satellite

VSAT: Very Small Aperture Terminal
AboutGIHL:Financials
GIHLsInvolvementwithRadiance
TheHistory
RoadToRTO
Pre20092009 2010 2011 2012 2013.
Thumb Thumb GIHL RTO EGM
acquires faces MGO announced
control liquidation

RGL
Enlarged
Group
GIHL
MBO Acquires
control
ofRGL
RationaleforRTO

www.global-invacom.com
ValueProposition PostRTO
Outlook Group
Createattractivehightechentitylisted
onSGX
GrowthpotentialforSatComms,VSAT
andFibre
Marginsustainability
StrongR&Dcapabilities
VerticalintegrationforGIHL

Market
MarineMarket
o 3040%RevenueGrowth
USSatelliteBroadband
ExpansioninAsiaPacific
TermsofRTO
1. AcquisitionofGIHLforUS$49M(atadiscountof12.66%
fromvaluationofUS$56.1MasofJune2011)tobe
satisfiedbyUS$18.5McashandUS$30.5MinnewRGL
shares.
2. FourtooneconsolidationofRGLsharesbeforeRTO
(from263.77Mto65.94M).
3. Allotmentandissueof122.52MnewConsideration
SharesatanissuepriceofS$0.3087each(S$37.8M)
TermsofRTO contd
4. Allotmentandissueofupto41.54M
PlacementSharespursuanttothe
CompliancePlacement.
5. TerminationofRadianceElectronics
ShareOptionScheme(ESOS)2003
6. AdoptionofGlobalInvacomGroup
EmployeeShareOptionScheme
7. ChangeofnameofCompanyfrom
RadianceGroupLimited toGlobal
InvacomGroupLimited
TermsofRTO contd
 EnlargedGroup:
ProformaRevenueBreakdown(S$m)
Revenue (S$m) FY 2009 FY 2010 FY 2011

DBS* 93.6 61.1 66.3

Fibre 2.4 6.1 7.6

VSAT* 8.6 5.8 5.0

Total Sat Comms # 104.6 73.0 78.9

Contract Manufacturing 45.5 44.8 59.4

Enlarged Group Total 150.1 117.8 138.3

#SatCommsaccountsfor63%ofrevenueofenlargedgroup(onpro formabasis)

* DBS: Direct Broadcast Satellite

VSAT: Very Small Aperture Terminal
ProFormaFinancialsof
EnlargedGroup
Enlarged Group :
FY 2010 FY 2011
Proforma EBITDA S$m 15.7 17.9
Proforma PAT S$m 10.5 11.9

Market Cap post Compliance Placement S$m 71.0

EBITDA multiple 4.5 4.0

P/E multiple 6.8 6.0

Multiples improved from FY 2010 to FY 2011

Note:FY2010ProformaresultsexcludeoneoffcostsofS$11.7massociatedwithpastservices.
KeyPointsToNoteForRTO
Themajorityshareholder,PacificTrust,
cannotvoteattheEGM decision
solelyinhandsofminorityshareholders
PostRTOandcomplianceplacement,
GIHLshareholderswillholddirectly
53.1%ofenlargedsharecapitalplusa
deemedinterestof16.9%[viaPacific
Trust]
Totalofdirectholdingsplusdeemed
interest:70%(AfterCompliance
Placement)
AssumingRTOisApproved,
WhatNext?
NamechangetoGlobalInvacomGroupLimited
Fullintegrationofbusinessprocesses:
o Hightechsatellitecommunications
specialistfullyintegratedwith
manufacturingoperationsinChina.
o Injectionofnewbusinessplatformsand
addedrevenuestreams
Complianceplacement
Thestartofanewchapter
THANK YOU