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Proposal
to
Merrion Pharmaceuticals plcby
Bloxham
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Overview Part I - Profle o Bloxham
Part II - Overview o Merrion Pharmceuticals plc
Market Perception
The Key Issues acing the ompany
Part III - Proposal to Merrion!hat Bloxham will "ring to Merrion
Marketing an# $eman# %eneration or the %roup&s 'hares
Our role in long term #evelopment ( support o the %roup
Part I) - The Bloxham Team
onclusion
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Part I - Introducing Bloxham
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Bloxham Overview & Key Businesses
In#epen#ent Irish stock"roker with origins #ating "ack over*++ years
Bloxham is a partnership an# we are in#epen#ent o any"anking group
Institutional ,uities . *+/ market share in Irish euity market
0o1 * in Institutional Bon#s in $u"lin
'u"stantial !ealth Management ( Private lient "usinesses
2ocal 'ponsor Broker an# orporate 3inance 4#viser
Over 56"n un#er management in !ealth management (Private clients
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Corporate Finance ActivitiesAdvisory & Transaction Management
Our corporate a#visory work with "oth uote# an# private plcsinclu#es a#vising companies on7
Fundraisings & placements
IOs and !econdary "istings
Buyouts
Ac#uisitions & $isposals
Corporate %overnance & !trategic and Financial
Advice
,xperience# in structuring an# executing transactions with
particular expertise working with growth oriente# "usinesses
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Corporate Finance Credentials#uity Capital 'aisings
!e have access to all capital markets segments with aull range o euity8 euity relate# an# fxe# income
securities a#vising companies on7
rimary and !econdary Fundraisings
rivate lacements Institutional and rivate Client $eal
structures
Buyouts (nance
Tax )ased *undraisings !e have arrange# innovative an# complex solution
where appropriate an# tailore# to the specifc situation
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Institutional #uities+Corporate Bro,ing
!e act as 'ponsor Broker on the Irish 'tock ,xchangeto ully liste# an# I,9 tra#e# companies1 #uity lacings & IO Fundraisings Investors 'elations rogrammes Mar,et related advice
!e are "roker to 7- FB$ -oldings plc .orld!preads %roup plc
Ogles)y & Butler %roup plc :ecent 4##itions o !orl#'prea#s %roup to I,9
'ecure# I,9 4#visor 'tatus earlier this year
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Institutional #uities
3astest growing "roker in the institutional market with
highly regar#e#8 un"iase#8 an# in#epen#ent a#vise
*+/ share o Irish ,uity Market
,xtensive lient "ase covering all ma;or local an#International institutions
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Institutional Bonds 0um"er * Institutional Bon#
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.ealth Management & rivate Client)usinesses Bloxham has a long track recor# in un# ( portolio
management acting on #iscretionary or execution "asis
!ealth Management #ivision ocuses on Bloxham ownmanage# Investment 3un# pro#ucts
Private lients manages all aspects
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Part II - Merrion Pharmaceuticals plc
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Profile of the Company
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Market Perception 3ollowing initial post IPO enthusiam ompany has experience
all oC in interest in its shares an# it has un#erperorme#
'hares a#versely aCecte# "y the all out o smaller capstocks an# also the current poor market con#itions
Market has overlooke# the ompany "ecause o these pointsan# also pro"a"ly its sector
The Market has not properly rewar#e# the ompany or itsachievements
0or has it recognise# the signifcant value potential ompanyhas1
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Part III - Proposal to MerrionPharmaceuticals
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$ur %pproach to &ole of Broker an' !() %'*iser !e will act as a#viser to the ompany on I,9 market rules8 share tra#ing
matters an# on corporate transactions
!e liase with the Irish 'tock ,xchange on "ehal o the ompany on all
transactions8 market compliance an# regulators matters
!e will review all the ompany&s announcements an# a#vise on
presentation o matters to investors
!e will en#eavour to work with our 4IM noma#?"roker counterpart an#coor#inate #ealings on market matters or the maximum transactions"eneft o the ompany
!e will provi#e a share #ealing service an# en#eavour to make a marketin the shares an# arrange or "uyer?sellers to support market in theompany shares1
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ey Messa"es must tell the Market Merrion is an Irish success story - uniue in #eveloping
me#ical #evice pro#ucts with state o the art technology an# IP
ompany is now poise# or a very signifcant positive up lit insales an# profta"ility over the next *= to *A months
ompany is not as expose# to market #ownturn as tra#itionalsectors stock is on the cusp o a ma;or perormance lit oC1
4n a##itional listing will sen# a positive signal to the Market
an# reinorce the key un#amental investment story an#
It will potentially expan# its sharehol#er "ase siHa"ly resultingin a avoura"le increase in market liui#ity an# share tra#ing#eman# or Merrion&s shares
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2.
&atin"/0aluation ey ri*ers
'i(uidit Market !entiment generall Peer grou) rating Small ca) Stock "(uit rai!ed *uture )ro!)ect! +i!toric )er#ormance
Perce)tion o# management Minorit intere!t! ,a)ital rowth. ,a!h /ividend PO. 0e value driver!
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Bloxham &ole
1dvi!or 2 Inve!tor elation!
orporate Broking :esults an#'trategy ommunication Investorrelationships
'ta"le highuality investor"ase
4#vocate role?con#uit o
inormation
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Bloxham $*er*ie- ey business
Part I) - The Bloxham Team
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The Bloxham Team
Patrick Dempsey, Partner, Institutional Equities
Pa##y ;oine# Bloxham in 'eptem"er =++> as a partner o the frm an#
hea# o Institutional ,uities1 Pa##y is responsi"le or the management othe ,uity 'ales8 ,uity Tra#ing an# :esearch groups within Bloxham1Pa##y ;oine# Bloxham rom $avy8 were he hea#e# up ,uropeanInstitutional ,uity 'ales an# was also a sharehol#er o the %roup1
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The Bloxham TeamKevin cConnell, Head of !esearc"
Kevin8 a hartere# 3inancial 4nalyst8 is hea# o ,uity :esearch at
Bloxham 'tock"rokers since =++*1
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Warning: Bloxham does not make any representation or warranty, express or implied, as to,
or assume any responsibility for, the accuracy, reliability or completeness of any of the aboveinformation or any other information contained in this document and will be under no
obligation to update or correct any inaccuracy in the information or be otherwise liable toyou or any other person in respect of the contents of this document. No statements orrepresentations made in this document are legally binding between Bloxham and the
recipient. Any proposal is subect to contract terms being agreed.
/i!claimer
Warning: !ast performance is not a reliable indicator of future performance. "he value of
investments and the level of income from them may go down as well as up and an investormay not get back the amount originally invested. #eturns may increase or decrease as aresult of currency fluctuations and general market trends.