Tally (TLYH)
From ValueWiki
Tally Ventures Inc is the listed parent company of an international wealth management group based in Luxembourg. Tally-Ho Ventures continued its roll-up strategy of acquiring diversified wealth management organizations with the purchase of ProTrust Private Clients (now known as MasterTrust). Tally-Ho Ventures' first acquisition was Master Finances Europe in October 2005. In less than a year Tally-Ho Ventures grew assets under management to U.S. $1.85 billion and joined an elite group of wealth management institutions globally. [1]
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Company Analysis
The Company is achieving its goal of becoming one of the leading European wealth management firms through strategic acquisitions and by combining in-house resources to create economies of scale in its back office operations.In addition the Company is achieving growth by adding institutional and high net worth investors to its client base.
While Tally-Ho, the parent company, and its subsidiaries have existed as a single entity for less than a year, Mr. Gregg, CEO of Tally Ho pointed out that both MasterTrust and Master Finance have more than 40 years combined experience in operating as wealth management entities. "With this in mind, we are pleased to reiterate that Tally-Ho expects net profits for 2006 of $2.1 million, or $0.13 per share, based on current shares currently outstanding," Mr. Gregg said. "These projections reflect full year earnings from Master Finance but only 3 (three) months of earnings from MasterTrust. With the proven operations of both, our confidence level is very high for 2007." [citation needed]
Tally-Ho Ventures is carrying over this strong performance into 2007, according to Mr. Gregg. "The recent acquisition of Primus Produkt & Vertriebs Management SA of Lugano, Switzerland, was completed on January 10th for U.S. $1 million. The acquisition is anticipated to add U.S. $1 million or $.06 cents per share in net profits for 2007, based on currently outstanding shares, and brings total assets under management for Tally-Ho to approximately U.S. $2.25 billion," he said.
For 2007, Mr. Gregg said, the Company will focus on integrating its recent acquisitions and continue its internal growth as well as seeking other synergistic and accretive acquisitions in a disciplined manner. The Company is also pursuing the granting of a fund distribution license for MasterTrust in Switzerland, which would permit an expansion of product offerings to the Company's client base, he said.
Mr. Gregg also noted that shareholder approval would be sought to change the name of the company to Premier Wealth Management Corp., a name that more accurately reflects the Company's direction, he said. "It is also our intent to work toward a listing of the Company's shares on a broader exchange in the United States or United Kingdom and to explore the feasibility of a stock buy-back program," he said.
"Going forward, we will continue to add seasoned wealth management executives to the Board of Directors and to Tally-Ho's management team," Mr. Gregg said. "With a strategic plan in place, we have every confidence that 2007 will be a year of significant development and growth for the Company and its shareholders."
- Tally Snapshot[2]
- Outstading Shares: 11,398,341 as of 2006-07-01
- Transfer Agent: Select Fidelity Transfer Services Ltd., Toronto, ON M5H 2R3
- Tally Contact Information
- Address: 115 Route d'Arlon Capellen, L-8311 LUX
- Website: http://www.tallyhoventures.net
- Phone: 011-352-2630-1540
- Fax: +9714 885 1389
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Leadership
Nigel Gregg, CEO
Nigel was trained as an accountant with KPMG and became a Certified Public Accountant in 1994. His academic background combined with his sales ability and flair made him a target for Prudential International. He has spent 7 years at Prudential International before agreeing to join the team in his senior role. At Prudential he was responsible for European development and was ultimately responsible for 40% of Prudential Internationals EU business
Jose M Meleth, CFO
Jose obtained his M Com and LL B degrees from Mahatma Gandhi University and is a qualified accountant. Jose's accomplished finance career includes roles as auditor and counsel to the Ministry of Finance, Government of India. He has participated in the investigations for the Bombay Stock Exchange securities division and acted as auditor in numerous securities transactions.
Jose is also a director of nine companies based in several countries, overseeing the firm's finance, credit, operations, payroll, and lending areas. Jose also works closely with the CEO developing and executing the comprehensive business and financial management strategies required for accomplishing the Tally-Ho Ventures’ growth objectives.
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