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Downing: Income & Growth presentation at Mello May 2019

17 July 2019

Downing: Income and Growth By James Lynch, Fund Manager, Downing & Ian Fishwick, Chairman, AdEPT Technology

James Lynch, Fund Manager, Downing

Introduction – 00:28
Market opportunities: small cap v large cap – 01:23
DiscoverIE – 03:05
AdEPT Technology – 07:34

Ian Fishwick, Chairman, ADT

ADT Key Fundamentals – 08:28
ADT Strategy – 10:18
ADT Sectors – 13:10
ADT KPIs – 14:56
ADT Acquisitions – 18:44

James Lynch, Fund Manager, Downing

AdEPT mispriced – 19:44
Ramsdens – 21:03

Ian Fishwick, Chairman, ADT

M&A v organic growth – 27:57 Share buybacks – 32:36

Q&A – 34:25


James Lynch: James joined Downing in February 2012 as part of the Private Equity team, gaining transaction experience in the SME space across a range of industries before transferring to Downing Public Equity in 2013. Prior to Downing, James worked within the asset management division of Ernst & Young after specialising in smaller companies at HW Fisher & Company. James is a CFA Charterholder, Chartered Accountant (ACA) and holds the Investment Management Certificate. James manages the MI Downing Monthly Income Fund and co-manages the Downing Strategic Micro-Cap Investment Trust.

AdEPT Technology Group plc, formerly AdEPT Telecom plc, is engaged in providing managed services for information technology (IT), unified communications, connectivity and voice to over 100 Councils, NHS Trusts and other government bodies. The Company’s segments are fixed line services (being calls and line rental services) and managed services (which are data connectivity, hardware services, IP telephony, support and maintenance services). It is engaged in the provision of voice and data communication services to both domestic and business customers. The Company offers technical and commercial options for onsite and cloud-based telephony. The Company serves approximately 20,000 commercial customers including worldwide and nationwide


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