INVESTMENT CASE

Core Strengths

• Spectra is a profitable, cash generative technology business with no debt, predictable long-term income streams and excellent growth opportunities
• Largest income stream comes from providing covert security technologies to authenticate banknotes to 20 central banks throughout the world
• All technologies were developed by the current management team under CEO Nabil Lawandy who founded Spectra in 1998 after developing the initial technology while a professor at Brown University
• Intellectual property is comprehensively protected by over 100 patents
• Spectra’s aim is to generate attractive returns for shareholders made up of capital and income growth (historic dividend yield of 4%)