TMA Annual Awards 2024

The Awards

TURNAROUND OF THE YEAR

Recognises those involved with a successful operational turnaround of an organisation that leads to sustainable, and measurable improvements in profits and cash flows. Operational turnaround includes actions taken to improve revenues, reduce costs, reinforce management, improve working capital and cash management, refocus an organisation etc.

Turnaround entries must be submitted in one of the categories listed below. The Awards Committee may re-categorise an entry should another category be more appropriate or advantageous.

Small Company

Company revenue at onset of turnaround was less than $50 million

Mid-Size Company

Company revenue at onset of turnaround was $50 million to $299 million

Large Company

Company revenue at onset of turnaround was over $300 million

RESTRUCTURING DEAL OF THE YEAR

Recognises those involved with a successful financial restructuring of an organisation. Financial restructuring mainly relates to a transaction involving a refinancing or restructuring of a capital structure, merger, acquisition, debt and/or equity transactions that lead to an appropriate recapitalisation of a stressed or distressed organisation.

TURNAROUND DIRECTOR OF THE YEAR

Recognises individual, independent turnaround directors who are placed into a distressed situation and lead a successful operational turnaround and/or financial restructuring.

Eligibility

ALL AWARDS AND CATEGORIES

Every nominee must be a TMA Australia (TMA) member in good standing prior to submitting the entry. TMA membership is on an individual basis. Please note: consideration will be given to individuals whose firm has a ‘Corporate’ (also known as a ‘Group’ membership) with TMA Australia. To enquire about a nominee’s membership status, please contact the TMA Australia National office.

The company must be stable and generating positive cash flow from operations.
The turnaround must have been substantially completed before 30 June 2024.

Optional Attachments

A maximum of three attachments may be submitted consistent with these guidelines:

Each attachment may not exceed 20 pages.
Allowable attachments in written format include brochures, booklets, newspaper clippings, newsletters, annual reports, management accounts, press releases, awards and distinctions, and correspondences. Digital format attachments are not allowed [e.g., video recording, audio recording, web links).

Judging

The Awards Committee is carefully composed to represent the diversity of the TMA membership. Entries are judged on individual merit; we reserve the right to not award a winner in a certain category in a given year. As judges review all components of the entry, they look for well-defined, measurable outcomes. The Awards Committee may re-categorise an entry should another category be more appropriate or advantageous.

Submitting Your Entry

There will be no extensions or exceptions to the Friday 9 August 2024 deadline.
Late, incomplete, or non-compliant entries, including optional attachments, will not be accepted.

Notification

Confirmation of receipt of each entry will be emailed.

Award recipients will be recognised at the TMA Australia National Conference 10 and 11 September 2024.

Publicity

Recipients will be notified of the judging outcome before results are made public. TMA requests that award recipients refrain from distributing press releases in advance of TMA’s national release. TMA will shortlist three candidates in each category from which the winner will be selected. TMA will use the information provided in the award application to generate materials to promote the TMA and Awards winners before, during and after the Conference. This will include LinkedIn posts, case studies, newspaper articles and other materials. In addition, TMA will arrange for short video segments containing interviews of the key participants on their role in the turnaround and to provide the turnaround story. These videos will be used during the. Conference. Post the Conference, these videos will be posted on the TMA website and LinkedIn as part of a promotional campaign over the following 12 months.

Questions

Contact Allison Robinson at allisonrobinson@turnaround.org.au or 1300 042 811.

TMA Australia Awards 2024 Entry Form

Award Category(Required)

Please select the category in which the award is being submitted. Each company may only be submitted to one category, and either transaction or

Small Company – Company revenue at onset of turnaround was less than $50 million

Mid-Size Company – Company revenue at onset of turnaround was $50 million to $299 million

Large Company – Company revenue at onset of turnaround was over $300 million

Restructuring Deal

Turnaround Director

Nominator

Name

First Last

Phone

Company

Nominator’s Role

Turnaround Entry Information

Company Name of Turnaround

Company: Listed or unlisted?

Listed

Unlisted

Nominees

Please list key advisory firms, one individual from each firm, and the firm’s role (e.g. Era legal, Ms T Swift, company side legal advisor) plus appropriate members of the management team

Narrative descriptions

Please answer the following questions. Responses should not exceed 500 words per question.

Provide a summary of the turnaround/restructuring

Please write in the format:

Impact: e.g. (improved EBITDA by 20m, generated $10m of sustainable increased cash flows, saved 100 jobs, etc
How did the impact get delivered? (What was involved in generating the impact, e.g. cost reduction, pricing optimisation, negotiations, asset sales, working capital, cash management, financing raising etc)
What issues was the organisation facing when work began
What were the key challenges
How did you overcome them
Key drivers of success
Outcome for key stakeholders
Why should the turnaround/restructuring win the award

Supplementary information

Please attach any other supplementary information that helps support your case that are readily available (non-mandatory)

e.g. case studies, financial reports.

Drop files here or

Accepted file types: xls, xlsx, csv, Max. file size: 50 MB, Max. files: 15.

What were the company‘s issues and root causes of the issues?

What actions did the turnaround/restructuring team take to assess the issues and develop a turnaround plan?

What were the key challenges and how did you overcome them?

How was the turnaround implemented?

What was the outcome of the turnaround/restructuring?

Demonstrate or explain how the business has been transformed into a sustainable, viable operation (e.g. return to profitability and positive cash flows, sustainable capital structure, increased enterprise value).

What was the outcome for all key stakeholders (e.g. secured & unsecured creditors, employees, shareholders)?

Key drivers of success

Timeline

Please provide a timeline of major events and the period during which each occurred, covering the four stages of a turnaround.

1 Evaluation; 2 Stabilisation; 3 Turnaround; 4 Return to normal/return to growth

Information Release Form

All nominees and nominators (it is understood this may be the same person in the case of self nomination) must complete and submit this form; duplicate the form as needed.

To the best of my knowledge, the information provided on the entry form is true and complete. I understand that all financial information shall remain confidential unless I agree to its release. By submitting this entry, I acknowledge that I accept the Awards Committee’s decision as final. If I am selected as an award recipient, I hereby authorise the use of the following [in connection with the TMA Awards Program]: my name; my company/organisation name; non-financial information; photographs; video and audio recordings of myself or others related to the award from the awards ceremony or an alternate source. I agree that no compensation shall be due to me or my company for such usage.

I indicate my understanding and compliance with the terms of this information release.

I give permission to TMA to use this entry as a sample to serve as a guide to future applicants.

Please accept the terms above to submit this form – OR – save and continue to generate a link to save your progress and submit at a later date (within 30 days).