SOUTHERN AFRICAN MUSIC RIGHTS ORGANISATION NPC
(Registration No. 1961/002506/08)
(“SAMRO” or “the Company”)
NOTICE OF EXTRAORDINARY GENERAL MEETING
NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (EGM) of the members of SAMRO will be held on Friday 27 October 2017, at 10h00, in the Auditorium at SAMRO Place, Ground Floor, 20 De Korte Street, Braamfontein, Johannesburg.
PURPOSE OF THE MEETING
The purpose of the meeting is to report to the members, as well as give the membership an opportunity to engage the board of SAMRO on the status and developments of the investment made by SAMRO in the UAE. This investment was in the form of an 80% owned subsidiary by the name of Arab Emirates Music Rights Organisation (“AEMRO”) and was established in 2015. The project was identified by SAMRO as an investment and expansion opportunity, in line with SAMRO’s strategic growth priorities, in terms of which SAMRO would set up a collective management organisation in the UAE with a local partner.
Following an exercise in which the potential market was scoped and a potential return of investment of over R1 billion was possible, it was intended that SAMRO would contribute its expertise and experience in the collective rights management space and would set up a platform and train a dynamic licensing team. The local partner would in turn contribute local market knowledge, relationships and stakeholder management. SAMRO was to receive a negotiated administration fee on all collections which would help to grow the local (SA) organisation’s revenue in addition to ensuring that the members in South Africa would start to receive money for the usage of their music in that region.
1. BUSINESS TO BE CONDUCTED:
- The following business will be transacted at the Extraordinary General Meeting:
- Report on the progress of AEMRO.
- To discuss such matters as may be raised by the members for discussion and which are appropriate to be discussed at this EGM, given the purpose for which it was called.
- No resolutions will be tabled at this meeting.
- Not applicable as no resolutions will be tabled.
- A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend, speak and to vote in its stead, by completing the proxy form attached hereto and delivering such proxy form to the registered office of SAMRO. Proxy forms must be forwarded (if signed in a representative capacity, together with the power of attorney or other authority, or a notarial copy thereof) to reach the registered office of SAMRO not less than twenty-four (24) hours before the time for holding the meeting or adjourned meeting.
- A proxy need not be a member of SAMRO.
- In accordance with section 63(1) of the Companies Act, please note that all members of SAMRO participating in the meeting, and/or their duly appointed proxies, must provide satisfactory identification to SAMRO upon arrival at the meeting. In this regard, subject to the chairperson’s discretion, generally only a valid green bar-coded South African Identity Book, a valid South African Identity Card, a valid passport or a valid driver’s licence shall constitute satisfactory identification. The representative of a juristic member must provide satisfactory proof of his/her authorisation to represent such juristic member, in the chairperson’s discretion.
4. RECORD DATE
- The Record Date for the meeting shall be 27 October 2017.
Only SAMRO elected Members, or their proxy, may attend the EGM.
Please arrange your own transport to and from the meeting.
By order of the Board.
6 October 2017
Please find below links to the original notice as well as the proxy form.