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MultiChoice South Africa Holdings Proprietary Limited
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Integrated annual report 2017
15
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REGULATORY
Our strategy formulation and implementation are
affected by regulatory developments, such as
the communications ministry’s review of the
broadcasting sector and the proposed
amendments to copyright legislation and the
Film and Publications Act. In addition, the
Independent Communications Authority of
South Africa (Icasa) is conducting an inquiry into
the state of competition in the broadcasting
sector. Matters before competition authorities
remain a key focus and that, together with
regulatory challenges, are placing increasing
demands on senior management time.
DIRECTORS
In terms of the MultiChoice memorandum
of incorporation, one third of directors retire
annually and reappointment is not automatic.
Elias Masilela, Khulu Sibiya and Don Eriksson,
who retire by rotation at the annual general
meeting (AGM), are eligible and offer themselves
for re-election. Shareholders will be asked to
consider their re-election at the AGM, notice
of which is included in this report.
Due to his increased responsibilities as chief
executive of the Naspers video-entertainment
segment, Imtiaz Patel stepped down as
acting group chief executive and a director of
MultiChoice on 22 March 2017. As an interim
arrangement, the MultiChoice executive chair,
Nolo Letele, temporarily assumed the duties of
the South African group chief executive in
addition to his executive chair duties. In line
with internal governance requirements, the
lead independent director on the MultiChoice
board steps in, in this instance.
Members of the audit committee at 31 March
2017 were Don Eriksson, Elias Masilela and
Salukazi Dakile-Hlongwane. The board
recommends their re-appointment as audit
committee members. Shareholders will be
asked to consider their appointments at the
AGM as required by the Companies Act of
South Africa.
Brief biographical details of all directors appear
on
pages 61 to 63.We thank our fellow board members for their
continued guidance and support in another
challenging year. We also appreciate the
commitment of the management teams and
employees across our businesses who have
driven our strategy to achieve our objectives
and realise our full potential.
FOCUSING ONTHE FUTURE
We will continue to focus on giving our
customers access to a world of entertainment
– anywhere, anytime and on any platform.
Our direct-to-home growth initiatives will remain
focused on meeting our customers’
expectations by airing the best in sport and
general entertainment content for our various
platforms and further investing in local content
speci c to customers in our markets. We will
enhance our offerings by inventing original
products, investing in and developing new
technologies, while continuing to improve our
customer-service initiatives.
Nolo Letele
Executive chair and acting group chief executive
9 June 2017
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