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FIN RESOURCES LIMITED — Board/Management Information 2016
Jan 20, 2016
64920_rns_2016-01-20_eef76451-61e6-46c3-92ab-9f3ca3affedc.pdf
Board/Management Information
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21 January 2016
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BOARD & MANAGEMENT
MOBIMEDIA PARTNERS WITH SONY MUSIC TO LAUNCH NEW DIGITAL MUSIC SERVICES IN BANGLADESH
Orca Energy Limited (ASX: OGY) (the Company or Orca ) is pleased to announce that Mobimedia International Pte Ltd ( Mobimedia ), the global mobile content and technology company it is proposing to acquire, has signed a partnership contract with leading Record Label Sony Music to offer international music content to consumers in Bangladesh through its music streaming service, MJAMS . Following the highly successful launch in South East Asia in 2015, MJAMS will now be available in Bangladesh and will focus on both local and international music.
Through Mobimedia and MJAMS, consumers in Bangladesh, with a population of 160 million people, can experience a seamless and sophisticated music streaming service on the web and through Android and iOS mobile applications with access to millions of songs from the Sony and Warner Music libraries. For digital businesses, Mobimedia will offer a wide array of services and assets such as music streaming, artist images, music videos, full track downloads, ring back tones and much more.
Sony Music India and Middle East President, Shridhar Subramaniam commented:
‘’ Bangladesh is an exciting market that is on the cusp of growth. We are excited to be partnering with a strong and proven partner like MJAMS who is launching a world class service that will set new benchmarks in the market.”
Mobimedia Regional Chief Operating Officer, Cameron Jackson said:
“ We are bringing a one stop licensing solution for businesses and consumers. Businesses can now use the power of international music in their digital communication platforms.”
“Telecommunication services will also be able to utilise our licensed content for the Bangladesh market. Consumers will also be able to access international music through music platforms like MJAMS and purchase content through the MJAMS music storefront. ”
Mr Greg Bandy MANAGING DIRECTOR
Mr Jason Bontempo NON-EXECUTIVE DIRECTOR
Mr Nathan Rayner NON-EXECUTIVE DIRECTOR
Mr Aaron Bertolatti COMPANY SECRETARY
REGISTERED OFFICE Level 1 35 Richardson Street West Perth WA 6005
POSTAL ADDRESS PO Box 1440 West Perth WA 6872
CONTACT DETAILS Tel: +61 8 9212 0102
WEBSITE orcaenergy.com.au
SHARE REGISTRY Advanced Share Registry 110 Stirling Highway Nedlands WA 6009
ASX CODE OGY
MJAMS has been successfully launched in South East Asia and through its various contracts with leading telecommunication providers, will soon be available in Myanmar, Sri Lanka, Pacific and now Bangladesh. As well as international music, MJAMS will also focus on developing and promoting local music and musicians through the innovative MJAMS Studio platform.
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About Sony Music:
Sony Music Entertainment is a global recorded music company with a current roster that includes a broad array of local artists and international superstars. The record label comprises some of the most important recordings in history.
It is home to premier record labels representing music from every genre and Artists such as Elvis Presley, Michael Jackson, Whitney Houston, Bob Dylan, Johnny Cash, Bruce Springsteen, Celine Dion, AC/DC, Santana, Beyonce, Britney Spears, Shakira, Foo Fighters, One Direction, Usher, Justin Timberlake, Meghan Trainor, Mark Ronson, Calvin Harris, Pharrell Williams and many more iconic Artists.
A wholly owned subsidiary of SONY MUSIC ENTERTAINMENT, SONY MUSIC ENTERTAINMENT INDIA, owns an extensive catalogue of the most legendary recordings and is home to renowned and celebrated artists and several iconic Bollywood Film soundtracks. The company takes pride in presenting listeners with several iconic Film soundtracks - Student of the Year, Kuch Kuch Hota Hai, Kabhi Alvida Naa Kehna, Kabhie Khushi Kabhie Gham, Lagaan, Kal Ho Naa Ho, My Name is Khan, Bhaag Milkha Bhaag, Rang De Basanti, Khamoshiyan, Raaz - The Mystery Continues, Jannat, Jannat 2, Tum Mile and the recent musical hit Dilwale
SONY MUSIC INDIA has a wide presence in genres ranging from Indi-Pop including Punjab, Indian Classical to Bollywood & Tamil Film Soundtracks. Sony Music India is a sub publisher for Sony/ATV in South Asia.
Sony Music Entertainment India entered into a strategic license arrangement to represent Warner in India, and other SAARC countries.
About Mobimedia:
Mobimedia is a global content and platform solutions provider for the telecommunication and consumer industry operating in over 20+ countries with offices in Australia, Singapore, Pacific Islands, Cambodia, Myanmar, Bangladesh, India, Uganda and Bolivia. With platforms to provide whole music solutions, social Apps, games, movies, videos, health and information services, Mobimedia is well positioned to bring world class entertainment and consumer engagement to Bangladesh. Mobimedia entered the Bangladesh market in 2015 by contracting with Robi Axiata Limited to deliver an extensive product range to their subscribers, Robi is one of the largest telecommunication carriers in the country with a subscriber base of approximately 30m.
Re-compliance with Chapters 1 and 2 of the ASX Listing Rules:
On 10[th] December 2015, Orca Energy announced that it had entered into a binding term sheet to acquire 100% of Mobimedia, subject to the satisfaction of various conditions precedent (including Orca obtaining all necessary regulatory and shareholder approvals). As the acquisition of Mobimedia will constitute a significant change to the nature and scale of the Company’s activities, Orca will be required to re-comply with Chapters 1 and 2 of the ASX Listing Rules.
The Company will send a Notice of Meeting to call an Extraordinary General Meeting of the Company and Explanatory Memorandum to shareholders, which will include further details about the Mobimedia business and the proposed transaction, and seek approval for completion of the transaction. The Notice of Meeting is expected to be dispatched to shareholders in February.
For and on behalf of the Board
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Greg Bandy Managing Director
Level 1, 35 Richardson Street, West Perth WA 6005 | Tel: +61 8 9212 0102 | orcaenergy.com.au | ABN 25 009 121 644 2 | P a g e