Southern African Vehicle Renting and Leasing Association s5

SOUTHERN AFRICAN VEHICLE RENTING AND LEASING ASSOCIATION

SAVRALA ANNUAL GENERAL MEETING

MINUTES OF THE 33rd ANNUAL GENERAL MEETING OF MEMBERS OF THE SOUTHERN AFRICAN VEHICLE RENTING AND LEASING ASSOCIATION HELD AT THE JOHANNESBURG COUNTRY CLUB, NAPIER ROAD, AUCKLAND PARK ON FRIDAY, 22 OCTOBER 2004 AT 11h45

PRESENT : Mr J Broadway Leaseplan Fleet Management SA (Pty) Ltd (President) Mr P Pauwen 080 Car Hire Ms B Simmonds Jonad t/a 0-eight-0 Car Hire Ms S Camera Avis Fleet Services (Pty) Ltd Mr G Smith Avis Rent a Car Mr D Porteous Avis Rent a Car Mr K Lombaard Barloworld Fleet Services Mr C Prinsloo Barloworld Fleet Services Ms K Whittal BMW SA Mr K Lombaard Budget Rent a Car Mr T Langley Budget Rent a Car Mr T Greggor Budget Rent a Car Ms C Terbruggen Combined Motor Finance (Pty) Ltd Mr J van Niekerk Contract Lease Management (Pty) Ltd Ms T Bergmann Daimlerchrysler SA (Pty) Ltd Ms P Van Oudtshoorn Daimlerchrysler SA (Pty) Ltd Mr M van der Colf Debis Fleet Management (Pty) Ltd Mr P Jacobs Europcar Southern Africa Mr L Eicker Fleet Africa (Pty) Ltd Ms M Hopgood General Motors South Africa Mr R Lind Hertz Rent a Car Mr N Nel Hertz Rent a Car Ms L Roesch Imperial Car Rental (Pty) Ltd Ms M Vosloo Imperial Fleet Services (Pty) Ltd Ms S van Zyl Key Vehicle Management Ms A Frank Kia Motors South Africa Mr R Richards Leaseplan Fleet Management SA (Pty) Ltd Ms L Kotze Nedlease / Nedfleet Ms E Ellis Nissan SA (Pty) Ltd Ms L Gunning Nissan SA (Pty) Ltd Ms S Tryon Sizwe Car Rental Ms G Nolan Springs Car Wolesalers cc t/a Thrifty Mr R Marchington Standard Bank Fleet Mr L Matthews Tempest Car Hire Mr S Aaron Tempest Car Hire Mr Marc Corcoran Tempest Car Hire Ms A Homan Toyota SA Marketing Ms C Rheeder Toyota SA Marketing Mr M Yeomans Viamax Fleet Management (Pty) Ltd Mr W Duvenage General Manager – Rental Section

APOLOGIES : Mr L Hillary Nissan South Africa Ms R Tolken Nissan South Africa Mr D Robilliard Nissan South Africa Mr A Jeffrey Nissan South Africa Mr C Camera Renault Mr S Staley Control Instruments (Pty) Ltd Ms E Tryon Sizwe Car Rental Mr S James Avis Fleet Services (Pty) Ltd Mr A Groenwald Contract Lease Management (Pty) Ltd Mr P Greenwood Fleet Africa (Pty) Ltd Mr D Maltby General Motors SA Mr B Pearson Imperial Fleet Services (Pty) Ltd Mr J Loxton Imperial Fleet Services (Pty) Ltd Mr F Quinn Imperial Fleet Services (Pty) Ltd Mr K Naidoo Nedlease / Nedfleet

BY INVITATION : Mr W Fletcher Alchemy Financial Management (Pty) Limited Mr S Cleary Guest Speaker

The Chairman welcomed all members present to the meeting. He then declared the proceedings in session.

Action 1. NOTICE OF THE MEETING

The notice convening the meeting was taken as read.

2. CONFIRMATION OF MINUTES

The minutes of the previous Annual General Meeting of the Association held on Friday, 24 October 2003 (copies of which had been previously circulated) were accepted and signed by the Chairman as a true reflection of the proceedings.

3. MATTERS ARISING FROM PREVIOUS MINUTES

There were no matters arising from the previous minutes.

4. SECTIONAL CHAIRMAN’S REPORT

Due to the fact that the respective Chairpersons had already read their reports in the Sectional meetings, John Broadway proposed that the meeting continue with the rest of the Agenda and this was agreed by the members.

5. PRESIDENT’S REPORT

John Broadway presented the President’s report, a copy of which is attached, for the year ending 30 June 2004. The report as read was adopted by the meeting. Action

6. FINANCE

Warren Fletcher of Alchemy gave a brief summary of the annual financial statements of the Association as at 30 June 2004, (abridged copies of which had been distributed to members), showing a surplus of R1 366 against a budget deficit of R42 000. The main points on the financial statements were that the Association had cash reserves of R762 000 together with accounts receivable of R527 000. The reason for the high receivables figure was due to the invoicing of 2005 subscriptions and revenues invoiced in respect of the 2005 Manufacturer of the Year function. The main costs of the association during the year were incurred in respect of the outsourced services such as the consolidation of statistical data and public relations.

As there were no major issues arising from the meeting regarding the financial statements, it was proposed and agreed that the financial statements be accepted as presented.

The budget proposed for 2004/2005 reflected a surplus of R25 000 and basically took account of similar costs as were incurred in the previous year. Wayne Duvenage, the Rental MD, had proposed an increase of 5% in respect of his remuneration and this had been accepted by the NEC. Due to the current status of the education initiative, it had been decided that no amount needed to be specifically provided for in the budget. The budget as prepared was accepted by the meeting.

A request was raised by the members that they were to be informed of any new or resigning members.

The decision to re-appoint Meynel Buys and Partners as auditors and Alchemy Financial Management as secretaries, as had been agreed by the NEC, was ratified by the members. The fee proposal by Alchemy of R70 000 excluding VAT, being an increase of 7.7% from 2003/2004, that had been accepted by the NEC, was also ratified by the members.

7. PRIORITIES FOR 2004/2005

Although there were various initiatives currently on the horizon in respect of Public Relations and Media Publications, John Broadway indicated that the incoming committee would need to give their attention to these initiatives and make their selection.

The Hospice Golf Day to be held on 9 February 2005 was in the process of being arranged and members were asked to give their full support as and when invited to do so.

8. OFFICE BEARERS

John Broadway called Warren Fletcher of Alchemy Financial Management to preside over the process of appointing the President and Vice President of the Association for the year ahead. Warren Fletcher indicated to those present that nominations had been requested via e-mail and that only those who had indicated their willingness to stand would be voted on at the meeting. The only two nominations for President were Paul Pauwen and Sherl Camera. By show of hands Sherl Camera was appointed as President to the Association for the 2004/2005 year. Action The nominees for Vice President were Paul Pauwen and John Broadway and after the taking of a vote by show of hands, Paul Pauwen was elected as the new Vice President for the 2004/2005 year. The make-up therefore, of the NEC for the coming year, was thus confirmed as being :

Sherl Camera – President Paul Pauwen – Vice President Ross Richards – Chairman for Leasing Johan van Niekerk – Vice Chairman for Leasing Gary Smith – Chairman for Rental Leslie Matthews – Vice Chairman for Rental

9. ANY OTHER BUSINESS

Manufacturer of the Year Award

John Broadway gave a brief review of the Manufacturer of the Year Award to be held that evening, making reference to the fact that once again the support received from members had been overwhelming and that thanks needed to be given to Margie Gawith for her excellent organisation of the event.

There being no further business to discuss, the meeting terminated with a vote of thanks to the chair. John Broadway then called upon Paul Pauwen to introduce Mr Sean Cleary, who gave a thorough insight into the unpredictability of the global economy.

DATE : ______CHAIRMAN : ______

PLACE : ______

Ref : SAVRALA /Minutes – AGM 22 October 2004