At the Company's Annual General Meeting held on Wednesday 9th July 2003,
shareholders passed a resolution approving the rules of the EMI Executive Share
Incentive Plan (the "ESIP"). In accordance with such rules, awards may be
made within 42 days of the ESIP being approved and adopted by the Company in
Consequently, performance-related awards have been made as of 14th July 2003 to
a wide range of the Group's senior employees around the world. Included
amongst such participants are Eric Nicoli and Roger Faxon, Executive Directors
of the Company.
Accordingly, to comply with paragraph 16.13 of the Listing Rules, we advise
that, as of 14th July 2003, awards under the ESIP were made over EMI Group plc
Ordinary Shares of 14p each to such Executive Directors as follows:
EXECUTIVE DIRECTOR NO. OF SHARES UNDER OPTION EXERCISE PRICE PER SHARE
Eric Nicoli 1,030,589 119.25p
Roger Faxon 750,511 119.25p
These options may not be exercised earlier than three years, or later than 10
years, after the date of grant. Furthermore, the options may not ordinarily
then be exercised unless a certain performance condition, based on growth in
the Company's earnings per share, is achieved.
EXECUTIVE NO. OF PERFORMANCE TOTAL AMOUNT TO BE PAID ON
DIRECTOR SHARES EXERCISE
Eric Nicoli 515,294 100p
Roger Faxon 375,255 100p
These performance share awards may not be exercised earlier than three years,
or later than 42 months, after the award date. Furthermore, the performance
share awards may not ordinarily then be exercised unless a performance
condition, based on the ranking of the Company's total shareholder return
performance compared with companies in the FTSE Mid-250 Index (excluding
investment trusts) as of the award date, is achieved.
None of the performance criteria relating to the options or performance shares
outlined above may be subjected to retesting.