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EMI Group PLC (EMI)

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Friday 17 August, 2007

EMI Group PLC

Directorate Changes and Proposed Delisting


EMI Group plc Statement - Directorate Changes and Proposed Delisting
following Terra Firma Offer Being Declared Unconditional in All Respects

Directorate Changes

EMI Group plc ("EMI" or the "Company") announces that, following the
announcement earlier today by Maltby Limited ("Maltby") that its recommended
cash offer to acquire the whole of the issued and to be issued share capital of
EMI (the "Offer") has been declared unconditional in all respects (the "Wholly
Unconditional Announcement"), Sly Bailey, Kevin Carton, Peter Georgescu and
David Londoner resigned as Non-executive Directors of the Company with effect
from the time of Wholly Unconditional Announcement.   John Gildersleeve,
Non-executive Chairman, will remain with the Company until it delists, at which
point he will also resign.

 

Delisting of ordinary shares of 14 pence each in the capital of the Company
(ISIN:GB0000444736) ("EMI Shares")

EMI also announces that, following the Wholly Unconditional Announcement and
the applications earlier today by the Company to the Financial Services
Authority for the cancellation of the listing of EMI Shares on the Official
List and to the London Stock Exchange for the cancellation of the admission of
EMI Shares to trading on the London Stock Exchange's market for listed
securities (the "Cancellations"), EMI expects that the Cancellations will take
effect at 8.00am on Tuesday, 18th September 2007.

 

In accordance with the Listing Rules of the Financial Services Authority and as
envisaged by Maltby's offer document dated 30th May 2007 in respect of the
Offer, Maltby now has, by virtue of acceptances of the Offer, agreed to acquire
issued ordinary share capital carrying over 75% of the voting rights attaching
to the EMI Shares and the Cancellations will take effect no earlier than on the
expiry of the 20 business day period for delisting referred to in the Offer
Document which has commenced today.

 

Delisting will significantly reduce the liquidity and marketability of any EMI
Shares not acquired under the Offer at that time.

 

Enquiries

EMI Group plc

Amanda Conroy Corporate Communications +44 20 7795 7529