Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Wednesday 24 April, 2002


HMV Flotation

24 April 2002

Not for release, publication or distribution in, or into, the United States,
Canada, Australia or Japan

                                 EMI Group plc

                           Flotation of HMV Group plc

LONDON, 24 APRIL 2002 -- EMI Group plc ("EMI") is pleased to note that HMV Group
plc ("HMV") has today issued a price range prospectus for its global offer (the
"Global Offer") in relation to its proposed flotation on the London Stock
Exchange. The prospectus gives an indicative price range for the Global Offer of
190 to 220 pence per HMV ordinary share.

The currently expected offering structure, as reflected in the prospectus,
involves EMI offering part of its holding of ordinary shares in HMV in the
Global Offer. EMI would also grant UBS Warburg an overallotment option, at the
offer price, in respect of further ordinary shares in HMV.

At the mid-point of the price range, the net cash proceeds to EMI as a result of
the flotation would comprise the following elements:

• £69m, representing deferred and contingent consideration payable to EMI by HMV
on its listing under the terms of the 1998 sale agreement between EMI and HMV,
and the redemption of EMI's holding of senior preference shares in HMV;

• approximately £72m in respect of ordinary shares in HMV to be offered by EMI
in the Global Offer; and

• approximately £40m if the overallotment option were exercised in full.

Sale of all of the shares to be offered by EMI, including those comprised in the
overallotment option, would result in EMI having a residual holding of
approximately 11% in HMV following its flotation, which, based on an offer price
at the mid-point of the indicative price range, would have a value of
approximately £90m at flotation. This holding would be subject to lock-up
arrangements for six months from flotation.

The actual number of ordinary shares to be sold by EMI in the Global Offer, and
the price at which they are sold, will not be finalised until shortly before the
flotation and, therefore, the final value of the ordinary shares sold by EMI and
EMI's residual holding in HMV may be higher or lower than indicated in this

A further announcement will be made by EMI following a final decision as to the
pricing and other details of the Global Offer.


EMI Group plc
Amanda Conroy              SVP, Corporate Communications           020 7667 3216
Siobhan Turner             Director, Investor Relations            020 7667 3234

Brunswick Group Limited
Patrick Handley                                                    020 7404 5959

The contents of this announcement, which have been prepared by and are the sole
responsibility of EMI Group plc, have been approved by UBS Warburg Ltd., a
subsidiary of UBS AG, solely for the purposes of Section 21(2)(b) of the
Financial Services and Markets Act 2000. This does not constitute a
recommendation regarding the Offering. The value of an investment may go down as
well as up. Potential investors should seek advice from an independent financial
adviser as to the suitability of the Offering for the individual concerned.

This announcement does not constitute, or form part of, an offer or invitation
to sell or issue, or any solicitation of an offer to purchase or subscribe for
securities and any subscription for or purchase of, or application for, shares
in HMV to be issued or sold in connection with the Offering should only be made
on the basis of information contained in the prospectus issued in connection
with the Offering and any supplements thereto. The prospectus contains certain
detailed information about HMV and its management, as well as financial
statements and other financial data.

This announcement does not contain or constitute an offer of securities for sale
in the United States. The securities referred to herein have not been and will
not be registered under the US Securities Act of 1933, as amended, and may not
be offered or sold in the United States except pursuant to an available
exemption from registration thereunder. No public offering of securities is
being made in the United States.

This announcement and the information contained herein is not for publication,
distribution or release in, or into, the United States, Canada, Australia or
Japan. Stabilisation / FSA.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t