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Regulatory News Service
EMI Group plc
Directors' Shareholdings
In compliance with Disclosure and Transparency Rule 3.1.4, and following the offer (the Offer) by Maltby Limited to acquire the whole of the issued and to be issued share capital of EMI Group plc (the Company) being declared unconditional in all respects on 17th August 2007, the Company announces that options granted to certain Executive Directors under the 1995 Executive Share Option Scheme (ESOS) and 2003 Executive Share Incentive Plan (ESIP) were exercised on 21st August 2007 as a consequence of the change of control of the Company resulting from the Offer.
Awards of shares granted to certain Executive Directors under the Company's Senior Executive Incentive Plan (SEIP) and the ESIP that would have vested as a consequence of the change of control (after application of any performance targets and pro-rating for time) have been cancelled in return for a cash payment equal to the price per share paid under the Offer.
Shares acquired on the exercise of options:
|
Scheme |
Type of award |
Grant date |
No. of shares originally under option |
Exercise price per share (if any) |
No. of shares acquired on exercise |
|
Eric Nicoli |
|
ESOS |
Option |
21.6.02 |
826,141 |
243.3p |
826,141 |
|
Roger Faxon |
|
ESOS |
Option |
21.6.02 |
283,000 |
244p |
283,000 |
|
ESIP |
Option |
17.6.05 |
233,302 |
254.25p |
101,247 |
|
|
|
|
|
|
|
Awards in respect of which a cash payment will be made:
|
Scheme |
Type of award |
Award date |
No. of shares originally awarded (including SEIP matching awards) |
Exercise price per share (if any) |
Notional no. of shares in respect of which cash payment made |
|
Eric Nicoli |
|
SEIP |
Incentive |
31.5.01 |
110,433 |
Nil |
110,433 |
|
Roger Faxon |
|
SEIP |
Incentive |
31.5.01 |
93,833 |
Nil |
93,833 |
|
SEIP |
Performance |
15.6.01 |
138,404 |
Nil |
138,404 |
|
ESIP |
Performance |
2.8.06 |
658,794 |
Nil |
171,918 |
|
|
|
|
|
|
|
All of the shares resulting from the exercise of options have been tendered to the Offer. The relevant Director will receive 265p in cash for each share acquired on the exercise of options on 21st August 2007 and for the cancellation of each award of shares granted under the SEIP and the ESIP. The total sum, less any exercise price and the income and social security taxes relevant to the jurisdiction in which he resides, will be paid to the Director in due course, in accordance with the terms of the Offer.
The balance of any of the grants or awards referred to above that has not vested will lapse. |