Statement re Share Price

18 May 2007 13:53

Sanctuary Group PLC18 May 2007 Sanctuary Group PLC 18 May 2007: For immediate release The Sanctuary Group PLC ("the Company") Comment on Share Price Movement The Company has noted the recent rise in its share price. The Company confirmsthat it has received approaches from third parties that may or may not lead toan offer for the Company. A further announcement will be made in due course. In accordance with Rule 2.10 of the City Code, the Company confirms it has: • 222,186,643 ordinary shares of 2 pence in issue with ISIN GB00B0Y6NC65; • £5,170,833 unlisted Convertible Unsecured Loan Notes due 2008 convertible into ordinary shares at the rate of £2 per share; • £2,129,167 listed Convertible Unsecured Loan Notes due 2008 convertible into ordinary shares at the rate of £2 per share with ISIN GB0034276179; • 2,452,924 warrants to subscribe for ordinary shares at £2 per share which expire on 27 November 2010; and • 16,278 warrants to subscribe for ordinary shares at £70 per share which can be exercised until 31 March 2008. Enquiries: James Hogan / Craig Breheny / Ash Spiegelberg +44 (0) 20 7404 5959 Brunswick Jonathan Hinton/Leonie Grimes +44 (0) 20 7936 3000 Deloitte Corporate Finance Note to EditorsSanctuary is a UK listed international music group, encompassing recordedproduct, merchandising, and artist services (which encompasses artist managementand arranging and negotiating live performances). Sanctuary owns one of theworld's largest catalogues of recorded product outside of the major recordcompanies. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if anyperson is, or becomes 'interested' (directly or indirectly) in 1% or more of anyclass of 'relevant securities' of the Company, all 'dealings' in any 'relevantsecurities' of that company (including by means of an option in respect of, or aderivative referenced to, any such 'relevant securities') must be publiclydisclosed by no later than 3.30pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which the offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the 'offer period'otherwise ends. If two or more persons act together pursuant to an agreement orunderstanding, whether formal or informal, to acquire an 'interest' in 'relevant' securities' of the Company, they will be deemed to be a single person for thepurpose of Rule 8.3. Under the provision of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of the Company, or by any of their respective 'associates', must bedisclosed by no later than 12.00 noon (London time) on the London business dayfollowing the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevantsecurities' 'dealings' should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website at . 'Interests in securities' arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an 'interest' byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a 'dealing' under Rule 8, you should consult the Panel. If you are in any doubt as to the application of Rule 8 to you, please contactan independent financial advisor authorised under the Financial Services andMarkets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk orcontact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013. Deloitte Corporate Finance is acting for the Company and for no-one else inconnection with the possible offer for the Company and will not regard any otherperson as its client nor be responsible to anyone other than the Company forproviding the protections afforded to clients of Deloitte Corporate Finance norfor providing advice in relation to the possible offer or any matter referred toherein. Deloitte Corporate Finance is a division of Deloitte & Touche LLP, whichis authorised and regulated by the Financial Services Authority in respect ofregulated activities. This information is provided by RNS The company news service from the London Stock Exchange