Termination of Option

3 Aug 2007 07:00

Sanctuary Group PLC03 August 2007 Sanctuary Group PLC3 August 2007 THE SANCTUARY GROUP PLC (the 'Company) Termination of Option On 1 June 2005, the Company entered into an option agreement (the "OptionAgreement") with Warner Music Inc ("Warners") pursuant to which the Companygranted to Warners the irrevocable, sole and exclusive option to acquire theright to exercise for a period of five years a series of rights to distributeall recordings owned or controlled by the Company or any of its affiliates(subject to certain exceptions) from the date of termination of certaindistribution agreements between the Company and/or any of its affiliates andSonyBMG. The Option Agreement may be terminated in the event that any person gainscontrol of the Company by paying to Warners certain sums. Following theannouncement by Centenary Music Holdings Limited yesterday that the recommendedcash offer to acquire the entire issued and to be issued share capital of theCompany made by it on 15 June 2007 has been declared unconditional in allrespects, the Company has served notice to terminate the Option Agreement. Enquiries:James Hogan / Craig Breheny / Ash Spiegelberg Brunswick +44 (0) 20 7404 5959 Note to EditorsSanctuary is a UK listed international music group, encompassing recorded product, merchandising, and artist services (which encompasses artist management and arranging and negotiating live performances). This information is provided by RNS The company news service from the London Stock Exchange