Untitled

Dividends
Preference dividends amounteil to €196,000 for the year (1969/70
€196,000).
The Directors tecomrnend a final dividend of 2.5 new pence (US
cents 6.0) per stock unit on the ordinary capital, to be paid on
13 December 19?1 to those stockholders on the Register of
Members on 12 November 1971 and entitled thereto. An interim
dividend of 3.?5 new pence per stock unit (US cents 9.0) was paid
on 6 April 1971.
During the year, the issued ordinary share capital was increaseil
ftom jgs,gga,ooo to €35,676,000, principally asthe result ofshares
issued in consideration for the acquisition of Recording Designs
Limiteil as shown above.
totalling €5,800,000 satisfied by the issue of 57,144 EMI Ordinary
Stock Units of50p, S4,331,79? in EMI SI% Convertible Unsecured
Loan Stock 1981, and €1,303,000 in cash.
Overseas
In January 19?1, the Company acquired for a cash consiileration
of €1,400,000 the whole of the issued share capital ofFona Radio
A/S, the leading retail organisation in Denmark for radio'
television and allied equipment.
In March 19?1, the Company invested €3,032,000 in acquiring a
50% interest in Voxson SpA of Rome, a company holding a
leading position in the domestic electronics industry in Italy. As
part ofthe same transaction, the Company acquired a 50% interest
in the issued share capital of Ergon SpA of Anagni, an associate
company ofVoxson, and subsequently disposeil ofit without loss.
Exports from the United Kingdom
Group exports from the United Kingdom
totalled 313,753,000 (1969/70 316,453,000)
made up as follows
Goods exported
Royalties and fees earned by UK Group
companies and royalties collected
for British artists
The directors had interests in the share capital and loan stocks of
the Company and its subsidiaries as follows:-
Year 1970/71
Dircctors' Int€rests
(I\ 50P OrdinarY (2) 8+%
Stoch tlnits Conveftible
Unsecured
Loan Stock
1981
Beginning End Beginning End
ss,
Sir.loseph t-octwood* a,OOO a,OOO 1,49
John Emms Read* 1,035 I.033 309
-
Percy Albert Allaway* 500
John Mitchell Burnett
New Acquisitions and Disposals
In the United Kingdon
In November 1970 the Company acquired the whole of the issued
share capital of Recording Designs Limited, a company specialising
in magnetic tape data storage equipment for military and
commercial use, The consiileration was 505,320 EMI Ordinary
Stock Units of50p.
In November 1970, the Company acqufued the whole ofthe issued
share capital of Prime Presentations Limited, a company having
substantial interests in theatre properties and promotions in
London and the provinces for a consideration of €261,000 in cash.
In December 1970, the whole of the issued share capitals of
Ardente Limited ancl Ardente Acoustic Laboratories Limited, both
wholly-owned Group subsidiaries engageil in the manufacture
and sile ofhearing-aid devices, was sold to Highland Electronics
Group Limited for a cash consideration of€284,000.
As at l January 1971, the Company acquired from Reed International
Limited , for a cash consiileration of €525 ,000 , 50'/" of the
issued share capital of Music for Pleasure Limiteil so bringing its
holiling in that company up to 100%.
In January 1971, the Company acquired the whole of the issued
share capitals of two property companies, Gort Estates Limited
6 and Gort Estates (Development) Limiteal for a consideration
Bernard Delfont
Capitol Industries, Inc.-
US Cents 10 Common Stock
Glenn E. Wallichs