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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
Market Value of Land and Buildings Taking into account the acquisitions and disposals ofsubsidiaries referred to above, in the opinion of the directors the current market value of land and buildings is €20 million in excess ofthe net book value of €54 million at which they appear in the Group Balance Sheet. No allowance has been made for capital gains tax, which might arise on disposal. Employees At 30 June 1971 the Group had 40,800 employees throughout the world. The average number of persons employed in the United Kingdom was 27,400 and the aggTegate remuneration paid to United Kingdom employees amounted to €34,195,000. Donations Donations made in the United Kingdom for charitable puposes totalled €35,200 of which J21,600 was in respect of scholarships and bursaries. Election of Directors Sir Richard Clarke and Dr. J. A. Powell, who were appointed directors by the Board with effect from 1 May 1971 and 1 October 1971 respectively, offer themselves for re-election. Three directors retire by rotation and offer themgelves for re-election: they are Sir Joseph Lockwood, Mr. R. Gordon-Smith and Mr. L. G. Wood. Auditors Cooper Brothers & Co. continue their appointment as auditors to the Company under the provisions of Section 159 of the Companies Act 1948. By Order ofthe Board T. H. Tilling Secretary Hayes, Middlesex 7 October 1971
Page 2 and 3: of meeting Notice is hereby given
Page 4 and 5: 2 Main industry analysis of sales a
Page 6 and 7: Ghairman's At the end of my last R
Page 8 and 9: Finance The increased interest char
Page 12 and 13: Sales (Note 2) Profft before Taxa
Page 14 and 15: Parent Gompany Balance Sheet
Page 16 and 17: 3 Profit befote Taxation (continued
Page 18 and 19: I Fixed Assets (continued) ;"; ';;;
Page 20 and 21: t4 nesefvos Other capital reserve
Page 22 and 23: Records and Music The results from
Page 24 and 25: Music Publishing The Keith Prowse M
Page 26 and 27: Feature Films During the year, 15 B
Page 28 and 29: Electronics The year saw a marked i
Page 30 and 31: v EMI-Marine have doubled in the ye
Page 32 and 33: Property When in 1969 EMI acquired
Page 34 and 35: At 30 June Capital Employed Goodwil
Page 36: lftrvement in price of'EMI Ordinary
Page 39 and 40: Europe Products anal Services Chief
Page 41: Principal Associated Companies Asso

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