Executive Summary
Music Festivals plc is focused on the ownership, development, and production of music festivals. Immediately following exercise of the call options, which the Directors have given undertakings to Merchant Securities and certain institutions to exercise, the Group will wholly own two established music festivals, the Festival Internacional de Benicassim in Spain, and the Hop Farm Music Festival in Kent, England. The Group intends to expand its festival portfolio and the Company, together with Vince Power, has entered into call option agreements which will be exercised immediately following First Admission, to acquire companies operating additional music festivals in the UK. The Benicassim festival is an annual music festival which takes place in the port town of Benicassim, Spain, with a focus on live indie rock, pop and electronic music acts. The first festival took place in 1995, since when it has been held annually. Many world renowned artists have played at the festival including Paul Weller, Kings of Leon, The Chemical Brothers, Blur, Franz Ferdinand, Morrissey, Scissor Sisters, Oasis and The Killers. The 2011 festival is scheduled to take place between 14-17 July 2011, with Arcade Fire and the Strokes as the headline acts
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