The board of musicMagpie plc (AIM:MMAG) noted the recent speculation and confirms it is in early-stage discussions with both BT Group plc (LSE:BT.A) and Aurelius Group (Aurelius Group Limited) (together "the Parties") as to a possible offer to acquire the entire issued and to be issued share capital of musicMagpie. Discussions between the parties are ongoing and remain at a very early stage. Accordingly, there can be no certainty that any offer for the Company will be made from either of the Parties, nor as to the terms of any such offer.

Accordingly, shareholders are advised to take no action at this time. A further announcement will be made as appropriate. In accordance with Rule 2.6(a) of the Code, by no later than 5.00 pm on 18 December 2023, the Parties must either announce a firm intention to make an offer for musicMagpie in accordance with Rule 2.7 of the Code or announce that they each do not intend to make an offer for musicMagpie, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. As a consequence of this announcement, an offer period has now commenced in respect of the Company in accordance with the Code and the attention of musicMagpie shareholders are drawn to the disclosure requirements of Rule 8 of the Code. This announcement has been made without the consent of BT Group plc and Aurelius Group.