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Pin to quick picksHipgnosis Song. Share News (SONG)

Share Price Information for Hipgnosis Song. (SONG)

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Share Price: 69.00
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Hipgnosis Songs is an Investment Trust

To provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights.

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Hipgnosis hails music streaming, TikTok boom as net asset value rises

Mon, 07th Jun 2021 13:42

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday reported a 16% total net asset value return in the 2021 financial year, as it benefits from the boom in people streaming classic songs in the pandemic.

The Guernsey-registered music investment company said its net asset value increased 11% in the year ended March 31 to USD1.6829 per share, in a trading update ahead of its full-year results. The FTSE 250 company owns the rights to the catalogues of musicians including Neil Young and Fleetwood Mac's Lindsey Buckingham.

That reflects an increased valuation by an independent valuer, as a result of growing royalties from streaming and platforms including TikTok and Peloton Interactive Inc.

Hipgnosis said it is well-placed for growth after an acceleration in the number people signing up to music streaming services. Streaming income increased 18% in the second half of the year from the previous six-month period, the company said.

"At a point in time when the explosion of streaming has transformed music from a discretionary consumer purchase to a utility purchase and new heights of consumption we have acquired amongst the most important songwriter, artist and producer catalogues of all time," Chief Executive Merck Mercuriadis said.

Shares were up 0.1% to 124.27 pence on Monday afternoon.

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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28 Mar 2024 11:26

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(Alliance News) - Hipgnosis Songs Fund Ltd on Thursday confirmed the valuation of its portfolio was in line with an earlier estimate, giving its shares a boost.

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Hipgnosis Songs Fund reduces net assets after accounting mishap

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday said it had identified an error in its latest operative net asset value calculation.

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4 Mar 2024 10:50

Hipgnosis Songs Fund payout to stay on halt as portfolio value slashed

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday said it will divert its free cashflow toward paying down debt and won't resume paying dividends "for the foreseeable future", as an independent study found a lower valuation for the company's portfolio.

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4 Mar 2024 09:52

Hipgnosis Songs Fund asset value falls on independent review

(Sharecast News) - Hipgnosis Songs Fund updated the market on ongoing strategic review on Monday, reporting a notable reduction in the company's fair value after a detailed report from Shot Tower Capital.

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4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

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26 Feb 2024 09:03

Hipgnosis Songs Fund plans to bring High Court claim against founder

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday said that it plans to bring a High Court claim against its founder, Merck Mercuriadis, after he refused to indemnify the company against liabilities.

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19 Feb 2024 10:17

Hipgnosis Songs Fund taking founder to court over indemnity

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday said that its request for an indemnity from its founder had been denied, prompting the company to pursue court action in pursuit of the full amount.

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7 Feb 2024 14:09

IN BRIEF: Hipgnosis Songs votes in favour of fee to potential bidders

Hipgnosis Songs Fund Ltd - London-based investor in music rights - Says 99.9% of shareholders vote in favour of a special resolution at its extraordinary general meeting. This was to enshrine payment of a fee, at the board's discretion, of up to GBP20 million to any prospective bidders who approach the board seeking to make an acquisition of Hipgnosis assets on terms recommendable to shareholders. The fee is intended to protect bidders against due diligence and acquisition costs so that they are "not deterred from seeking to engage with company" over a possible offer. Chair Robert Naylor says: "The board remains focused on the strategic review, under which it is looking at all options to deliver shareholder value. The board will update shareholders as to the outcome of due diligence in due course."

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Wednesday 7 February 
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eEnergy Group PLCGM re disposal of Energy Management division
Future PLCAGM
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Mosman Oil & Gas LtdEGM re director participation in placing
Premier Miton Group PLCAGM
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easyJet PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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5 Feb 2024 08:22

Hipgnosis Songs hires legal counsel to review claim against founder

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday said it has appointed solicitors to review the claim made against its founder Merck Mercuriadis, Hipgnosis Songs Management and the company by Hipgnosis Music Ltd.

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5 Feb 2024 07:16

Hipgnosis Songs Fund seeking indemnity from founder

(Sharecast News) - Hipgnosis Songs Fund said in an update on Monday that it was looking for indemnity from its founder amid a legal battle with Hipgnosis Music.

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