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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: 102.00
Bid: 102.00
Ask: 102.20
Change: 0.00 (0.00%)
Spread: 0.20 (0.196%)
Open: 102.00
High: 102.20
Low: 101.80
Prev. Close: 102.00
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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 Songs Fund plans to bring High Court claim against founder

Mon, 26th Feb 2024 09:03

(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.

Hipgnosis is a London-based music investment and song management company with a market cap of GBP772.7 million.

Early in February, Hipgnosis said that it was seeking an indemnity against liabilities stemming from alleged misconduct by Mercuriadis and Hipgnosis Songs Management Ltd, the investment adviser owned by funds managed or advised by Blackstone Inc.

The investment adviser, founded by Mercuriadis who sits on its board of directors, has refused to indemnify the company, despite assuring it that the allegations are without merit.

On Monday, Hipgnosis said that it has now been been informed by Mercuriadis that he is refusing to indemnify the company against liabilities which may arise from his alleged misconduct. As a result, the firm is now planning to bring a part 20 claim in the High Court against Mercuriadis, in which it will seek a full indemnity.

Hipgnosis Songs Fund shares were trading 1.4% higher at 64.50 pence each in London on Monday morning.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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9 May 2024 11:49

TOP NEWS: Blackstone victorious as Concord says Hipgnosis bid is final

(Alliance News) - Concord Chorus Ltd on Thursday said it will not raise its bid for Hipgnosis Songs Fund Ltd, handing victory to Blackstone Inc in its pursuit of the music rights investor.

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9 May 2024 11:02

Blackstone set to clinch Hipgnosis Songs as Concord sticks with lower bid

May 9 (Reuters) - Blackstone looked set to clinch its $1.57 billion deal for Hipgnosis Songs Fund after Apollo-backed Concord said on Thursday it would stick with its lower bid for the music rights owner of artists such as Shakira and Red Hot Chili Peppers.

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9 May 2024 08:13

Blackstone leads Hipgnosis race as Concord says bid is final

(Sharecast News) - Private equity giant Blackstone appeared to have emerged as the winner in the race to buy troubled music rights owner Hipgnosis Songs Fund after Apollo-backed Concord said its latest $1.25-a-share offer was final.

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29 Apr 2024 15:08

London close: Stocks manage to finish above the waterline

(Sharecast News) - London markets showed resilience on Monday, finishing in the green as investors looked to the start of the US Federal Reserve's policy meeting.

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29 Apr 2024 12:03

LONDON MARKET MIDDAY: Outperforming FTSE 100 spikes to another record

(Alliance News) - London's FTSE 100 was higher heading into Monday afternoon, though trade was more cautious in mainland Europe, as focus turns to this week's Federal Reserve interest rate decision.

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29 Apr 2024 08:54

TOP NEWS: Hipgnosis Songs backs new bid as Blackstone eclipses Concord

(Alliance News) - Hipgnosis Songs Fund Ltd on Monday backed a USD1.57 billion takeover offer from Blackstone Inc, trumping a previous offer from Concord Chorus Ltd, as the pursuit for the music rights publisher took another twist.

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29 Apr 2024 08:54

LONDON MARKET OPEN: Solid start to week for record-setting FTSE 100

(Alliance News) - Stocks in London opened at a record high on Monday, as a key week for equities got off to a solid start.

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29 Apr 2024 08:31

Blackstone beats Concord with $1.6 bln bid for Hipgnosis Songs

Concord had earlier outbid Blackstone

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29 Apr 2024 07:50

LONDON BRIEFING: Hipgnosis Songs Fund backs new Blackstone bid

(Alliance News) - London's FTSE 100 is called to open higher on Monday, with heady gains for US tech stocks on Friday brightening the mood in Europe and Asia at the start of the new week.

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29 Apr 2024 07:02

Blackstone ups bid for Hipgnosis with $1.57bn offer

(Sharecast News) - Music rights owner Hipgnosis said it it agreed terms on a $1.57bn (£1.26bn) takeover by private equity investor Blackstone, in the latest tit-for-tat battle with rival Concord.

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28 Apr 2024 15:47

Blackstone to make improved bid for Hipgnosis, Sky News reports

April 28 (Reuters) - Private equity giant Blackstone is preparing to lodge an improved bid for Hipgnosis Songs Fund which owns the music rights of artists including Shakira and Blondie, Sky News reported on Sunday.

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28 Apr 2024 15:06

Blackstone to make improved bid for Hipgnosis, Sky News reports

April 28 (Reuters) - Private equity giant Blackstone is preparing to lodge an improved bid for Hipgnosis Songs Fund which owns the music rights of artists including Shakira and Blondie, Sky News reported on Sunday. (Reporting by Akanksha Khushi in Bengaluru; Editing by Alexandra Hudson)

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24 Apr 2024 19:33

TOP NEWS: Concord looks to thwart Blackstone with raised Hipgnosis bid

(Alliance News) - Hipgnosis Songs Fund Ltd on Wednesday said it had reached an agreement on the terms of an increased takeover offer from music rights acquirer Alchemy Copyrights, which trades as Concord Chorus Ltd.

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24 Apr 2024 09:02

LONDON BROKER RATINGS: Investec cuts Hipgnosis Songs Fund to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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