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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: 100.80
Bid: 100.80
Ask: 101.00
Change: -0.20 (-0.20%)
Spread: 0.20 (0.198%)
Open: 101.20
High: 101.20
Low: 100.80
Prev. Close: 101.00
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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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TRADING UPDATES: Listing costs hobble Orcadian and ProCook earnings

Thu, 16th Dec 2021 19:18

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Artemis Alpha Trust PLC - investor in listed and unlisted companies - For the six months ended October 31, net asset value total return falls 5.4% compared to FTSE All-Share Index which rose 5.4%. Net asset value per share rises 27% year-on-year to 447.15 pence from 351.66p the same date a year prior. Declares interim dividend of 2.14 pence per share, up from 2.11p.

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Aberdeen New Dawn Investment Trust PLC - investor in companies in the Asia-Pacific region - Net asset value total return drops 0.7%, compared to MSCI Asia Pacific ex Japan Index, which fell 4.7%. NAV per share declines 1.6% over the six month period to 361.01 pence from 369.97p. Declares interim dividend of 1.00 pence per share, in line with year before.

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Kodal Minerals PLC- southern Mali and Ivory Coast-focused miner - For the six months ended September 30, pretax loss widens to GBP373,264 from GBP255,259 a year prior, driven by a rise in administrative costs and share-based payments. Generated no revenue during the period, as it continues to plan development and exploration programme for Bougouni project.

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RUA Life Sciences PLC - Glasgow-based medical devices using polymer technology and formerly known as AorTech International - For the six months ended September 30, pretax loss widens to GBP1.3 million from GBP622,000 due to higher administrative costs, in spite of revenue growing 12% year-on-year to GBP708,000 from GBP631,000, driven by contract manufacturing revenue growth.

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SME Credit Realisation Fund Ltd - credit investment - Net asset value per share as at September 30 increases to 93.27 pence from 88.87p at the end of March.

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Walker Crips Group PLC - London-based stockbroker and wealth manager - For the six months ended September 30, swings to pretax profit of GBP54,000 from loss of GBP451,000 the same period a year before, on revenue which grows 9.3% year-on-year to GBP15.7 million from GBP14.4 million, driven by a recovery seen in markets, lifting broking commissions and non-broking income. As at September 30, assets under management is up 5.9% over the six-month period to GBP3.6 billion from the end of March. Declares interim dividend of 0.30 pence per share, doubled from 0.15p a year prior.

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Agronomics Ltd - Isle of Man-based investor in cellular agriculture - For the year ended June 30, pretax profit increases to GBP1.0 million from GBP611,731 the year before, as investment income rose sharply to GBP10.7 million from GBP1.3 million.

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FRP Advisory Group PLC - London-based corporate finance, restructuring and debt adviser - For the six months ended October 31, pretax profit drops 19% to GBP5.7 million from GBP7.1 million the same period a year before, due to higher personnel and operating costs more than offsetting 25% year-on-year growth in revenue to GBP44.7 million from GBP35.9 million. Interim dividend remains flat at 1.6 pence per share. Looking ahead, company is well positioned for an increase in demand for services.

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ProCook Group PLC - Waterwells, Gloucester-based direct-to-consumer kitchenware retailer - For the 28 weeks ended October 17, pretax profit declines to GBP2.2 million from GBP4.0 million the same period a year before, due to advisory costs related to the initial public offering in November and higher operating expenses. This more than offset revenue which grew 34% year-on-year to GBP32.1 million from GBP23.9 million, led by a high performance in Retail due to a 50% increase in store opening times as stores begin to reopen.

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Schroder UK Mid Cap Fund PLC - mid-cap-focused investment firm - For the year ended September 30, net asset value total return is 41.8%, compared to the FTSE 250 ex Investment Trusts Index, which returned 40.9%. Net asset value per share as at September 30 increases 39% to 791.56 pence from 568.99p, driven by a recovery in the domestically-focused areas of the market. Declares final dividend of 11.0 pence per share, bringing the total payout to 14.80p, an 11% rise year-on-year.

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Orcadian Energy PLC - North Sea focused oil and gas development company - For the year ended September 30, pretax loss widens to GBP376,758 from GBP230,519 a year before, driven by GBP76,500 in listing costs and higher administrative expenses. Generated no revenue in line with the prior period.

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Cornish Metals Inc - Vancouver, Canada-based investment firm - For the nine months ended October 31, company's loss widens to CAD2.1 million from CAD1.5 million the same period a year before, as operating expenses increased considerably on higher professional fees, as well as regulatory and filing fees. Looking ahead, is planning to conduct a drilling programme at the United Down exploration project.

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Worsley Investors Ltd - investment firm - For the six months ended September 30, net asset value total return was 3.1%, compared to an 8.0% return from the FTSE All-Share Index and 12% return from the FTSE Real Estate Investment Trust Index. Net asset value per share rises 3.1% to 42.81 pence from 41.55p at the end of March.

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Hipgnosis Songs Fund Ltd - Guernsey-registered music intellectual property rights investor - For the six months ended September 30, swings to pretax loss of USD19.2 million from profit of USD13.0 million a year before, due to a USD52.1 million amortisation of catalogue of songs, up from USD24.1 million. This is on revenue which grows 35% year-on-year to USD85.3 million from USD63.3 million through the addition of new catalogue acquisitions. Over the period, operating net asset value per share rises 2.5% to USD1.72 from USD1.68 at the end of March. Company portfolio at the end of September comprises 146 catalogues at an aggregate value of USD2.55 billion. Declares interim dividend of 2.63 pence per share, up from 2.5p a year prior.

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Donegal Investment Group PLC - Donegal, Ireland-based agricultural firm - For the year ended August 31, pretax profit rises 14% to EUR1.6 million from EUR1.4 million the year before, on revenue which declines 7.8% year-on-year to EUR26.1 million from EUR28.3 million, as Covid-19 restrictions continued to hurt demand in the seed potato sector. Looking ahead, company remains "cautiously optimistic" on its performance for the 2021/22 season, and will continue to review all strategic options.

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By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
18 Apr 2024 07:49

LONDON BRIEFING: Embattled Hipgnosis Songs Fund agrees takeover

(Alliance News) - London's FTSE 100 is called to open higher on Thursday, shaking off a miserable session for US tech shares overnight.

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18 Apr 2024 07:41

Hipgnosis faces $1.4bn takeover by Concord Chorus

(Sharecast News) - Shares in troubled Hipgnosis Songs Fund rocketed by a third on Thursday after the music rights investor said it had agreed a $1.4bn takeover by US-based Concord Chorus, a music and theatrical rights firm, in attempt to end months of infighting over the company's leadership and secure its future.

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15 Apr 2024 09:26

IN BRIEF: Hipgnosis Songs Fund promotes Rampersaud to senior director

Hipgnosis Songs Fund Ltd - London-based music investment company - Promotes Non-Executive Director Cindy Rampersaud to senior independent director, effective from Friday last week. Rampersaud has been on the music royalty investor's board since August last year.

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28 Mar 2024 11:26

Hipgnosis Songs Fund shares up after confirmation of portfolio value

(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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18 Mar 2024 15:33

London close: Stocks slip ahead of central bank decisions

(Sharecast News) - London markets closed with a slight downturn on Monday as investors monitored upcoming rate decisions from a number of central banks.

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18 Mar 2024 14:16

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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18 Mar 2024 09:30

SMALL-CAP WINNERS & LOSERS: abrdn Property Income takeover heats up

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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4 Mar 2024 15:29

London close: Stocks languish ahead of Wednesday's Budget

(Sharecast News) - London's stock markets finished in the red on Monday, reflecting investor apprehension ahead of the impending Spring Budget.

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4 Mar 2024 11:52

LONDON MARKET MIDDAY: Stocks mostly lower ahead of UK Spring budget

(Alliance News) - Stock prices in London were mostly lower at midday Monday, as the week started off on a quiet note ahead of a busy week of monetary policy decisions and economic data from across the globe.

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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

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

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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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