RHM.L Regulatory News (RHM)

11 August 2021

ROUND HILL MUSIC ROYALTY FUND LIMITED

("RHM" or the "Company")

Acquisition of Music Catalogue

The Board of Round Hill Music Royalty Fund Limited is pleased to announce that the Company has acquired an interest in a music publishing catalogue from Yes guitarist and prolific film score composer, Trevor Rabin.

Key Acquisition Highlights:

· Catalogue of 3,528 film cues and songs covering tracks from across Rabin's expansive career as a song writer and film score composer;

· Rabin is a member of the Rock and Roll Hall of Fame as a member of Yes, selling over 20 million albums worldwide;

· Catalogue includes major hits as such Owner of a Lonely Heart, which reached Number 1 of Billboard Hot 100 in 1984;

· Catalogue also provides access to a highly valuable film score catalogue from varied genres across multiple decades;

· Rabin has had a prolific film composing career, working with major Hollywood producers and scored over 40 feature films;

· Poised to benefit from an improving outlook for film and TV-linked performance revenues;

· Revenue highly diversified by type and geography, offering exposure to a genuinely global audience.

Background to the Catalogue

Trevor Rabin is an influential musician, singer-songwriter, producer and film composer. He is best known for his role as the guitarist in Yes, the iconic English progressive rock band that rose to fame in the 1970s. In addition, Rabin is a prolific film score composer. His film score repertoire covers decades of work supporting a range of directors across multiple genres. The film scores are ideally placed to offer exposure to the improving outlook for film and TV-linked performance revenues. Rabin's considerable collection of accolades includes 11 BMI Awards. Rabin is also the author of important sports-related theme songs such as NBA on TNT and Inside the NBA.

Yes remains one of the most successful, enduring and influential progressive rock bands of all time with a discography spanning 21 studio albums. During his time with Yes, Rabin co-wrote many of the band's biggest hits from the 1980s including the 1984 No.1 hit, Owner of a Lonely Heart.

Catalogue Details

The catalogue of 3,528 film scores and songs covers tracks from across Rabin's expansive career as a musician, songwriter and producer and includes exposure to major hits from Yes, as well as tracks from his solo career.

Importantly, the catalogue includes a highly significant catalogue of hit film scores, principally from the 1990s and 2000s. The scores cover films including Armageddon, Enemy of the State, Bad Boys II, National Treasure, Coach Carter, The Great Raid, Glory Road, Remember The Titans and many more.

The catalogue is being acquired by funds managed by Round Hill (including the Company) of which RHM's interest represents 50%. The acquisition includes the publisher's share and writer's share of the relevant copyright interests, as well as administrative control enabling Round Hill to control the sync licensing of the catalogue rights.

Trevor Bowen, Chair of Round Hill Music Royalty Fund Limited commented:

"We are delighted to announce this first open market acquisition for the Company since its IPO, and this demonstrates Round Hill's ability to execute on its near-term pipeline of Copyrights. This catalogue acquisition ideally fits the Investment Manager's ten-year track record for delivering reliable long-term returns for investors by remaining disciplined asset managers, focused on acquiring proven Copyrights at attractive valuations. The Company's investment pipeline remains extensive with a number of near-term opportunities in exclusivity."

Josh Gruss, Chairman and CEO of Round Hill, the Company's investment manager commented:

"Trevor Rabin is an iconic songwriter who has authored major hits from his time with Yes, one of the most important progressive rock bands of the 1980s and 1990s, in addition to an irreplaceable portfolio of film score compositions spanning decades representing a lifetime of work from one of the masters of the genre. We believe this is a particularly attractive area in which to be increasing our exposure, as film and TV performance revenues continue to increase in value. It is an outstanding privilege to welcome his catalogue to the Company's portfolio."

Trevor Rabin commented:

"Round Hill is well known in our industry from their decade of stewardship in managing some of the most important music catalogues. I know my music will be in good hands with their leading team of industry professionals who are so passionate about this catalogue."

FOR FURTHER INFORMATION

 Notes: 

Unless the context otherwise requires, capitalised terms used in this announcement have the meanings in the Prospectus.

The Company is a non-cellular Guernsey company. The Company's Investment Objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. In order to achieve its Investment Objective, the Company will invest in a songwriter's copyright interest in a musical composition or song (being their writer's share, their publisher's share and their performance rights) together with the rights in the recording of the musical composition or song (known as the master recording rights) together with all such rights and assets considered by its investment manager, Round Hill Music LP ("Round Hill"), to be ancillary thereto. 

Founded in 2010, Round Hill is a fully integrated owner and operator of music copyright properties and the sixth largest music publishing company in the US. Headquartered in New York with additional offices in Nashville, Los Angeles and London, Round Hill has an experienced management and investment team with an established reputation and extensive experience in the music and finance industries.