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Pin to quick picksHipgnosis Song. Regulatory News (SONG)

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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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Portfolio Update

1 Apr 2019 07:00

RNS Number : 5825U
Hipgnosis Songs Fund Limited
01 April 2019
 

1 April 2019

Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")

Portfolio Update

The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that, since IPO, the Company has acquired, or entered into exclusivity agreements to acquire, catalogues with a total value of £234.1 million, which represents an aggregate multiple of 12.63x historic annual net income.

In addition to the above, the Investment Adviser has identified a number of further significant catalogues for potential acquisition, details of which will be announced upon completion.

The Company is contemplating an equity raise in Q2 of 2019 to fund investments in line with its investment policy, with a view to delivering further value for its shareholders. A further announcement will follow in due course.

Note: This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014 (MAR).

For further information, please contact:

The Family (Music) Limited

Merck Mercuriadis

 

Tel: +44 (0)1481 742742

N+1 Singer

James Maxwell / James Moat (Corporate Finance)

Alan Geeves / James Waterlow / Sam Greatrex (Sales)

 

Tel: +44 (0)20 7496 3000

The Outside Organisation

Alan Edwards / Nick Caley

Tel: +44 (0)7711 081 843

 

NOTES TO EDITORS

About Hipgnosis Songs Fund Limited

(www.hipgnosissongs.com)

Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. In its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange's main market on 11 July 2018, the Company raised approximately £200m gross equity capital.

About The Family (Music) Limited

The Company's Investment Adviser is The Family (Music) Limited, which was founded by Merck Mercuriadis, former manager of globally successful recording artists, such as Elton John, Guns N' Roses, Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as Diane Warren, Justin Tranter and The-Dream, and former CEO of The Sanctuary Group plc. The Investment Adviser has assembled an Advisory Board of highly successful music industry experts which include award winning members of the artist, songwriter, publishing, legal, financial, recorded music and music management communities, all with in-depth knowledge of music publishing. Members of The Family (Music) Limited Advisory Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Bill Leibowitz, Ian Montone, and Jason Flom.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Date   Source Headline
19th Apr 20243:36 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20243:33 pmRNSForm 8.3 - Hipgnosis Song Fund Limited
19th Apr 20243:25 pmEQSThe Vanguard Group, Inc.: Hipgnosis Songs Fund Limited
19th Apr 20243:20 pmRNSForm 8.3 - HIPGNOSIS SONGS FUND LTD
19th Apr 20243:20 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20243:05 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20243:00 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20242:56 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20242:51 pmRNSForm 8.3 - HIPGNOSIS SONGS FUND LTD
19th Apr 20241:35 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 20241:05 pmGNWForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 202412:29 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 202412:02 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 202411:38 amRNSForm 8.5 (EPT/NON-RI)-Hipgnosis Songs Fund Limited
19th Apr 202411:30 amRNSForm 8.5 (EPT/RI)-Hipgnosis Songs Fund Limited
19th Apr 202411:20 amRNSForm 8.3 - Hipgnosis Songs Fund Limited
19th Apr 202410:38 amRNSForm 8.5 (EPT/RI)
19th Apr 202410:38 amRNSForm 8.3 - Hipgnosis Songs Fund Limited
18th Apr 20243:40 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
18th Apr 20241:17 pmRNSForm 8.3 - Hipgnosis Songs Fund Limited
18th Apr 202411:14 amRNSForm 8.3 - Hipgnosis Songs Fund Limited
18th Apr 202410:26 amRNSForm 8.3 - Hipgnosis Songs Fund Limited
18th Apr 20247:00 amRNSRECOMMENDED CASH OFFER FOR HIPGNOSIS
15th Apr 20247:00 amRNSChange to Director roles and responsibilities
28th Mar 20249:02 amRNSFinal Due Diligence Findings
18th Mar 20247:00 amRNSAmendment to Operative Net Asset Value
4th Mar 20249:27 amRNSUpdate on Due Diligence, Valuation and NAV
4th Mar 20247:00 amRNSUpdate on Due Diligence, Valuation and NAV
26th Feb 20247:00 amRNSLitigation update
19th Feb 20247:00 amRNSLitigation Update
7th Feb 202412:35 pmRNSResult of Extraordinary General Meeting (“EGM”)
5th Feb 20247:00 amRNSLitigation Update
23rd Jan 20247:00 amRNSPublication of Circular/Update to Strategic Review
18th Jan 20247:00 amRNSProposed Change to Articles of the Company
11th Jan 20247:00 amRNSDirectorate Change
4th Jan 20243:26 pmRNSHolding(s) in Company
21st Dec 20237:00 amRNSInterim results to 30 September 2023
20th Dec 20237:00 amRNSChange of Auditor
19th Dec 20237:00 amRNSDelay to publication of interim results
15th Dec 20237:00 amRNSDirectorate Change
11th Dec 20237:00 amRNSAsset sale, adviser appointment, notice of results
28th Nov 202312:52 pmRNSHolding(s) in Company
23rd Nov 20237:00 amRNSStrategic Review and Company Update
20th Nov 20237:00 amRNSDirector/PDMR Shareholding
7th Nov 20237:00 amRNSDirectorate Changes
6th Nov 20237:00 amRNSUpdate on dividend intentions
26th Oct 202311:20 amRNSResult of AGM and EGM
25th Oct 20234:00 pmRNSDirectorate Changes, withdrawal of AGM Resolutions
24th Oct 20237:00 amRNSConclusion of Go-Shop process
19th Oct 20237:00 amRNSInitiation of Strategic Review, update on RCF

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