Hipgnosis Songs Fund Limited Result of Equity Issue (1465X)
April 30 2021 - 2:00AM
UK Regulatory
TIDMSONG
RNS Number : 1465X
Hipgnosis Songs Fund Limited
30 April 2021
HIPGNOSIS SONGS FUND LIMITED
("Hipgnosis" or the "Company")
ISSUE OF EQUITY
On 29 April 2021 the Company issued 9,000,000 new Ordinary
Shares at a price of 119.5 pence per Ordinary Share; these shares
rank pari passu with the existing Ordinary Shares in issue. The
issue price equates to a premium to the Adjusted Operative NAV as
at 28 April 2021. The net proceeds will be used to fund an
investment in accordance with the Company's investment policy.
Admission and Total Voting Rights
Applications have been made for 9,000,000 new Ordinary Shares to
be admitted to the premium listing segment of the Official List and
to trading on the London Stock Exchange's main market for listed
securities ("Admission"). It is expected that Admission will become
effective and that dealings will commence at 8.00 a.m. on 5 May
2021.
Following Admission, the Company will have 1,082,440,268
Ordinary Shares in issue. The Company does not hold any Ordinary
Shares in treasury. Therefore, the total number of voting rights of
the Company will be 1,082,440,268 and this figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest, or a
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
For further information, please contact:
The Family (Music) Limited Tel: +44 (0)1481 742742
Merck Mercuriadis
N+1 Singer - Joint Corporate Broker Tel: +44 (0)20 7496
James Maxwell / James Moat / Amanda Gray 3000
(Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales)
J.P. Morgan Cazenove - Joint Corporate Tel: +44 (0)20 7742
Broker 4000
William Simmonds / Jérémie Birnbaum
(Corporate Finance)
James Bouverat (Sales)
RBC Capital Markets - Joint Corporate Tel: +44 (0)20 7635
Broker 4000
Elliot Thomas / Max Avison / Lauren Davies
(Corporate Finance)
Lisa Tugwell (Sales)
Ocorian - Company Secretary & Administrator Tel: +44 (0) 28 9693
Lorna Zimny 0222
The Outside Organisation Tel: +44 (0)7711 081
Alan Edwards / Nick Caley 843
FTI Consulting Tel: +44 (0)7771 978220;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7809 411882;
+44 (0)7761 332646
All US music publicity enquiries Tel: +1 917 767 5255
Fran Defeo
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. The Company has raised a total of over GBP1.1
billion (gross equity capital) through its Initial Public Offering
on 11 July 2018, and subsequent issues in April 2019, August 2019,
October 2019, July 2020, September 2020 and February 2021. In
September 2019, Hipgnosis transferred its entire issued share
capital to the Premium listing segment of the Official List of the
FCA and to the London Stock Exchange's Premium segment of the Main
Market, and in March 2020 became a constituent of the FTSE 250
Index. As of 1 April 2021, the Company is treated as being resident
in the UK for tax purposes and is recognised as an investment trust
under applicable HMRC regulations.
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, Starrah, Nick Jarjour, David
A. Stewart, Bill Leibowitz, Ian Montone, Rodney Jerkins, Bjorn
Lindvall and Chris Helm.
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