Hipgnosis Songs Fund Limited Dividend Declaration (0624A)
September 21 2022 - 2:02AM
UK Regulatory
TIDMSONG
RNS Number : 0624A
Hipgnosis Songs Fund Limited
21 September 2022
LEI: 213800XJIPNDVKXMOC11
21 September 2022
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Interim Dividend Announcement
and
Notice of Capital Markets Day
The Board of Hipgnosis Songs Fund Limited, the first UK listed
investment company offering investors a pure-play exposure to songs
and associated intellectual property rights, and its Investment
Adviser, Hipgnosis Song Management Limited are pleased to announce
the Company's interim dividend (the 'Dividend') for the period from
1 April to 30 June 2022 in respect of the Ordinary shares.
Consistent with the dividend timetable set out in the last
Annual Report, the Dividend of 1.3125 pence per Ordinary Share will
be payable to Shareholders on the register as at 30 September 2022
with an associated ex-dividend date of 29 September 2022 and a
payment date of 28 October 2022.
There are positive tailwinds for the Company due to the decision
of the US Copyright Royalty Board (CRB) to confirm, and make
retroactive, the CRB III increase in mechanical streaming royalty
rates for songwriters and publishers between 2018 and 2022, and the
anticipated refinance of the Company's credit facilities, which is
expected to be completed in October 2022. Accordingly the Board
continues to target paying an annual dividend of 5.25 pence per
Ordinary Share for the financial period to 31 March 2023.
In addition, the Company announces that its Investment Adviser
will host a Capital Markets Day following the publication of the
interim results in early December 2022.
Further details of the Capital Markets Day will be notified in
due course.
For further information please contact:
Hipgnosis Song Management
Merck Mercuriadis
Giles Croot (Media) +44 (0)20 4542 1511
Rufina Pavry (Investors ) +44 (0)20 4542 1530
Singer Capital Markets - Joint Corporate
Broker
James Moat / James Maxwell / Alex Emslie
(Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales) +44 (0)20 7496 3000
J.P. Morgan Cazenove - Joint Corporate Broker
William Simmonds / Jérémie Birnbaum
(Corporate Finance)
James Bouverat (Sales) +44 (0)20 7742 4000
RBC Capital Markets - Joint Corporate Broker
Elliot Thomas / Max Avison (Corporate Finance)
Lisa Tugwell / Anastasia Mikhailova (Sales) +44 (0)20 7635 4000
Ocorian - Company Secretary & Administrator
Lorna Zimny +44 (0) 28 9693 0222
The Outside Organisation
Alan Edwards / Nick Caley +44 (0)7711 081 843
+44 (0)7771 978220;
FTI Consulting +44 (0)7809 411882;
Neil Doyle/ Paul Harris/ Laura Ewart +44 (0)7761 332646
All US music publicity enquiries
Fran Defeo +1 917 767 5255
About Hipgnosis Songs Fund
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 almost GBP1.3
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, February 2021 and July
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. Since April 2021, the Company has been resident in the
UK for tax purposes and is recognised as an investment trust under
applicable HMRC regulations.
About Hipgnosis Song Management Limited
The Hipgnosis Songs Fund's Investment Adviser is Hipgnosis Song
Management 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 Hipgnosis Song Management Limited Advisory
Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah,
David A. Stewart, Poo Bear, Bill Leibowitz, Ian Montone and Rodney
Jerkins.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVLMMLTMTATBPT
(END) Dow Jones Newswires
September 21, 2022 02:02 ET (06:02 GMT)
Hipgnosis Songs (LSE:SONG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hipgnosis Songs (LSE:SONG)
Historical Stock Chart
From Jul 2023 to Jul 2024