2nd Feb 2021 15:36
Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Identifies portfolio of catalogues to buy, consistent with its investment policy. The pipeline investments comprise the existing assets of Round Hill Fund One, a private fund whose investments are managed by Round Hill. The pipeline investments were independently valued with an aggregate valuation of USD363 million, and achieved a net publisher's share multiple of 16.2 times, on USD22.4 million of NPS for the trailing twelve months ending June 30, 2020. The catalogue has over 18,000 compositions and notes over 85% of the income generated by the portfolio were in respect of compositions written between 1950 and 2010.
The first investment includes copyrights from artists such as the Beatles, Marvin Gaye, Celine Dion, Rod Stewart, Phil Collins, James Brown, The Offspring, Kiss, Back Street Boys and Lady A.
Chair Trevor Bowen says: "I am delighted to announce the first acquisition of the company since its IPO, which comprises exceptional songs and catalogues including classic tracks from some of the world's best-known songwriters and artists. With the acquisition now complete, the company has deployed a significant proportion of the gross proceeds raised in its recent IPO and subsequent placing.
"The board remains totally committed to completing the acquisition of the second investment by the end of the first quarter of this year, thereby continuing to deliver the company's investment objective and policy. The board is pleased that the initial acquisition has been completed well within the anticipated timeline as outlined in the prospectus and looks forward to working with Round Hill to take advantage of the strong existing pipeline for the benefit of shareholders."
Current stock price: USD1.04
Year-to-date change: up 2.4%
By Paul McGowan; [email protected]
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