26th Feb 2024 07:00
RNS Number : 3552E
Hipgnosis Songs Fund Limited
26 February 2024
LEI: 213800XJIPNDVKXMOC11
26 February 2024
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Litigation Update
The Company announced on 5 February 2024 that it is seeking to secure an indemnity from Merck Mercuriadis and Hipgnosis Songs Management Limited (the "Investment Adviser"), which is majority owned by funds managed and/or advised by Blackstone, further to High Court proceedings being issued and served upon Mr Mercuriadis, the Investment Adviser and the Company. The Company further announced on 19 February 2024 that the Investment Adviser has refused to give such an indemnity.
The Company has now been informed by Mr Mercuriadis that he is refusing to indemnify the Company against liabilities which may arise from his alleged misconduct.
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The Company now intends to bring a Part 20 Claim in the High Court against Mr Mercuriadis in which it will seek a full indemnity.
For further information please contact:Hipgnosis Songs Fund Robert Naylor Via Singer Capital Markets |
| +44 (0) 20 7496 3000 | Singer Capital Markets - Corporate Broker James Moat / Alaina Wong / Angus Campbell (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales) |
| +44 (0) 20 7496 3000 | Headland Consultancy - Financial PR Susanna Voyle / Charlie Twigg |
| +44 (0) 20 3805 4822 |
|
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