30th Dec 2019 07:00
30 December 2019
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Performance Fee and Total Voting Rights
The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, announce that 207,946 new Ordinary Shares (the "Performance Fee Shares") will be issued to the Investment Adviser in order to satisfy the performance fee in relation to the year ended 31 March 2019. The Performance Fee Shares are subject to a lock-up period of 18 months immediately following the relevant Payment Due Date, which in this case commences on 13 December 2019.
Application has been made for the new Ordinary Shares to be admitted 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 or around 6 January 2020.
Following Admission the Company will have 389,564,287 Ordinary Shares and 231,000,000 C Shares in issue, each with equal voting rights, and no shares in treasury. Therefore the total number of voting rights in the Company will be 620,564,287.
The above figure of 620,564,287 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest, in the Company under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
The Family (Music) Limited Merck Mercuriadis
| Tel: +44 (0)1481 742742 |
N+1 Singer - Joint Corporate Broker James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)
| Tel: +44 (0)20 7496 3000 |
J.P. Morgan Cazenove - Joint Corporate Broker William Simmonds / Ed Murray / Jérémie Birnbaum (Corporate Finance) James Bouverat / Eddie Nissen (Sales)
| Tel: +44 (0)20 7742 4000 |
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. The Company has raised a total of over £625 million (gross equity capital) through its Initial Public Offering on 11 July 2018, and subsequent issues in April 2019, August 2019 and October 2019. 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.
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 Stewart, Bill Leibowitz, Ian Montone, and Jason Flom.
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