Result of C Share Placing and Total Voting Rights

LEI: 213800752UO1CJTV8C39

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This announcement is released by Round Hill Music Royalty Fund Limited and contains inside information for the purposes of the UK version of the Market Abuse Regulation (EC No. 594/2014).

16 July 2021

ROUND HILL MUSIC ROYALTY FUND LIMITED

("RHM" or the "Company")

Result of C Share Placing and Total Voting Rights

The Board of Round Hill Music Royalty Fund Limited is pleased to announce that it has successfully raised gross proceeds of US$86.5 million pursuant to the placing of 86,500,000 million C Shares at an issue price of US$1.00 per C Share under the Placing Programme as detailed in the prospectus published by the Company on 19 October 2020 and the supplementary prospectus published on 3 November 2020 (together the "Prospectus") (the "C Share Offer").

The US$86.5 million significantly exceeds the target minimum capital raise of US$50 million. The Company intends to use the net proceeds of the C Share Offer together with the remaining undrawn balance of its existing revolving credit facility to assist in acquiring its near-term pipeline of Copyrights in line with RHM's Investment Policy, where due diligence is well advanced. The Board and Round Hill expect to deploy the net proceeds of the C Share Offer within three months from Admission (defined below).

Application has been made to the London Stock Exchange for the C Shares to be admitted to trading on the Specialist Fund Segment ("Admission"). It is expected that Admission will become effective and that unconditional dealings in these shares will commence at 8.00 a.m. on 20 July 2021.

Immediately following Admission, the total number of Ordinary Shares in issue will be 330,100,000 with voting rights. The total number of C Shares in issue will be 86,500,000 with voting rights. The total number of voting rights in the Company will be 416,600,000.

The above figures 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 Guidance and Transparency Rules.

Cenkos Securities plc ("Cenkos") acted as sole bookrunner and financial adviser to the Company.

FOR FURTHER INFORMATION

Notes: 

Unless the context otherwise requires, capitalised terms used in this announcement have the meanings in the Prospectus.

The Company is a non-cellular Guernsey company. The Company's Investment Objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. In order to achieve its Investment Objective the Company will invest in a songwriter's copyright interest in a musical composition or song (being their writer's share, their publisher's share and their performance rights) together with the rights in the recording of the musical composition or song (known as the master recording rights) together with all such rights and assets considered by its investment manager, Round Hill Music LP ("Round Hill"), to be ancillary thereto. 

Founded in 2010, Round Hill is a fully integrated owner and operator of music copyright properties and the sixth largest music publishing company in the US. Headquartered in New York with additional offices in Nashville, Los Angeles and London, Round Hill has an experienced management and investment team with an established reputation and extensive experience in the music and finance industries.