City Song Financial News

23.01 / 09:33

Investment trusts Blackstone Hipgnosis Songs Fund Hipgnosis Option Hipgnosis rejects board's request to scrap 'material conflict of interest' call option

The call option has been at the centre of recent arguments, with the board offering a special resolution to try and temper the 'material conflict of interest' that acts as a 'significant deterrent' to potential offerors.

19.12 / 10:56

Investment trusts Blackstone Hipgnosis Songs valuations valuation Hipgnosis Songs delays publication of half-year results over valuation concerns

Hipgnosis Songs said it expects to publish the interim results by the end of December 2023. If it does not, it faces the risk of share suspension.

11.12 / 09:33

Investment trusts Blackstone Hipgnosis Songs Fund Investment Trust Hipgnosis Songs Hipgnosis Songs Fund completes $23m sale of 'non-core' songs at 14% discount

SONG sold approximately 20,000 songs for $23.1m, representing around 1% of the trust’s value, according to an RNS notice.

24.10 / 08:35

Investment trusts continuation vote Hipgnosis Songs Hipgnosis Hipgnosis Songs fails to attract superior offer for music catalogue sale

The $440m sale of the trust’s first portfolio, announced on 14 September, had a 40-day «go-shop» provision, where other potential buyers could put forward alternative offers.

16.10 / 12:19

Investment trusts Blackstone Investec Continuation resolution Hipgnosis Songs Asset Value Investors urges Hipgnosis shareholders to vote against continuation

This morning, Hipgnosis Songs fund announced it would withdraw its proposed interim dividend.

15.09 / 12:25

Investment trusts continuation vote Blackstone Investec Hipgnosis Songs Hipgnosis Backed Investec downgrades Hipgnosis Songs to 'Hold' after catalogue sale to Blackstone-backed fund

In an environment where investment company corporate governance is “under the microscope”, the analysts said the board “has fallen short here”.

15.09 / 11:45

Investment trusts continuation vote Blackstone Hipgnosis Songs Fund share buybacks Hipgnosis Hipgnosis Songs music catalogue sale comes under scrutiny as continuation vote looms

The response to the proposals from shareholders has so far been lukewarm, with the trust’s share price up less than 0.3%.

14.09 / 11:09

Investment trusts continuation vote Hipgnosis Songs Fund Concord Hipgnosis Hipgnosis agrees $465m catalogue sale from public trust to private Blackstone vehicle

The purchase price of the sale of catalogues to Hipgnosis Songs Capital realises a total return of 44%.

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