Hipgnosis Financial News

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.

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.

18.01 / 09:31

Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Hipgnosis tables proposal to offer up to £20m to prospective acquisition bidders

'The board believes the investment adviser's call option therefore depresses the potential value of the company by limiting certain possible opportunities for shareholder value creation.'

26.10 / 14:01

Investment trusts AGM Andrew Sutch Hipgnosis Two Hipgnosis directors resign ahead of AGM

The two directors had been targeted by activist investor Metage Capital, which last week published an open letter calling for a 'clean break' in the trust through the departure of senior leadership.

19.10 / 12:47

Investment trusts Blackstone Hipgnosis Songs Fund Hipgnosis Songs Andrew Sutch Hipgnosis Hipgnosis board launches strategic review as continuation vote approaches

The board had asked its current investment adviser to remove the call option entitling it to acquire the trust’s portfolio on termination, but it had declined.

16.10 / 08:07

Investment trusts Alternatives Hipgnosis Songs Fund dividend Hipgnosis Royalties Hipgnosis pulls dividend as expected retroactive royalties halve

Hipgnosis Songs fund CEO Merck Mercuriadis (pictured)

06.10 / 13:13

Lawsuit Investment trusts continuation vote Hipgnosis Songs Andrew Sutch Hipgnosis Hipgnosis Songs suspends senior executive sued for alleged sexual assault

MacPherson, CEO of Hipgnosis Songs Group, SONG’s publishing arm, was sued on Wednesday (4 October) in a Los Angeles court by Sara Lewis.

28.09 / 14:59

Investment trusts People moves Investment Trust Hipgnosis Songs Andrew Sutch Hipgnosis Hipgnosis Songs chair Andrew Sutch to step down as managers given ultimatum

Fellow board member Andrew Wilkinson and chair of the firm’s audit and risk management committee is also retiring at the end of this year.

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%.

11.09 / 10:45

Jefferies Investment trusts continuation vote Hipgnosis Songs Hipgnosis Jefferies: Potential Hipgnosis Songs bidders may be dissuaded by number of impediments

The Hipgnosis Songs fund is trading at a similar discount to RHM and is approaching its five-year continuation vote at the end of this month.

14.07 / 12:29

Investment trusts Hipgnosis Songs Fund Hipgnosis Songs Hipgnosis Investec reiterates 'Buy' recommendation for Hipgnosis Songs fund

The London-listed investment trust, which launched in 2018, is currently trading at a 54.5% discount, according to data from the Association of Investment Companies.

14.07 / 07:35

Jefferies Financial Times Investment trusts Hipgnosis Songs Hipgnosis Hipgnosis Songs considers strategic options ahead of September continuation vote

Hipgnosis Songs fund CEO Merck Mercuriadis said the current share price does not reflect the success of the investment strategy.

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