Hipgnosis Songs Fund Financial News

23.11 / 08:39

companies Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Music Limited takes SONG and Mercuriadis to High Court

Merck Mercuriadis (pictured), founder of Hipgnosis Songs fund (SONG), has been served court proceedings but his former company Hipgnosis Music Limited.

12.02 / 13:47

Investment trusts Hipgnosis Songs Fund song Hipgnosis Songs independent valuer Citrin Cooperman resigns after portfolio valuation row

SONG said it is working with its investment adviser, Hipgnosis Song Management (HSM), to run a formal process to appoint a new independent valuer.

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.'

21.12 / 12:21

Results Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Songs Hipgnosis narrowly avoids share suspension with publication of interim results

The total debt for the company stood at $674m as of 31 September, which represented 32.0% of operative NAV.

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.

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)

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%.

08.09 / 12:33

Jefferies Investment trusts Winterflood Hipgnosis Songs Fund Takeover Round Hill Music Royalty fund agrees to $470m takeover offer

The trust’s portfolio consists of 51 catalogues comprising over 150,000 songs by artists including Bruno Mars, Celine Dion, Louis Armstrong and The Supremes.

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.

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