REG - Hipgnosis Songs Fund - Conclusion of Go-Shop process

Hipgnosis Songs FundAnnouncement

24/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231024:nRSX0375Ra&default-theme=true

RNS Number : 0375R  Hipgnosis Songs Fund Limited  24 October 2023

LEI: 213800XJIPNDVKXMOC11

Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")

Conclusion of Go-Shop process

24 October 2023

Following the announcement on 28 September 2023, the Board of Hipgnosis Songs
Fund Limited announces that, following substantive engagement with a number of
parties, it did not receive a Superior Offer as part of the Go-Shop process in
connection with the First Disposal.

The Company was in contact with 17 parties at the beginning of the Go-Shop,
with eight parties signing NDAs; one first round non-binding offer was
received, but did not subsequently result in a binding bid. The Board received
feedback through the process that a number of the parties assessed that they
could not justify paying a higher price than the offer from the Buyer for the
First Disposal.

The Board continues to recommend that Shareholders vote in favour of the
Continuation Resolution at the Annual General Meeting and in favour of the
First Disposal Resolution at the Extraordinary General Meeting.

Except as otherwise defined, capitalised terms in this announcement have the
meaning given to them in the Company's circular published on 28 September
2023.

 

For further information please contact:

 For Hipgnosis Songs Fund                                                  +44 (0) 20 4542 1530

 Andrew Sutch

 Headland Consultancy - Financial PR to Hipgnosis Songs Fund               +44 (0) 20 3805 4822

 Susanna Voyle / Del Jones / Charlie Twigg
 J.P. Morgan Cazenove - Sponsor, Financial Adviser and Corporate Broker    +44 (0) 20 3493 8000

 William Simmonds / Jérémie Birnbaum (Corporate Finance)
 Singer Capital Markets - Corporate Broker                                 +44 (0) 20 7496 3000

 James Moat / Angus Campbell (Corporate Finance)

 Alan Geeves / James Waterlow / Sam Greatrex (Sales)
 RBC Capital Markets - Corporate Broker                                    +44 (0) 20 7635 4000

 Elliot Thomas / Max Avison (Corporate Finance)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCMJBTTMTITTMJ