REG - Hipgnosis Songs Fund - Director/PDMR Shareholding
20/11/2023 07:00
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RNS Number : 9070T Hipgnosis Songs Fund Limited 20 November 2023
LEI: 213800XJIPNDVKXMOC11
20 November 2023
Hipgnosis Songs Fund Limited
("Hipgnosis" or the "Company")
Notification of Transactions of Persons Discharging Managerial
Responsibilities (PDMRs)
The Company has been advised that each of the Directors of the Company, and
certain of their PCAs, have bought ordinary shares in the Company, improving
the alignment of the Directors with the Company's shareholders:
- Rob Naylor, Chair of the Company, has purchased 100,000 ordinary
shares;
- Sylvia Coleman, Non- Executive Director of the Company, has
purchased 50,000 ordinary shares;
- Simon Holden, Non- Executive Director of the Company, has
purchased 50,000 ordinary shares;
- Francis Keeling*, Non- Executive Director of the Company, has
purchased 100,000 ordinary shares;
- Cindy Rampersaud, Non- Executive Director of the Company, has
purchased 27,000 ordinary shares.
Following these purchases, Mr. Naylor holds 100,000 shares, Ms Coleman holds
111,201 shares, Mr. Holden holds 150,796, Mr. Keeling* holds 100,000 shares
and Ms Rampersaud holds 27,000 shares.
*Includes the dealings and holdings of Francis Keeling's wife, E Keeling.
Details of the transactions can be found in the Notification of Dealing Form
below.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Robert Naylor
2 Reason for the notification
a) Position/status Non-Executive Chair
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.294 pence
100,000
d) Aggregated information
- Aggregated volume 100,000
- Price 73.294 p
- Principal amount £73,294
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Sylvia Coleman
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.65 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.65 p
- Principal amount £36,825
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Simon Holden
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.556 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.556 p
- Principal amount £36,779.75
e) Date of the transaction 16 November 2023
f) Place of the transaction Off exchange (XOFF)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Francis Keeling
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.497 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.497 p
- Principal amount £36,749.50
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Emilie Keeling
2 Reason for the notification
a) Position/status PCA of Francis Keeling, Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.497 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.497 p
- Principal amount £36,749.50
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Cindy Rampersaud
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.426 pence
27,000
d) Aggregated information
- Aggregated volume 27,000
- Price 73.426 p
- Principal amount £19,825.02
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Simon Holden
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.556 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.556 p
- Principal amount £36,779.75
e) Date of the transaction 16 November 2023
f) Place of the transaction Off exchange (XOFF)
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Francis Keeling
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.497 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.497 p
- Principal amount £36,749.50
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Emilie Keeling
2 Reason for the notification
a) Position/status PCA of Francis Keeling, Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.497 pence
50,000
d) Aggregated information
- Aggregated volume 50,000
- Price 73.497 p
- Principal amount £36,749.50
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Cindy Rampersaud
2 Reason for the notification
a) Position/status Non-Executive Director
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hipgnosis Songs Fund Limited
b) LEI 213800XJIPNDVKXMOC11
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES
Identification code
b) Nature of the transaction Purchase of Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
73.426 pence
27,000
d) Aggregated information
- Aggregated volume 27,000
- Price 73.426 p
- Principal amount £19,825.02
e) Date of the transaction 16 November 2023
f) Place of the transaction London Stock Exchange, Main Market
For further information, please contact:
Hipgnosis Songs Fund Limited +44 (0) 20 7496 3000
Rob Naylor
via Singer Capital Markets
Hipgnosis Song Management +44 (0) 20 4542 1530
Merck Mercuriadis +44 (0) 20 4542 1511
Ben Katovsky
Giles Croot (Media)
Headland Consultancy - Financial PR +44 (0) 20 3805 4822
Susanna Voyle / 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)
Notes to Editors
About Hipgnosis Songs Fund
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered
investment company established to offer investors a pure-play exposure to
songs and associated musical intellectual property rights. The Company has
raised a total of almost £1.3 billion (gross equity capital) through its
Initial Public Offering on 11 July 2018, and subsequent issues in April
2019, August 2019, October 2019, July 2020, September 2020, February
2021 and July 2021. In September 2019, Hipgnosis transferred its entire
issued share capital to the Premium listing segment of the Official List of
the FCA and to the London Stock Exchange's Premium segment of the Main
Market, and in March 2020 became a constituent of the FTSE 250
Index. Since April 2021, the Company has been resident in the UK for tax
purposes and is recognised as an investment trust under applicable HMRC
regulations.
About Hipgnosis Song Management Limited
The Hipgnosis Songs Fund's Investment Adviser is Hipgnosis Song Management
Limited, which was founded by Merck Mercuriadis, former manager of globally
successful recording artists, such as Elton John, Guns N' Roses, Morrissey,
Iron Maiden and Beyoncé, and hit songwriters such as Diane Warren, Justin
Tranter and The-Dream, and former CEO of The Sanctuary Group plc. The
Investment Adviser has assembled an Advisory Board of highly successful
music industry experts which include award winning members of the artist,
songwriter, publishing, legal, financial, recorded music and music management
communities, all with in-depth knowledge of music publishing. Members
of Hipgnosis Song Management Limited Advisory Board include Nile Rodgers,
The-Dream, Giorgio Tuinfort, Starrah, David A. Stewart, Poo Bear, Bill
Leibowitz, Ian Montone and Rodney Jerkins.
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