REG - Hipgnosis Songs Fund - Contemplation of Equity Raise
RNS Number : 5365HHipgnosis Songs Fund Limited04 December 2020NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE, OR TO ANY PERSON TO WHOM, TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAW OR REGULATION
4 December 2020
Hipgnosis Songs Fund Limited
("Hipgnosis" or the "Company")
Contemplation of Equity Raise
Following recent announcements confirming that the net proceeds of the July 2020 and September 2020 equity fundraises have been deployed into high quality and attractive Catalogues, the C Shares from the July 2020 fundraise have today been converted into Ordinary Shares.
The Board of Hipgnosis announces that its Investment Adviser, The Family (Music) Limited, continues to see attractive pricing on Catalogues of the finest quality and is in active discussions on a pipeline with an acquisition value of approximately £1 billion.
The Company is exploring the most appropriate way of funding further investments, including a potential equity raise, with a view to delivering further value for its shareholders.
A further announcement will follow in the New Year.
For further information, please contact:
The Family (Music) Limited
Merck Mercuriadis
Tel: +44 (0)1481 742742
N+1 Singer - Joint Corporate Broker
James Maxwell / James Moat / Amanda Gray (Corporate Finance)
Alan Geeves / James Waterlow / Sam Greatrex (Sales)
Tel: +44 (0)20 7496 3000
J.P. Morgan Cazenove - Joint Corporate Broker
William Simmonds / Jérémie Birnbaum (Corporate Finance)
James Bouverat (Sales)
Tel: +44 (0)20 7742 4000
RBC Capital Markets - Joint Corporate Broker
Will Smith / Elliot Thomas / Lauren Davies (Corporate Finance)
Lisa Tugwell (Sales)
Tel: +44 (0)20 7635 4000
Ocorian - Company Secretary & Administrator
Julian Carey
Tel: +44 (0) 1481 742742
The Outside Organisation
Alan Edwards / Nick Caley
Tel: +44 (0)7711 081 843
FTI Consulting
Neil Doyle/ Paul Harris/ Laura Ewart
Tel: +44 (0)7771 978220; +44 (0)7809 411882; +44 (0)7761 332646
All US music publicity enquiries
Fran Defeo
+1 917 767 5255
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
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 over £1.05 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 and September 2020. 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.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) 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 The Family (Music) Limited Advisory Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David A. Stewart, Bill Leibowitz, Ian Montone, Rodney Jerkins, Bjorn Lindvall and Chris Helm.
The information contained herein does not constitute or form a part of any offer to sell or issue, or the solicitation of any offer to purchase, subscribe for or otherwise acquire, any securities in the United States or in any jurisdiction where, or to any person to whom, such an offer or solicitation would be unlawful. The use and distribution of the information contained herein may be restricted by law in jurisdictions other than the United Kingdom. Potential users of the information contained herein are requested to inform themselves about and observe all applicable restrictions. The Company's shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold, resold, pledged, transferred or delivered, directly or indirectly, into or within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There has been and will be no public offer of the Company's shares in the United States.
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