REG - Hipgnosis Songs Fund - Dividend Declaration

Hipgnosis Songs FundAnnouncement

21/09/2022 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:20220921:nRSU0624Aa&default-theme=true

RNS Number : 0624A  Hipgnosis Songs Fund Limited  21 September 2022

LEI: 213800XJIPNDVKXMOC11

 21 September 2022

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

Interim Dividend Announcement

and

Notice of Capital Markets Day

The Board of Hipgnosis Songs Fund Limited, the first UK listed investment
company offering investors a pure-play exposure to songs and associated
intellectual property rights, and its Investment Adviser, Hipgnosis Song
Management Limited are pleased to announce the Company's interim dividend (the
'Dividend') for the period from 1 April to 30 June 2022 in respect of the
Ordinary shares.

Consistent with the dividend timetable set out in the last Annual Report, the
Dividend of 1.3125 pence per Ordinary Share will be payable to Shareholders on
the register as at 30 September 2022 with an associated ex-dividend date of 29
September 2022 and a payment date of 28 October 2022.

There are positive tailwinds for the Company due to the decision of the US
Copyright Royalty Board (CRB) to confirm, and make retroactive, the CRB III
increase in mechanical streaming royalty rates for songwriters and publishers
between 2018 and 2022, and the anticipated refinance of the Company's credit
facilities, which is expected to be completed in October 2022. Accordingly the
Board continues to target paying an annual dividend of 5.25 pence per Ordinary
Share for the financial period to 31 March 2023.

In addition, the Company announces that its Investment Adviser will host a
Capital Markets Day following the publication of the interim results in early
December 2022.

Further details of the Capital Markets Day will be notified in due course.

For further information please contact:

 Hipgnosis Song Management

 Merck Mercuriadis

 Giles Croot (Media)                                            +44 (0)20 4542 1511

 Rufina Pavry (Investors)                                       +44 (0)20 4542 1530
 Singer Capital Markets - Joint Corporate Broker                +44 (0)20 7496 3000

 James Moat / James Maxwell / Alex Emslie (Corporate Finance)

 Alan Geeves / James Waterlow / Sam Greatrex (Sales)
 J.P. Morgan Cazenove - Joint Corporate Broker                  +44 (0)20 7742 4000

 William Simmonds / Jérémie Birnbaum (Corporate Finance)

 James Bouverat (Sales)
 RBC Capital Markets - Joint Corporate Broker                   +44 (0)20 7635 4000

 Elliot Thomas / Max Avison (Corporate Finance)

 Lisa Tugwell / Anastasia Mikhailova (Sales)
 Ocorian - Company Secretary & Administrator                    +44 (0) 28 9693 0222

 Lorna Zimny
 The Outside Organisation                                       +44 (0)7711 081 843

 Alan Edwards / Nick Caley
 FTI Consulting                                                 +44 (0)7771 978220; +44 (0)7809 411882; +44 (0)7761 332646

 Neil Doyle/ Paul Harris/ Laura Ewart
 All US music publicity enquiries                               +1 917 767 5255

 Fran Defeo

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.

 

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  DIVLMMLTMTATBPT