REG - Hipgnosis Songs Fund - Litigation update

Hipgnosis Songs FundAnnouncement

26/02/2024 07:00

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RNS Number : 3552E  Hipgnosis Songs Fund Limited  26 February 2024

LEI: 213800XJIPNDVKXMOC11

 

26 February 2024

 

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

Litigation Update

The Company announced on 5 February 2024 that it is seeking to secure an
indemnity from Merck Mercuriadis and Hipgnosis Songs Management Limited (the
"Investment Adviser"), which is majority owned by funds managed and/or advised
by Blackstone, further to High Court proceedings being issued and served
upon Mr Mercuriadis, the Investment Adviser and the Company. The Company
further announced on 19 February 2024 that the Investment Adviser has refused
to give such an indemnity.

The Company has now been informed by Mr Mercuriadis that he is refusing to
indemnify the Company against liabilities which may arise from his alleged
misconduct.

The Company now intends to bring a Part 20 Claim in the High Court against
Mr Mercuriadis in which it will seek a full indemnity.

 

 For further information please contact:

Hipgnosis Songs Fund

                                   +44 (0) 20 7496 3000
 Robert Naylor

 Via Singer Capital Markets

 Singer Capital Markets - Corporate Broker                              +44 (0) 20 7496 3000

 James Moat / Alaina Wong / Angus Campbell (Corporate Finance)

 Alan Geeves / James Waterlow / Sam Greatrex (Sales)
 Headland Consultancy - Financial PR                                    +44 (0) 20 3805 4822

 Susanna Voyle / Charlie Twigg

This announcement contains inside information for the purposes of
the UK Market Abuse Regulation.

 

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