Round Hill Music - Annual Financial Report
28/04/2022 07:00
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RNS Number : 6174J Round Hill Music Royalty Fund Ltd 28 April 2022
This announcement contains inside information for purposes of Article 7 of the
UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended ("MAR")
28 April 2022
Round Hill Music Royalty Fund Limited
(the "Company")
Registration number: 68002
Legal Entity Identifier: 213800752UO1CJTV8C39
Annual Report
For the period from incorporation to 31 December 2021
The Board of Round Hill Music Royalty Fund Limited, a London Stock Exchange
listed investment company that aims to provide investors with an attractive
level of regular and growing income and capital returns from investment
primarily in high quality, music intellectual property, is pleased to report
the Company's maiden annual results for the period from incorporation to 31
December 2021 (the "Annual Report").
To view the Company's annual financial report please follow the link to the
Company's website https://www.roundhillmusicroyaltyfund.com/
(https://www.roundhillmusicroyaltyfund.com/)
Company highlights as at 31 December 2021
· Successful IPO in November 2020 raising gross proceeds of US$282.0
million
· Further successful fundraising of US$46.6 million in December 2020
and an additional US$86.5 million in July 2021 via a C Share placing
· Deployed c.US$400 million across 49 Catalogues, consisting of 122,000
songs
· Economic NAV at the period end of US$459.7million
· Economic NAV total return for holders of Ordinary Shares of 17.6%(1)
· Economic NAV total return for holders of C Shares of 5.1%(1)
· Net revenue generated was US$23.7 million
· Total dividend per Ordinary Share in respect of the period,
US$0.045(2)
In accordance with Listing Rule 9.6.1 copies of the documents will be
submitted to the UK Listing Authority and will shortly be available for
inspection from the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
(1)( )Alternative Performance Measures are defined in the Alternative
Performance Measures section.
(2 )Includes a payment for the period from 1 October 2021 to 31 December 2021
made post year end.
Trevor Bowen, Chair of Round Hill Music Royalty Fund Limited, commented:
"On behalf of the Board, I am pleased to announce the Company's inaugural set
of audited consolidated financial results for the period from incorporation to
31 December 2021. The Company has had an active and successful period since
its Initial Admission. The Investment Manager has worked diligently to invest
and commit the proceeds raised at IPO and subsequent fundraises into a variety
of music rights in high quality Catalogues across genres, vintages, and income
composition. The Board is delighted to see that the Investment Manager's team
is executing the Company's investment strategy and delivering attractive total
returns to Shareholders. Finally, I would like to thank our Shareholders, my
Co-Directors, our Investment Manager and our many partners for their continued
support."
Analyst presentation
There will be a presentation for sell side analysts at 14.00pm (UK time)
today, Thursday 28 April 2022.
Please contact Buchanan for details at roundhillmusic@buchanan.uk.com.
Capital markets day
The Investment Manager will host a virtual capital markets day at 14.00pm (UK
time), Tuesday 3 May 2022.
To register, please contact Buchanan for details at
roundhillmusic@buchanan.uk.com.
For further information, please contact:
Round Hill Music LP
Josh Gruss, Founder and CEO via Buchanan below
Steve Clark, COO
Cenkos
Sales:
Justin Zawoda-Martin +44 20 7397 1923
Daniel Balabanoff +44 20 7397 1909
Andrew Worne +44 20 7397 1912
Corporate:
James King +44 20 7397 1913
Will Talkington +44 20 7397 1910
Buchanan
Charles Ryland +44 20 7466 5107
Henry Wilson +44 20 7466 5111
Hannah Ratcliff +44 20 7466 5102
JTC
Mariana Enevoldsen +44 1481 702 485
Notes:
Terms defined in the prospectus published by the Company on 19 October 2020
and the supplementary prospectus published on 3 November 2020 (together the
"Prospectus") shall have the same meaning when used in this announcement.
The Company is a non-cellular Guernsey company. The Company's Investment
Objective is to provide investors with an attractive level of regular and
growing income and capital returns from investment primarily in high quality,
music intellectual property. In order to achieve its Investment Objective the
Company will invest in a songwriter's copyright interest in a musical
composition or song (being their writer's share, their publisher's share and
their performance rights) together with the rights in the recording of the
musical composition or song (known as the master recording rights) together
with all such rights and assets considered by its investment manager, Round
Hill Music LP, to be ancillary thereto.
Founded in 2010, Round Hill is a fully integrated owner and operator of music
copyright properties and the sixth largest music publishing company in the US.
Headquartered in New York with additional offices in Nashville, Los
Angeles and London, Round Hill has an experienced management and investment
team with an established reputation and extensive experience in the music and
finance industries.
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