TIDMSONG
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 C hair
---------------------------------- -----------------------------------------
b) Initial notification Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP73,294
---------------------------------- -----------------------------------------
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 Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP36,825
---------------------------------- -----------------------------------------
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 Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP36,779.75
---------------------------------- -----------------------------------------
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 Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP36,749.50
---------------------------------- -----------------------------------------
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 P CA of Francis Keeling, Non-Executive
Director
---------------------------------- -----------------------------------------
b) Initial notification Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP36,749.50
---------------------------------- -----------------------------------------
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 Initial Notification
/Amendment
---------------------------------- -----------------------------------------
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 HIPGNOSIS SONGS FUND LIMITED, ORDINARY
instrument, type of SHARES
instrument
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 GBP19,825.02
---------------------------------- -----------------------------------------
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
Rob Naylor
via Singer Capital Markets +44 (0) 20 7496 3000
Hipgnosis Song Management
Merck Mercuriadis
Ben Katovsky +44 (0) 20 4542 1530
Giles Croot (Media) +44 (0) 20 4542 1511
Headland Consultancy - Financial PR
Susanna Voyle / Charlie Twigg +44 (0) 20 3805 4822
J.P. Morgan Cazenove - Sponsor, Financial
Adviser and Corporate Broker
William Simmonds / Jérémie
Birnbaum (Corporate Finance) +44 (0) 20 3493 8000
Singer Capital Markets - Corporate
Broker
James Moat / Angus Campbell (Corporate
Finance)
Alan Geeves / James Waterlow / Sam Greatrex
(Sales) +44 (0) 20 7496 3000
RBC Capital Markets - Corporate Broker
Elliot Thomas / Max Avison (Corporate
Finance) +44 (0) 20 7635 4000
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 GBP1.3
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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END
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