Director's Dealing • Apr 17, 2019
Director's Dealing
Open in ViewerOpens in native device viewer
National Storage Mechanism | Additional information
RNS Number : 5310W
Hipgnosis Songs Fund Limited
17 April 2019
17 April 2019
Hipgnosis Songs Fund Limited
("Hipgnosis" or the "Company")
Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs)
The Company announces that, it has been advised that, certain Directors of the Company have acquired ordinary shares in the Company ("Ordinary Shares") under the Placing, at a price of 102 pence per share, as announced on 12 April 2019.
Details of the Directors who participated in the Placing are as follows:
| Director | Number of Ordinary Shares acquired | Total interest in Ordinary Shares following this notification |
| Simon Holden | 20,000 | 35,000 |
| Andrew Wilkinson | 10,000 | 25,000 |
| Paul Burger | 7,500 | 22,500 |
In addition, certain management and employees of the Investment Adviser, The Family (Music) Limited, acquired Ordinary Shares under the Placing, at a price of 102 pence per share, including Merck Mercuriadis, CEO of the Investment Adviser, who acquired 100,000 Ordinary Shares.
Unless otherwise defined, capitalised terms in this announcement shall have the meaning given to them in the Prospectus.
Details of the transaction can be found in the Notification of Dealing Form below.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Simon Holden | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director of the Company | |
| b) | Initial notification /Amendment | Initial Notification | |
| 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 instrument, type of instrument Identification code |
HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES GG00BFYT9H72 |
|
| b) | Nature of the transaction | Purchase of Ordinary Shares | |
| c) | Price(s) and volume(s) | Price(s) £1.02 |
Volume(s) 20,000 |
| d) | Aggregated information - Aggregated volume - Price - Principal amount |
20,000 £1.02 £20,400 |
|
| e) | Date of the transaction | 17 April 2019 | |
| f) | Place of the transaction | London Stock Exchange, Specialist Fund Segment | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Paul Burger | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director of the Company | |
| b) | Initial notification /Amendment | Initial Notification | |
| 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 instrument, type of instrument Identification code |
HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES GG00BFYT9H72 |
|
| b) | Nature of the transaction | Purchase of Ordinary Shares | |
| c) | Price(s) and volume(s) | Price(s) £1.02 |
Volume(s) 7,500 |
| d) | Aggregated information - Aggregated volume - Price - Principal amount |
7,500 £1.02 £7,650 |
|
| e) | Date of the transaction | 17 April 2019 | |
| f) | Place of the transaction | London Stock Exchange, Specialist Fund Segment | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Andrew Wilkinson | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director of the Company | |
| b) | Initial notification /Amendment | Initial Notification | |
| 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 instrument, type of instrument Identification code |
HIPGNOSIS SONGS FUND LIMITED, ORDINARY SHARES GG00BFYT9H72 |
|
| b) | Nature of the transaction | Purchase of Ordinary Shares | |
| c) | Price(s) and volume(s) | Price(s) £1.02 |
Volume(s) 10,000 |
| d) | Aggregated information - Aggregated volume - Price - Principal amount |
10,000 £1.02 £10,200 |
|
| e) | Date of the transaction | 17 April 2019 | |
| f) | Place of the transaction | London Stock Exchange, Specialist Fund Segment |
For further information, please contact:
| The Family (Music) Limited Merck Mercuriadis |
Tel: +44 (0)1481 742742 |
| N+1 Singer James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales) |
Tel: +44 (0)20 7496 3000 |
| The Outside Organisation Alan Edwards / Nick Caley |
Tel: +44 (0)207 436 3633 |
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. In its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange's main market on 11 July 2018, the Company raised approximately £200m gross equity capital. In its Subsequent Placing under its Placing Programme on 12 April 2019, the Company raised approximately £140m of further equity capital.
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, Bill Leibowitz, Ian Montone and Jason Flom.
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 [email protected] or visit www.rns.com.
END
DSHBXGDSDUBBGCR
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.