Director/PDMR Shareholding

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 Chair

 

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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.294 pence

Volume(s)

100,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

100,000

73.294 p

£73,294

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 /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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.65 pence

Volume(s)

50,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

50,000

73.65 p

£36,825

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 /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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.556 pence

Volume(s)

50,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

50,000

73.556 p

£36,779.75

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 /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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.497 pence

Volume(s)

50,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

50,000

73.497 p

£36,749.50

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

 

PCA of Francis Keeling, Non-Executive Director

 

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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.497 pence

Volume(s)

50,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

50,000

73.497 p

£36,749.50

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 /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

 

 

 

b)

 

Nature of the transaction

 

Purchase of Ordinary Shares

c)

 

Price(s) and volume(s)

 

Price(s)
73.426 pence

Volume(s)

27,000

d)

 

Aggregated information

- Aggregated volume

- Price

- Principal amount

 

 

27,000

73.426 p

£19,825.02

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

Giles Croot (Media)


+44 (0) 20 4542 1530

+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 £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.

 

 

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