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		[phone]
Hipgnosis Song Management Merck Mercuriadis Ben Katovsky Giles Croot (Media)		[phone] [phone]
Headland Consultancy - Financial PR Susanna Voyle / Charlie Twigg		[phone]
J.P. Morgan Cazenove - Sponsor, Financial Adviser and Corporate Broker William Simmonds / Jérémie Birnbaum (Corporate Finance)		[phone]
Singer Capital Markets - Corporate Broker James Moat / Angus Campbell (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)		[phone]
RBC Capital Markets - Corporate Broker Elliot Thomas / Max Avison (Corporate Finance)		[phone]

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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