Dividend Declaration

Round Hill Music Royalty Fund Ltd

12 October 2023

 

12 October 2023

ROUND HILL MUSIC ROYALTY FUND LIMITED

(the "Company")

Registration number 68002

Legal Entity Identifier: 213800752UO1CJTV8C39

Special Dividend

On 8 September 2023, the board of directors of each of Round Hill Music Royalty Fund Limited (the "Company" or "RHM") and Alchemy Copyrights, LLC, trading as Concord ("Concord") announced that they had reached agreement on the terms of a recommended cash offer pursuant to which Concord Bidco, a wholly-owned subsidiary of Concord, will acquire the entire issued and to be issued share capital of RHM (the "Acquisition"). The Acquisition is intended to be effected by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law (the "Scheme").

As noted in the Scheme Document published by the Company on 25 September 2023 in connection with the Acquisition (the "Scheme Document"), the Company is pleased to announce that the Board of Directors has declared a special dividend of US$0.005 per RHM Share for the quarter ended 30 September 2023 (the "Special Dividend").

The Special Dividend is in addition to the quarterly dividend of US$0.01125 per RHM Share paid in respect of the quarter ended 30 June 2023 which has already been received by Shareholders (as announced on 31 August 2023).

The Company has elected, under the provisions of UK Statutory Instrument 2009/2034, to designate all of the dividend for the 3 month period to 30 September 2023 (including the Special Dividend) as an interest distribution to RHM Shareholders.

The dividend will be paid gross on 27 October 2023 to holders of RHM Shares of record on 20 October 2023. The ex-dividend date is 19 October 2023.

Capitalised terms used but not otherwise defined in this announcement (the "Announcement") have the meanings given to them in the Scheme Document.

FOR FURTHER INFORMATION

Round Hill

Josh Gruss, Founder and CEO                          Via Fourth Pillar below

Steve Clark, COO

Cavendish

Sales:

Justin Zawoda-Martin                                         [phone]

Daniel Balabanoff                                             [phone]

Andrew Worne                                                   [phone]

Corporate:

James King                                                       [phone]

Will Talkington                                                   [phone]

Fourth Pillar (Financial PR)

Claire Turvey                                                     [phone] / [e-mail]

Lynne Best                                                        [phone] / [e-mail]

Tomas Nevrkla                                                  [phone] / [e-mail]

JTC

Mariana Enevoldsen                                          [phone]

Important notices

Cavendish Securities PLC (formerly Cenkos Securities PLC) ("Cavendish") which is authorised and regulated in the United Kingdom by the FCA, is acting as Rule 3 financial adviser, financial adviser and corporate broker exclusively to RHM and no one else in connection with the Acquisition and the matters set out in this Announcement and shall not be responsible to anyone other than RHM for providing the protections afforded to clients of Cavendish, nor for providing advice in connection with the Acquisition or any matter referred to herein. Neither Cavendish nor any of its subsidiaries, affiliates or branches owes or accepts any duty or liability or responsibility whatsoever (whether direct, indirect, consequential, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Cavendish in connection with this Announcement, any statement or other matter or arrangement referred to herein or otherwise.

No profit forecast, estimate or quantified benefits statements

No statement in this Announcement or incorporated by reference into this Announcement is intended to constitute a profit forecast, profit estimate or quantified benefits statements for RHM or Concord Bidco for any period, nor should any statement in this announcement or incorporated by reference into this announcement be interpreted to mean that earnings or earnings per RHM Share for the current or future financial years would necessarily match or exceed the historical published earnings or earnings per RHM Share.

Publication on website

A copy of this Announcement (together with any document incorporated by reference) and the documents required to be published pursuant to Rule 26 of the Takeover Code will be made available, free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on RHM's website at www.roundhillmusicroyaltyfund.com by no later than 12.00 pm London time) on the date following the publication of this announcement. Save as expressly referred to in this announcement, neither the contents of RHM's website, Concord's website nor the content of any other website accessible from hyperlinks on such websites is incorporated into, or forms part of, this announcement.

Requesting hard copy documents

In accordance with Rule 30.3 of the Takeover Code, any person entitled to receive a copy of documents, announcements and information relating to the Acquisition is entitled to receive such documents (including information incorporated by reference into such documents by reference to another source) in hard copy form.

RHM Shareholders may request hard copies of this document by contacting the Registrar, JTC Registrars Limited, at c/o JTC Group, The Scalpel, 18^th Floor, 52 Lime Street, London, United Kingdom EC3M 7AF or by calling 01481 711 301 or from overseas [phone]. Calls are charged at the standard geographical rate and will vary by provider. Calls outside the United Kingdom or Guernsey will be charged at the applicable international rate. Lines are open between 9.00 a.m. and 5.00 p.m. (London time) Monday to Friday (except public holidays in the UK and Guernsey). Please note that JTC Registrars Limited cannot provide any financial, legal or tax advice. Calls may be recorded and monitored for security and training purposes.

Such persons may also request that all future documents, announcements and information to be sent to them in relation to the Acquisition should be in hard copy form.

Dealing disclosure requirements

Under Rule 8.3(a) of the Takeover Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any securities exchange offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) of the Takeover Code applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8 of the Takeover Code. A Dealing Disclosure by a person to whom Rule 8.3(b) of the Takeover Code applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3 of the Takeover Code.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4 of the Takeover Code).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the disclosure table on the Panel's website at www.TheTakeoverPanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

 

END