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Hipgnosis Songs Fund (SONG)

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Thursday 25 October, 2018

Hipgnosis Songs Fund

First Interim Dividend Announcement

RNS Number : 1073F
Hipgnosis Songs Fund Limited
25 October 2018
 

25 October 2018

HIPGNOSIS SONGS FUND LIMITED

 (the "Company" or "Hipgnosis")

 

First Interim Dividend Announcement

 

Hipgnosis Songs Fund Limited is pleased to announce the Company's first interim dividend (the 'Dividend') for the period from admission to 30 September 2018.

 

The Dividend of 0.50 pence per Ordinary Share will be payable to Shareholders on the register as at 2 November 2018 with an associated ex-dividend date of 1 November 2018 and a payment date of 29 November 2018. 

 

As set out in the Company's prospectus, Hipgnosis is targeting a dividend for the first 12 months following admission of 3.5 pence* and intends to pay interim quarterly dividends to shareholders in November, February, May and August.

 

* the target dividend is a target only and is not a profit forecast.  There can be no guarantee that this target will be met and it should not be taken as an indication of the Company's expected or actual future results.

 

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 (www.hipgnosissongs.com)

 

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.

 

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, 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.
 
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