News
Timothy A. Price
- February 07, 2024
Hipgnosis Songs Fund shareholders have unanimously approved a proposal to allocate up to £20 million ($25.2 million) to prospective buyers of its assets. This move aims to provide substantial financial protection and incentivize engagement with the company for potential deals.
Encouraging Prospective Buyers
The London-listed song catalog fund, known for its ownership of rights to tracks by renowned artists such as Shakira and the Red Hot Chili Peppers, initiated this request for shareholder approval in January. By allocating funds for due diligence and acquisition costs, Hipgnosis aims to facilitate meaningful discussions with prospective buyers.
Focus on Delivering Shareholder Value
Robert Naylor, Chairman of Hipgnosis Songs Fund, emphasized the board's dedication to the ongoing strategic review. The review aims to explore all available options to maximize shareholder value. Shareholders can expect updates on the outcome of due diligence in the near future.
Stock Performance
As of 1315 GMT, the company's shares experienced a slight decline of 0.15% or 0.10 pence, currently valued at 65.0 pence. Over the past twelve months, shares have witnessed a 50% decline.
PREVIOUS POST
Sartorius Stedim Biotech Completes Capital Increase
Our Latest News
Jadestone Energy: Anticipated Growth in Production for 2024
Jadestone Energy anticipates a substantial increase in production for 2024, driven by new projects and acquisitions, while maintaining stable operating costs.
Rising Oil Futures Aim for Weekly Gains
Oil futures are on track for weekly gains after a slump, while traders remain uncertain about OPEC+ meeting outcomes. The market declined due to lack of clarity...
Portmeirion Group Reports First-Half Loss as Revenue Declines
Portmeirion Group reports a first-half loss and revenue decline, but remains optimistic for future growth. Christmas order book is robust. Expectation of sales...