Hipgnosis Songs Fund Limited announce the Company’s unaudited Operative Net Asset Value has increased

Hipgnosis Songs Fund Limited announce the Company’s unaudited Operative Net Asset Value has increased

Merck Meruciadis Abbey Road Oct 2018 by JF

Hipgnosis Songs Fund Limited announce the Company’s unaudited Operative Net Asset Value has increased

The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that, following the Company’s semi-annual valuation of its Song Portfolio by an independent valuer, the Company’s unaudited Operative Net Asset Value (‘Operative NAV’) as at 30 September 2019 has increased by 5.03% to 108.46 pence per Ordinary Share (31 March 2019: 103.27 pence).

The Group expects to announce its interim results for the 6 months ended 30 September 2019 on 11 December 2019.

At 30 September 2019 the Company had no C Shares in issue therefore the first NAV for the C Shares to be published, unless already converted, will be as at 31 March 2020.

Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:

“This is an excellent NAV result, and together with the dividends paid reflects a 7.45% Total NAV Return for our shareholders for the first half of the year and a Total NAV Return of 11.96% since Hipgnosis launched 16 months ago. This is a testament to the great power of not only our songs but music and proven songs in general and supports our thesis that songs are a new asset class to be taken as seriously as gold and oil. Our results are not only positive news for Hipgnosis and our shareholders but for all songwriters.”

For further information, please contact:

The Family (Music) LimitedMerck Mercuriadis Tel: +44 (0)1481 742742
N+1 Singer – Joint Corporate BrokerJames Maxwell / James Moat (Corporate Finance)Alan Geeves / James Waterlow / Sam Greatrex (Sales) Tel: +44 (0)20 7496 3000
J.P. Morgan Cazenove – Joint Corporate BrokerWilliam Simmonds / Ed Murray / Jérémie Birnbaum (Corporate Finance)James Bouverat / Eddie Nissen (Sales) Tel: +44 (0)20 7742 4000
The Outside OrganisationAlan Edwards / Nick CaleyTel: +44 (0)7711 081 843

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