RNS Number : 5310W

Hipgnosis Songs Fund Limited

17 April 2019

17 April 2019

Hipgnosis Songs Fund Limited

("Hipgnosis" or the "Company")

Notification of Transactions of Persons Discharging Managerial Responsibilities (PDMRs)

The Company announces that, it has been advised that, certain Directors of the Company have acquired ordinary shares in the Company ("Ordinary Shares") under the Placing, at a price of 102 pence per share, as announced on 12 April 2019.

Details of the Directors who participated in the Placing are as follows:

Director	Number of Ordinary Shares acquired	Total interest in Ordinary Shares following this notification
Simon Holden	20,000	35,000
Andrew Wilkinson	10,000	25,000
Paul Burger	7,500	22,500

In addition, certain management and employees of the Investment Adviser, The Family (Music) Limited,  acquired Ordinary Shares under the Placing, at a price of 102 pence per share, including Merck Mercuriadis, CEO of the Investment Adviser, who acquired 100,000 Ordinary Shares.

Unless otherwise defined, capitalised terms in this announcement shall have the meaning given to them in the Prospectus.

Details of the transaction can be found in the Notification of Dealing Form below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Simon Holden
2	Reason for the notification
a)	Position/status	Director of the Company
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 GG00BFYT9H72
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) £1.02	Volume(s) 20,000
d)	Aggregated information - Aggregated volume - Price - Principal amount	20,000 £1.02 £20,400
e)	Date of the transaction	17 April 2019
f)	Place of the transaction	London Stock Exchange, Specialist Fund Segment
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul Burger
2	Reason for the notification
a)	Position/status	Director of the Company
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 GG00BFYT9H72
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) £1.02	Volume(s) 7,500
d)	Aggregated information - Aggregated volume - Price - Principal amount	7,500 £1.02 £7,650
e)	Date of the transaction	17 April 2019
f)	Place of the transaction	London Stock Exchange, Specialist Fund Segment
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Andrew Wilkinson
2	Reason for the notification
a)	Position/status	Director of the Company
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 GG00BFYT9H72
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) £1.02	Volume(s) 10,000
d)	Aggregated information - Aggregated volume - Price - Principal amount	10,000 £1.02 £10,200
e)	Date of the transaction	17 April 2019
f)	Place of the transaction	London Stock Exchange, Specialist Fund Segment

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.  In its Subsequent Placing under its Placing Programme on 12 April 2019, the Company raised approximately £140m of further 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, Giorgio Tuinfort, Bill Leibowitz, Ian Montone and Jason Flom.

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