Merck Mercuriadis' Hipgnosis Raises Another $100 Million After Successful 2020

On Fire

The Board of HIPGNOSIS SONGS LTC; and its investment advisor THE FAMILY (MUSIC) LIMITED have raised total gross proceeds of more than $100 million by way of the Initial Placing, In addition, at the Extraordinary General Meeting ("EGM") of the Company held FRIDAY, the special resolution was passed without amendment by the requisite majority.

HIPGNOSIS founder MERCK MERCURIADIS commented,  "2020 was a transformational year for HIPGNOSIS. Against one of the most challenging economic backdrops of our lives, we raised more capital than any other listed investment fund, outperformed the FTSE 250 index by 21.5% and paid a fully covered dividend of over five pence per share, which places us as the 35th highest dividend yielding company on the FTSE 250. While we would not have wished for a pandemic to prove our thesis that music is a highly investable asset class generating uncorrelated returns, it has done exactly that. In just over two years from IPO to our latest results announcement as of SEPTEMBER 30tn, 2020, we have generated a Total NAV Return of 37.9% for our shareholders, a 40.4% outperformance of the FTSE 250 over the same period.

"That momentum continues, and 2021 is off to our strongest start ever, with some of the most important catalog acquisitions we have made to date being announced. The new prospectus underpins our plans for marketing into new audiences and fundraising for the rest of the year and I’m delighted with the excellent first step we have made with a successful raise of over USD$100 million. Once again, I am incredibly appreciative of the support from both our existing and new shareholders and equally the incredible songwriters who have entrusted us with their iconic songs. We look forward to investing further into our pipeline of proven and culturally important songs and actively managing these incredible songs to enhance their legacy and maximize income as we seek to provide exceptional risk adjusted returns for shareholders. To top it off we have both the #1 and #2 airplay songs in the UK this week with MILEY CYRUS featuring DUA LIPA and JUSTIN BIEBER, respectively, both written by our songwriter STEFAN JOHNSON.”

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