Hipgnosis Song Management: Board has ‘no legal grounds’ to terminate relationship
JOHCM’s share disposal reduces ‘irrevocable undertaking’ support bid down to 23.1%
JOHCM’s share disposal reduces ‘irrevocable undertaking’ support bid down to 23.1%
Trust’s board said it would be minded to recommend the proposal to shareholders if a firm offer was made
Investment adviser will ‘respond to the company’s board in due course’
Operative NAV reduced to 85.02p per share from 92.08p
While Mercuriadis has stood down as CEO of the trust’s investment adviser
Bidder incentive fee vote comes amid the board’s allegations of ‘cherry-picking’ by Hipgnosis Songs Capital