Investec: ‘Impossible’ for Hipgnosis board to keep HSM as its investment adviser
Research house has retained its ‘buy’ rating
Hipgnosis
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Shot Tower Capital confirms Hipgnosis valuation amid damning due diligence report
Also concludes HSF held a ‘conflicted position’ when recommending the sale of 29 catalogues to shareholders
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Hipgnosis valuation reduced further 7.6% following double-counting error
Operative NAV reduced to 85.02p per share from 92.08p
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Investors lose over £200m in a year as the price of Hipgnosis Songs Fund collapses
The trust’s share price has collapsed by 65% from £1.61 to 56p over the last year
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Hipgnosis hit with 26.3% reduction to portfolio valuation
NAV per share falls to $1.17 from $1.74 after independent valuation
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Hipgnosis investment adviser denies indemnity request
Hipgnosis Songs to file Part 20 Claim in High Court to seek full indemnity
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Hipgnosis shareholders back £20m offer to prospective buyers
99.9% of those who attended the EGM voted in favour
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Hipgnosis Songs Management refuses to scrap call option as row continues
Bidder incentive fee vote comes amid the board’s allegations of ‘cherry-picking’ by Hipgnosis Songs Capital
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Hipgnosis offers £20m to entice prospective bidders
Investment adviser’s call option a ‘structural conflict’, the trust’s board said
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Hipgnosis reports 9.2% NAV drop as it narrowly beats results deadline
Driven by a reduction in the fair value of the portfolio
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Hipgnosis delays interim results over valuation concerns
Board raised concerns over independent valuer’s appraisal of the trust’s portfolio
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Hipgnosis Song fund offloads 20,000 songs from portfolio
Sale made at 14.2% discount
