Hipgnosis Songs Share Discussion Threads

[laughton] 30/4/2024 21:08

Reading it again I think you're right.

[typo56] 30/4/2024 20:10

I'm not suggesting I'm any cleverer than you and I may be reading it wrong but I think it means Hambro have sold some of their shares.

Hambro gave an undertaking to vote in favour of the Concord deal. At the time they held about 20.5m shares (1.69%). They subsequently decided to sell about 13.9m. This reduced the total level of irrevocable undertakings.

[laughton] 30/4/2024 12:03

Someone cleverer than me please explain why Concord would sell shares in the market?

Or am I reading it wrong (more than possible)?

[edwardt] 29/4/2024 18:38

Would Apollo really waste their time? I suspect this ain't done yet.

[epo001] 29/4/2024 12:49

So, is that RNS it? 148.1% of 71p being 105.15. I can get 104.8 at the moment with perhaps another £30 in total at the agreed price.

[cynicalsteve] 29/4/2024 09:31

I was going to say that it looks like we are getting to the endgame but the truth is it's impossible to predict anything relating to SONG.

I got out immediately at 92.6p so of course I'm disappointed that I've missed out but not as disappointed as you might think! This is an ugly battle where anything could happen so I'm just glad to have the money in my bank account. I've actually made a capital profit of £250 plus £500 of dividends but to do that I had to do a lot of trading and go through a lot of stress, it wasn't worth it!

I thought it would be apt to write a musical about being a SONG shareholder, I was going to call it Les Misérables but apparently that title is already taken.

I'm worried about the future of music royalties as an asset class. The world is changing for the worse and music royalties may be a minor casualty of that change.

[typo56] 29/4/2024 08:59

I halved this morning. There may be a few more pennies to come but I preferred to bank some and look for better prospects elsewhere from here.

[feddie] 29/4/2024 08:16

The last issuance in Jan 2021 was at 121p. That's the number.

[laughton] 29/4/2024 07:21

One more (the word FINAL hasn't featured yet) from Concord and then a knockout blow from Blackstone and I'll actually be in profit.

[typo56] 29/4/2024 06:37

Would prefer it to end up with Blackstone though, to reduce legal tangle

[edwardt] 29/4/2024 06:03

Not high enough. Ball back in concord's court

[edwardt] 28/4/2024 20:19

Hopefully £1.10 level!

[apollocreed1] 28/4/2024 17:08

"Blackstone to make improved bid for Hipgnosis, Sky News reports"

hxxps://uk.investing.com/news/stock-market-news/blackstone-to-make-improved-bid-for-hipgnosis-sky-news-reports-3459034

[nil of] 25/4/2024 15:38

I hope your right and I would expect Blackstone to come out with something next week

[epo001] 25/4/2024 10:31

£1.10 is $1.38 at the moment. It is still a two horse race and I will sell at £1.10 or better but have a 3 month limit sell at £1.19 just in case...

[edwardt] 25/4/2024 09:38

Stick by my £1.10

[nil of] 24/4/2024 22:25

Concord playing a brilliant game. One cent above and re set those irrevocables to the new price plus 10%. Go on blackstone can you face having your business stolen off you by Apollo? Two heavy weights and this is now down to their two CEOs. My guess blackstone have one more price left in them maybe at 130 cents. I think I can smell rob Naylor’s cigar….(the new chairman of Hipgnosis).well played.

[rambutan2] 24/4/2024 21:58

And back to you Blackstone...

INCREASED CONCORD OFFER
Under the terms of the Increased Concord Offer, Hipgnosis Shareholders will be entitled to receive:

US$1.25 in cash for each Scheme Share

The Increased Concord Offer values the entire issued and to be issued ordinary share capital of Hipgnosis at approximately US$1,511.5 million. The Increased Concord Offer represents an increase of approximately 7.8 per cent to the offer value under the Original Concord Offer.

The Increased Concord Offer is equivalent to £1.01 per Share based on the Increased Offer Announcement Exchange Rate.

[elbrus55] 23/4/2024 15:48

Also the option is with HSM. Mr Mercuriadis has a minority shareholding in that so they Blackstone may prefer to buy the assets directly if they can.HSM/Mercuriadis would not have the cash to exercise the call option without Blackstone support.

[elbrus55] 23/4/2024 15:36

It would be cleaner for Blackstone to have an offer agreed and it could prevent costly litigation and legal challenges dragging on for years. The option they hold is to buy the music assets of the company rather than buy the whole company. ( If Blackstone buy the whole company then the litigation evaporates.)The chairman has done a good job in getting his mates at Concord to put in a bid. Otherwise Blackstone could have bought this very cheaply without much challenge.It is all a bit of mess and it was badly structured for shareholders from inception.

[laughton] 23/4/2024 14:42

In which case why start a bidding war or bid direct at all if all they have to do is match any other bids?

Just asking.

[elbrus55] 23/4/2024 14:02

Blackstone are the majority shareholder of HSM and presumably have significant control over it.

[edwardt] 23/4/2024 11:38

Fwiw Spotify raises guidance. No wonder the big boys want in Here

[epo001] 23/4/2024 09:41

That times article is behind a paywall, what's the gist of it?

[laughton] 23/4/2024 09:33

I guess it depends on how hardcore each of the bidders wants to get. Does anyone know whether the "matching offer" rights apply only to "the investment advisor" (Mr Merck) or to anyone that MM feels like passing the rights on to (Blackstone)?

They're clearly not the same entity.

Does the "Investment Advisor" have the money to match the bid(s)?

Laughton (sometime pedant)