Sand Grove Capital Management LLP has disclosed a 5.71% stake in Hipgnosis Songs Fund Limited. The disclosure, made under Rule 8.3 of the Takeover Code, reveals that Sand Grove Capital Management LLP owns and/or controls 68,993,836 ordinary shares of Hipgnosis Songs Fund Limited. Additionally, the disclosure includes 5,858,536 cash-settled derivatives, representing 0.48% of the total relevant securities.

The disclosure also details dealings by Sand Grove Capital Management LLP, including the sale of 6,635,438 ordinary shares at a price of USD 1.2881 per unit. Furthermore, the disclosure states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives between Sand Grove Capital Management LLP and any other party.

This disclosure provides insight into Sand Grove Capital Management LLP's significant stake in Hipgnosis Songs Fund Limited, shedding light on their interests and short positions in the company's relevant securities. It offers transparency regarding the ownership and control of shares and cash-settled derivatives, as well as recent dealings in ordinary shares.