The Bank of Nova Scotia has disclosed a 1.26% stake in Hipgnosis Songs Fund Limited. The disclosure, made under Rule 8.3 of the Takeover Code, includes details of the bank's interests and short positions in the relevant securities of Hipgnosis Songs Fund Limited. The bank currently owns and/or controls 15,213,519 ordinary shares and holds cash-settled derivatives for the same number of shares. Additionally, the bank has engaged in purchases of 3,108,235 and 1,767,528 ordinary shares at a price of 1.02 GBP per unit.
The disclosure also includes details of cash-settled derivative transactions, including total return swaps, and stock-settled derivative transactions. The Bank of Nova Scotia has not entered into any indemnity or other dealing arrangements, and there are no agreements, arrangements, or understandings relating to options or derivatives. No supplemental form is attached to the disclosure.
This disclosure provides valuable insight into the Bank of Nova Scotia's significant stake in Hipgnosis Songs Fund Limited and its recent dealings in the company's securities. It offers transparency and clarity regarding the bank's position and transactions, in compliance with the regulatory requirements of the Takeover Code.