JP Morgan Securities Plc, acting as an exempt principal trader, has disclosed dealings in the relevant securities of Hipgnosis Songs Fund Limited. The dealings, undertaken on 22 April 2024, include purchases and sales of ordinary shares, as well as cash-settled derivative transactions. The purchases and sales of ordinary shares totaled 8,318,548 and 8,291,565, respectively, with prices ranging from 0.9992 GBP to 1.0400 GBP per unit. Additionally, there were cash-settled derivative transactions involving equity swaps, with various long and short positions, and prices ranging from 1.0115 GBP to 1.0190 GBP per unit.
The disclosure also includes information on stock-settled derivative transactions and other dealings, such as subscribing for new securities. Furthermore, the disclosure states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives between the exempt principal trader and any other person.
This public dealing disclosure by JP Morgan Securities Plc is in accordance with Rule 8.5 of the Takeover Code and provides transparency regarding their dealings in the relevant securities of Hipgnosis Songs Fund Limited. The disclosure aims to ensure compliance with regulatory requirements and promote transparency in the financial markets.