Saba Capital Management, L.P. has disclosed a 1.35% stake in Hipgnosis Songs Fund Limited. The disclosure, made under Rule 8.3 of the Takeover Code, indicates that Saba Capital Management, L.P. holds 16,369,294 ordinary shares in Hipgnosis Songs Fund Limited. Additionally, the disclosure includes details of cash-settled derivative transactions, with 3,000,000 securities being sold at a price of .9151 per unit.
The disclosure also states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives. Furthermore, no supplemental form 8 (open positions) is attached to the disclosure. The contact person for the disclosure is Benjamin Vice, with a provided telephone number of +1-212-542-3610.
This disclosure provides insight into Saba Capital Management, L.P.'s significant stake in Hipgnosis Songs Fund Limited and its recent dealings in cash-settled derivative transactions. It offers transparency regarding the ownership and control of interests in relevant securities, as required by the regulatory framework.