Sand Grove Capital Management LLP has disclosed a 3.89% 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 47,057,730 ordinary shares and holds cash-settled derivatives amounting to 0.39% of the total shares. Additionally, the disclosure includes details of recent dealings, such as the purchase of 500,000 ordinary shares at a price of USD 1.25870 per unit.
The disclosure also outlines the absence of indemnity or other dealing arrangements, as well as agreements, arrangements, or understandings relating to options or derivatives. Sand Grove Capital Management LLP has not entered into any such agreements, arrangements, or understandings. The disclosure provides a comprehensive overview of Sand Grove Capital Management LLP's position and dealings in relation to Hipgnosis Songs Fund Limited.