Kite Lake Capital Management (UK) LLP has disclosed a 1.07% stake in Hipgnosis Songs Fund Limited. The disclosure, made under Rule 8.3 of the Takeover Code, reveals that the investment manager holds 13,000,000 ordinary shares in the company. The disclosure also includes details of cash-settled derivative transactions, with Kite Lake Capital Management (UK) LLP increasing its long position by purchasing 1,000,000 and 500,000 ordinary shares at £1.014 per unit.
The disclosure further states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives. Additionally, no supplemental form for open positions is attached to the disclosure.
This disclosure provides insight into Kite Lake Capital Management (UK) LLP's significant stake in Hipgnosis Songs Fund Limited and its recent derivative transactions, offering transparency to the market and stakeholders.