Hipgnosis Songs Fund Limited has announced that several Directors of the company, along with certain of their PCAs (Persons Closely Associated), have purchased ordinary shares in the company. The purchases aim to improve the alignment of the Directors with the shareholders of the company. The following Directors and their respective share purchases are as follows: Rob Naylor, Chair of the Company, purchased 100,000 ordinary shares; Sylvia Coleman, Non-Executive Director, purchased 50,000 ordinary shares; Simon Holden, Non-Executive Director, purchased 50,000 ordinary shares; Francis Keeling, Non-Executive Director, purchased 100,000 ordinary shares; and Cindy Rampersaud, Non-Executive Director, purchased 27,000 ordinary shares.
After these purchases, Mr. Naylor holds 100,000 shares, Ms. Coleman holds 111,201 shares, Mr. Holden holds 150,796 shares, Mr. Keeling holds 100,000 shares, and Ms. Rampersaud holds 27,000 shares. The transactions took place on 16 November 2023 on the London Stock Exchange, Main Market, except for Mr. Holden's transaction, which took place off-exchange (XOFF). The price per share ranged from 73.294 pence to 73.65 pence, and the aggregated volume and principal amount for each transaction were 50,000 shares and £36,825 to £73,294, respectively.
The purchases by the Directors demonstrate their confidence in the company and its future prospects. By aligning their interests with the shareholders, the Directors aim to further strengthen the company's performance and value.