J.P. Morgan Securities Plc, as the Sole Financial Adviser to Concord Chorus Limited, made a public dealing disclosure related to Hipgnosis Songs Fund Limited. The disclosure, made on 18 April 2024, included details of purchases and sales of ordinary shares, as well as cash-settled derivative transactions. The purchases and sales of ordinary shares totaled 14,852,102 and 7,983,449, respectively, with prices ranging from 0.9260 GBP to 0.9309 GBP per unit.
Additionally, the disclosure included cash-settled derivative transactions, such as equity swaps, with details of opening and closing long/short positions. The disclosure also mentioned stock-settled derivative transactions, including options, and other dealings, but no indemnity or other dealing arrangements were reported. Furthermore, there were no agreements, arrangements, or understandings relating to options or derivatives.
The disclosure was made in accordance with Rule 8 of the Takeover Code and was publicly disclosed on 19 April 2024. For further details, individuals were directed to the Panel's Market Surveillance Unit for consultation regarding the Code's dealing disclosure requirements.
This disclosure provides insight into the recent dealings and transactions involving Hipgnosis Songs Fund Limited's securities, shedding light on the activities of J.P. Morgan Securities Plc as the exempt principal trader in this instance.