Singer Capital Markets Securities Ltd, an exempt principal trader, disclosed dealings in HIPGNOSIS SONGS FUND LTD's securities on 26th April 2024. The disclosed dealings included sales of 22,940 ordinary shares at a price of 103.4p per unit. The form also indicated that there were no cash-settled derivative transactions, stock-settled derivative transactions, or other dealings, such as subscribing for new securities. Furthermore, the disclosure stated that there were no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives.
The disclosure, made under Rule 8 of the Takeover Code, is a requirement for exempt principal traders with recognized intermediary status dealing in a client-serving capacity. The form provided key information such as the name of the exempt principal trader, the name of the offeror/offeree (HIPGNOSIS SONGS FUND LTD), and the date of dealing undertaken. It also included details of the dealings by the exempt principal trader, as well as other relevant information.
This disclosure is an important regulatory requirement that provides transparency and information to the market regarding the trading activities of exempt principal traders in relation to specific securities. It ensures that all relevant parties and regulatory bodies are informed about the dealings and any related arrangements or understandings, contributing to a fair and transparent market for all investors and stakeholders involved with HIPGNOSIS SONGS FUND LTD.