Kite Lake Capital Management (UK) LLP has disclosed its position in Hipgnosis Songs Fund Limited, as per the Rule 8.3 of the Takeover Code. The disclosure, dated 08 May 2024, reveals that Kite Lake Capital Management (UK) LLP, as the investment manager, holds 1.68% of the ordinary shares in Hipgnosis Songs Fund Limited, representing 20,400,000 shares. The disclosure also includes details of cash-settled derivative transactions, where Kite Lake Capital Management (UK) LLP increased its long position in ordinary shares through CFDs at various prices per unit.
The disclosure further states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives. It also specifies that for any open stock-settled derivative positions or agreements to purchase or sell relevant securities, details should be given on a Supplemental Form 8 (Open Positions).
This disclosure provides transparency about Kite Lake Capital Management (UK) LLP's interests and short positions in Hipgnosis Songs Fund Limited, in accordance with the regulatory requirements. It offers insights into the investment manager's holdings and dealings related to the relevant securities of the company, contributing to a clearer understanding of the market position and activities of the involved parties.