Hipgnosis narrowly avoids share suspension with publication of interim results

Continued tension with investment adviser

Hipgnosis Songs Fund (SONG) has manged to avoid having its shares temporarily suspended as it published its interim results today (21 December) for the year ended 30 September 2023.

The trust announced earlier this week (19 December) that it was delaying its half-year results due that day, citing valuation concerns. Hipgnosis results delay sheds light on frictions between manager and revamped board This meant that if the trust failed to publish the interim results by the end of December 2023, it faced the risk of share suspension. Financial results In its results, SONG reported its operative net asset value had decreased 9.2% over the period, which it said was "driven primarily by a reduction in the fair value of the portfolio". It mad...