Hipgnosis Songs independent valuer Citrin Cooperman resigns after portfolio valuation row

Follows valuation health warning

Hipgnosis Songs’ independent valuer Citrin Cooperman has parted ways with the trust after the board questioned the firm's valuation of the portfolio.

On 19 December, the trust's board said it would delay the publication of its half-year results to September-end over concerns that the valuations from Citrin Cooperman were "materially higher" than the valuation implied by proposed and recent transactions in the sector. A day after Hipgnosis delayed its results, Citrin Cooperman gave notice that "it would not be providing future valuation services" to the trust, a spokesperson for the firm told The Times today (12 February).  The interim results were eventually published on 21 December, but the board recommended investors to use the v...