Vanguard Group Reports Increase in Stake in Hipgnosis Songs Fund

The Vanguard Group, Inc. disclosed its updated stake in Hipgnosis Songs Fund Limited, revealing that it now controls 1.20% of the music investment company's ordinary shares. The disclosure, dated 17 May 2024, confirms the ownership of 14,501,814 shares, following a recent purchase of 56,448 shares at 1.01 GBP each on 16 May 2024. This move is part of The Vanguard Group's investment strategy, as described under the rules of the Takeover Code which applies to acquisitions affecting UK companies. Notably, the fund manager has not disclosed any related dealings in cash or stock-settled derivatives in this transaction.