Hipgnosis continuation votes don't lie (feat. Wyclef Jean)

Friday Briefing

Yesterday, shareholders of the Hipgnosis Songs fund voted against the continuation of the musical trust, in a move surprising to few.

A staggering 83.2% of votes decided to call time on the vehicle as it currently exists, forcing the board to propose a reconstruction, reorganisation or wind-up of the trust within six months. Investors also took the opportunity to express their chagrin over now former SONG chair Andrew Sutch, who was ousted at the annual general meeting, despite his promise to resign next year. He joins directors Andrew Wilkinson and Paul Burger out in the cold, with the pair stepping down the night before the vote. How do you solve a problem like a liquidity mismatch? In the lukewarm is Simon ...