The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, announce that the Company has invested approximately 82% of the net proceeds from its July C Share fundraising in accordance with its Investment Objective and Policy. Accordingly, the Board is pleased to announce that the Company intends to convert the C Shares (Ticker: SONC) into Ordinary Shares (Ticker: SONG) (the "Conversion") in accordance with the provisions of its articles of incorporation as amended at the AGM held yesterday.