The Board of Hipgnosis Songs Fund Limited, the first UK listed investment company offering investors a pure-play exposure to songs and associated musical intellectual property rights, and its Investment Adviser, The Family (Music) Limited, are pleased to announce an Initial Placing, Offer for Subscription and Intermediaries Offer of new Ordinary Shares of the Company (the “New Ordinary Shares”) at a price of 121 pence per Ordinary Share (the “Initial Issue Price”) (the “Initial Issue”) and new Placing Programmes of new Ordinary Shares and/or C Shares (the “Placing Programmes”).