- Hipgnosis Songs Fund must find a new way forward after failing its continuation vote
- Options must be presented within six months
Shareholders in Hipgnosis Songs Fund (SONG) have overwhelmingly voted against its continuation, putting the embattled music royalties fund's future into question.
Some 82.3 per cent of shareholders voted against continuation at the trust’s annual general meeting this morning, according to those in attendance, with shareholders also decisively voting down controversial proposals to sell portfolio assets to finance share buybacks and the paying down of debt.