Following the announcement on 28 September 2023, the Board of Hipgnosis Songs Fund Limited announces that, following substantive engagement with a number of parties, it did not receive a Superior Offer as part of the Go-Shop process in connection with the First Disposal.

The Company was in contact with 17 parties at the beginning of the Go-Shop, with eight parties signing NDAs; one first round non-binding offer was received, but did not subsequently result in a binding bid. The Board received feedback through the process that a number of the parties assessed that they could not justify paying a higher price than the offer from the Buyer for the First Disposal.