Hipgnosis Songs delays publication of half-year results over valuation concerns

In a stock exchange notice, the board said the valuation the trust  received from its independent valuer is "materially higher" than the valuation implied by proposed and recent transactions in the sector. In particular, it noted the proposed sale of assets to Hipgnosis Songs Capital for $417.5m, which reflected a discount of 24.3% to the valuation of these assets as at 31 March 2023.  Hipgnosis Songs hires JO Hambro co-founder and former CIO as non-executive director It also highlighted the recent sale of non-core assets of $23.1m, which reflected a 14.2% discount to to the valuat...