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Round Hill Music Royalty Fund Ltd - New York-based music copyright investment company - Since raising USD86.5 million through the C share issue, has identified a near term pipeline worth in excess of USD120 million in investment opportunities, and includes music publishing, master recordings and neighbouring rights.
Now that the proceeds from the C share issue have been fully invested, company will now start the process to convert C shares into ordinary shares.
"We are delighted to announce the successful completion of the company's deployment from the recent C Share Issue into eleven high quality catalogues with many well-known songs, and to provide further disclosure on the quality of those acquisitions. Reflecting the company's broader portfolio and investment philosophy of preferring catalogues with proven long-term revenue streams, over 77 per cent of the income generated is in respect of compositions written between 1950 and 2010," said Chair Trevor Bowen.
Current stock price: USD1.06
12-month change: up 1.0%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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