The once high-flying FTSE 250 business, which earns royalties each time one of the thousands of songs to which it owns the rights is played, updated the market yesterday about its continuing strategic review. It also said it would suspend dividends for the foreseeable future and use free cash to pay down debt.
Hipgnosis shares, which peaked at 129p in late 2021, fell 11% to 56p in early trading.
The company was founded in 2018 by Merck Mercuriadis, a former manager of acts including Elton John, Iron Maiden, Guns N' Roses and Beyoncé.
Diese Geschichte stammt aus der March 05, 2024-Ausgabe von The Guardian.
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Diese Geschichte stammt aus der March 05, 2024-Ausgabe von The Guardian.
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