(Reuters) – Music investor Hipgnosis Songs Fund Ltd said on Monday it would not declare dividends before its new financial year to ensure sufficient cash resources and service its revolving credit facility.
Hipgnosis, whose shareholders last voted against its proposed $440 million deal to sell 29 catalogues, said the catalogue bonus provision was expected to increase by about $23 million to $68 million as at Sept. 30.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Nivedita Bhattacharjee)
