Alchemy Copyrights, LLC signed an agreement to acquire Round Hill Music Royalty Fund Limited (LSE:RHM) from CCLA Investment Management Limited, Schroders plc (LSE:SDR), Brooks MacDonald Asset Management, Turtlegrass Partners LLC, Evergreen Partners, L.P. and others for $470 million on September 8, 2023. RHM shareholders will receives $1.15 per share for outstanding share of RHM 407.62 million shares. The Acquisition will be financed via a combination of cash on hand, and debt provided by funds and accounts managed byApollo and its affiliates, Concord's long-term financing partner, pursuant to an interim facility agreement. RHM's existing facility arrangements will be repaid by RHM on completion of the Acquisition.

The Acquisition will also be subject to the applicable requirements of the Companies Law, the sanction of the Scheme by the Court (as a result of RHM being incorporated in Guernsey), the GFSC, the FCA, RHM shareholders, the London Stock Exchange and the Takeover Code. The long stop date of the transaction is December 29, 2023. As of September 25, 2023, Brooks Macdonald notified Concord of selling 1 million RHM Shares. Concord now holds 110.87 million RHM shares approximately 27.20% of RHM's total issued share capital as of that date. As on October 18, 2023, the transaction is approved at court meeting and Round Hill Music Royalty shareholders approved the deal. As of October 30, 2023, pursuant to the Scheme Court Order granted, the Scheme shall become effective on delivery of the Scheme Court Order to the Guernsey Registry which is scheduled to be tomorrow, October 31, 2023.

Jonty Edwards, Brent Ballard, Rupert Budge, Edward Hatter of J.P. Morgan Cazenove Limited acted as financial advisor to Alchemy Copyrights, LLC. James King and William Talkington of Cenkos Securities plc (AIM:CNKS) acted as financial advisor to Round Hill Music Royalty Fund Limited. Reed Smith LLP acted as legal advisor to Alchemy Copyrights, LLC. John Reed of Gowling WLG (UK) LLP acted as legal advisor to Round Hill Music Royalty Fund Limited. Tom Mercer,Time Rennie and Harry Thimont of Ashurst LLP acted as legal advisor to J.P. Morgan Cazenove Limited.

Alchemy Copyrights, LLC completed the acquisition of Round Hill Music Royalty Fund Limited (LSE:RHM) from CCLA Investment Management Limited, Schroders plc (LSE:SDR), Brooks MacDonald Asset Management, Turtlegrass Partners LLC, Evergreen Partners, L.P. and others October 31, 2023. As the Scheme has now become Effective, RHM announces that, Robert Naylor, Caroline Chan, Audrey McNair and Francis Keeling have tendered their resignations and have stepped down from the RHM Board. Cancellation of listing of RHM Shares on London Stock Exchange on November 1, 2023.