Hipgnosis investors vote against UK-listed music trust continuing

Investment fund must now rebuild its board and propose a way forward or face being wound up

Investors in the music royalties investment fund Hipgnosis have voted overwhelmingly against its continuation it its current form, throwing the future of the song management’s group into question.

At an extraordinary general meeting on Thursday, 83.2% of shareholders voted against it securing another five-year mandate to run as an investment trust.