Hipgnosis investors vote against UK-listed song royalties group continuing

Business that bought rights to Neil Young and Beyonce back catalogues must now restructure or face being wound up

Shareholders in the music royalties investment fund Hipgnosis have voted overwhelmingly against continuing the business in its current form, throwing the future of the group into question.

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