April 18 (Reuters) - Alchemy Copyrights:

* RECOMMENDED CASH OFFER FOR HIPGNOSIS

* UNDER TERMS OF ACQUISITION, SCHEME SHAREHOLDERS WILL

RECEIVE:

FOR EACH SCHEME SHARE US$1.16 IN CASH

* CASH CONSIDERATION VALUES ENTIRE ISSUED AND TO BE ISSUED

ORDINARY SHARE CAPITAL OF HIPGNOSIS AT APPROXIMATELY US$1,402.7

MILLION

* RECOMMENDED CASH OFFER FOR HIPGNOSIS SONGS FUND LIMITED BY

CONCORD CHORUS LIMITED

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