EX-99.1 2 d711807dex991.htm EXHIBIT 99.1 Exhibit 99.1

Exhibit 99.1

MILLS MUSIC TRUST

C/O HSBC BANKS U.S.A.

452 FIFTH AVENUE

NEW YORK, NY 10018-2706

March 26, 2019

Quarterly Distribution Report No. 217

To the holders (the “Unit Holders”) of Trust Certificates representing interests (the “Trust Units”) in Mills Music Trust (the “Trust”):

Enclosed you will find a check representing your share of a distribution by the Trust to the Unit Holders of record at the close of business on March 25, 2019.

This Quarterly Distribution Report relates to the payment received by the Trust from EMI Entertainment World Inc., attributable to the fourth quarter of 2018 (the “Q4 Distribution Period”).

The Trust received $138,491 ($.4987 per Trust Unit) for the Q4 Distribution Period (the “Q4 Payment”), as compared to $133,634 ($.4812 per Trust Unit) for the payment attributable to the fourth quarter of 2018.

After receiving the Q4 Payment, the Trust paid $58,897 to third parties in connection with invoices for services rendered to the Trust, leaving a balance of $79,594 (.2866 per Trust Unit). This balance is being distributed to the Unit Holders of record as of the close of business on March 25, 2019.

During the twelve month period ended March 31, 2019, the Trust’s aggregate distributions will amount to $797,608 ($2.8721 per Trust Unit), as compared to $588,152 ($2.1179 per Trust Unit) during the twelve month period ended March 31, 2018.

Additional computation details are set forth in the attached report.

The information contained in this Quarterly Distribution Report will be disclosed on a Form 8-K filed with the Securities and Exchange Commission (the “SEC”). The Trust’s SEC filings are available to the public over the internet on the SEC’s web site at http://www.sec.gov.

Very truly yours,

        MILLS MUSIC TRUST

The following is a computation of amounts available for distribution and/or the payment of administrative expenses of the Trust during the three months and twelve months ended March 31, 2019 and March 31, 2018 out of payments made to the Trust in connection with a deferred contingent purchase price obligation under the asset purchase agreement, dated December 5, 1964:

 

 

 

    

Three

Months
Ended

March 31,
2019

             Per
Unit*		  

 

  

Gross royalty income collected by EMI for the period

    $ 517,927        
  

 

 

        

Less: Related royalty expense

      235,946        

Amount deducted by EMI

      124,812        

Adjustment for copyright renewals, etc.

      18,678        
  

 

 

        
     379,436        
  

 

 

        

Balance as reported by EMI

    $ 138,491        
  

 

 

        

Payments received by Trust

    $ 138,491         $ .4987  
        

Less: Fees and expenses to Registrar-Transfer Agent and other

            administrative expenses

      58,897           .2121  
        
  

 

 

        

 

 

  

Balance available for distribution

    $ 79,594         $ .2866  
  

 

 

        

 

 

  

Distribution per Unit*

       $ .2866     
     

 

 

     

 

*

Based on the 277,712 Trust Units outstanding.

 

 

 

 

 

 

Three

Months

Ended

March 31,

2018

           Per
Unit*		    

Twelve

Months

Ended

March 31,

2019

          

Per

Unit

    

Twelve

Months

Ended

March 31,

2018

          

Per

Unit

  
$ 564,601                     $ 3,447,398                     $ 3,071,527                  

 

 

        

 

 

        

 

 

      
  281,274           1,294,987           1,222,335      
  138,302           1,011,544           871,563      
  11,391           99,675           92,935      

 

 

        

 

 

        

 

 

      
  430,967           2,406,206           2,186,833      

 

 

        

 

 

        

 

 

      
$ 133,634         $ 1,041,192         $ 884,694      

 

 

        

 

 

        

 

 

      
$ 133,634       $ .4812     $ 1,041,192       $ 3.7492     $ 884,694       $ 3.1857  
               

 

 

 

61,464

 

 

       .2313       243,584         .8771       296,542         1.0678  
               

 

 

      

 

 

    

 

 

      

 

 

    

 

 

      

 

 

  
$ 72,170       $ .2599     $ 797,608       $ 2.8721     $ 588,153       $ 2.1179  

 

 

      

 

 

    

 

 

      

 

 

    

 

 

      

 

 

  
  $ .2599         $ 2.8721         $ 2.1179