Jubilee Pictures plc
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Jubilee Pictures plc
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Press Release: March 1st,
2005 Jubilee Pictures plc launches
under the Enterprise Investment Scheme The
Directors of Jubilee Pictures plc are pleased to announce that they are looking
to raise up to £6 million in order to develop and produce a library of films to
be exploited across all media in order to provide an ongoing return to
investors. The
Company has a very strong board headed by Chairman and Emmy award winner, John
Goldsmith who has over 30 years experience in the film industry. The directors include
Crispin Manson and Jon Kirby, who will be actively involved in film development
and production, and are further supported by their Adviser to the board, Stephen
Evans – a highly respected producer who has two Oscar wins and a further nine
nominations. Stephen has produced thirteen films, all of which have been
released in the UK cinema. Also on the board is Finance Director, Malcolm
Jessup. Malcolm has 30 years experience as a Chartered Accountant and has acted
as a finance director in the past for both television and film companies. Jubilee
Pictures, unlike many film EIS issues, is seen as an ongoing business, and will
operate with the intention of not just making one film, but continuing to make
films over a long period. Thus generating a library of films which will help to
reduce the risks for investors. The
key business strategy is to underpin at least 40% of each film’s budget with
pre-sales and/or other committed sources of finance. The Board will not green
light a production until this is in place. Such monies will be treated as
initial income and thus a film may recoup 40% of its budget before any film
sales have been made. In
addition, investors will benefit from the many EIS tax breaks. These include a
20% income tax rebate on their investment, the possibility to defer up to 40%
capital gains tax and the ability to alleviate inheritance tax on the investment
after holding it for two years. The Inland Revenue has given provisional
confirmation that the company qualifies for the reliefs available under the
Enterprise Investment Scheme legislation. As
an additional benefit, investors will be encouraged to visit the sets of the
films being made and even to take part as extras where the scripts allow. They
will also be invited to private screenings and to the films’ premieres when
released. Further
questions should be put to Mr. Crispin Manson or Mr. Jon Kirby at Jubilee
Pictures on 020 7493
7890. Email: info@jubileepictures.co.uk -
Ends - Notes
for Editors
Further
information on the Company and the initial library of films the Directors intend
to make can be obtained from Crispin Manson or Jon Kirby at Jubilee Pictures on
020 7493 7890, or from the Company’s website at www.jubileepictures.co.uk.
Investors can also download a prospectus from the website. Further
information on the tax reliefs available under the Enterprise Investment Scheme
can be found in the Prospectus or on the Inland Revenue website at www.inlandrevenue.gov.uk. |
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