Film producer Seven Arts Pictures is set to return to Aim.
Seven Arts Pictures, whose films include I’ll Sleep When I’m Dead and Russia-based thriller The Winter Queen, lost its Aim quotation in March 2007 because its then nominated adviser, Insinger de Beaufort, resigned. It didn’t find a replacement within a month and moved its quotation to Plus-quoted.
Zimmerman Adams is the new nominated adviser and Old Park Lane Capital is the nominated broker.
The company has produced 31 feature films. This month Seven Arts Pictures received £5m from a production and distribution fundraising by Zeus Capital. This figure could eventually increase to £8m. This will help to reduce costs of sale by a similar amount in this 15 month financial period to June 2008 and the year to June 2009.
Seven Arts Pictures will return to Aim via and introduction so no new money will be raised. It should happen on 30 May.
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