Co. raises money through share placement
International film sales and financing group Intandem Films has restructured its finances to repay loans and fund expansion.The company, headed by Gary Smith, has raised £500,000 ($748,000) through a share placement on London’s Alternative Investment Market. Intandem will repay a loan of $74,800 while Graham Hampson Silk, a major shareholder, has agreed to convert a $674,000 loan into 10 million new ordinary shares. The London-based company plans to add six English-language pics to its slate a year. Pics will have an average budget of $25 million, within a range of $10 million to $60 million. Intandem will source comedies, thrillers and action pics from producers based in London and L.A. Pics on its slate include “Blown,” a spy thriller starring Samuel L. Jackson and Guy Pearce; hippy comedy “Sweet Baby Jesus,” starring Bette Midler, Kim Catrall and Pierce Brosnan; and “Who Is Doris Payne?,” based on a true story, starring Halle Berry as a jewel thief. All three are in pre-production. Also on the slate is Wesley Snipes starrer “Gallowwalker,” a supernatural horror Western, which is in post.