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.