Intandem Films plc (AIM: IFM, "Intandem" or the "Company"), the London based international film group, is pleased to announce that it has conditionally raised £831,000 (before expenses) by means of a Placing of 166,200,000 new Ordinary Shares ("Placing Shares") at a price of 0.5 pence per new Ordinary Share ("Placing Price") to new and existing investors. The issue of the Placing Shares is conditional, inter alia, on the passing of the Resolutions at a General Meeting. The Company has also entered into a £1 million Equity Financing Facility ("EFF") over a period of 36 months with Darwin Strategic Limited ("Darwin"). Darwin is a majority owned subsidiary of Henderson Global Investors' Volantis Capital. Further details of the EFF can be found below. Highlights · Intandem has conditionally raised £831,000 (before expenses) · Entered into a £1 million Equity Financing Facility over a period of 36 months · Has nine fully contracted films; four of which are fully financed The Company intends to utilise the proceeds of the Placing to pay down short term debt, to secure select commercial projects and for general working capital purposes. Any requirement for future funding, including use of the EFF, will be dependent on the commercial progress the Company can report during 2013.
12 Jun '13
what did i say for last 7mths, dont, follow this P and D placing @ 0.5p
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