PWS.L Regulatory News (PWS)

Pinewood Shepperton plc ("PINEWOOD")

SOUTH BUCKS district council rejects £200m planning

application for the expansion of Pinewood Studios

At a meeting of South Bucks District Council ("SBDC") Planning Committee on 15 May 2013, Pinewood's planning application for an increase in studio capacity by circa 100,000 square metres was refused.

Ivan Dunleavy, Chief Executive, Pinewood Shepperton plc said:

"This is a disappointing decision by the local planning authority. It is hard to believe, given the country's economic difficulties that SBDC would turn down a £200m project creating 3,100 jobs in the vibrant and growing film and television sectors. The Company remains committed to the Pinewood Studios Development Framework and we will be studying the decision with our legal and planning team and expect to appeal the decision to the Secretary of State." 

On 1 February 2013, following extensive public consultation with a wide range of local and national stakeholders, as well as with producers and developers of creative content, the Company submitted a planning application to SBDC for the expansion of Pinewood Studios called the Pinewood Studio Development Framework.

The Pinewood Studios Development Framework is a long term scheme of national significance designed to address increasing global demand for capacity in the UK and deliver growth for the next 15-20 years. It comprises a substantial expansion of the existing Pinewood Studios by adding a total of 100,000 sq m of new facilities, including studios and stages, workshops, production offices and streetscapes for filming. Once complete, this would make a major contribution to achieving Government priority objectives to grow the UK's creative industries, promote growth and create new jobs.

A website containing further details and visual images of the scheme is available at http://www.pinewoodgroup.com/pinewoodexpansion.

Enquiries

 Notes to editors

·; Pinewood Shepperton plc is Europe's largest provider of stage and studio space

·; Pinewood, Shepperton and Teddington Studios together accommodate 34 stages, five dedicated digital television studios and five digital presentation studios

·; Pinewood Studios is home to Europe's leading studio-based underwater filming stage, as well as one of the largest exterior water tanks in Europe

·; Pinewood and Shepperton Studios have been home to over 1,500 films in more than 75 years

·; Pinewood, Shepperton and Teddington Studios have hosted over 600 TV shows

·; There are over 250 independent, media related companies based at Pinewood and Shepperton's Media Hub

·; The Pinewood Group's international network of Studios includes Toronto, Canada; Berlin, Germany; Iskandar, Malaysia; Atlanta, Georgia, USA; and the Dominican Republic. The Group has an agreement in place with joint venture partner Seven Stars Media Limited to assess a number of business proposals in the growing entertainment market in China.

·; The Group now offers financing to UK film and television production as part of its growing range of services.

Forward looking statements

This announcement includes forward looking statements that are based on current expectations and assumptions. They involve risks and uncertainties and may differ, possibly materially, from actual results, performance and achievement. Neither the Company, nor any of its directors, undertakes any obligation to update publicly or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

 For more information

 www.pinewoodgroup.com

Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website, nor any other website, is incorporated into, or forms part of this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.