PWS.L Regulatory News (PWS)

5 Mar 2007 14:37

Pinewood Shepperton plc05 March 2007 Pinewood Shepperton plc Response to HMRC Tax Policy Announcement Pinewood Shepperton plc ("The Company") notes the announcement issued by HerMajesty's Revenue and Customs on Friday 2nd March which signals a significantchange to the treatment of trading losses of individuals in partnerships. Thischange will affect the ability of individuals in partnerships to claim sidewaysloss relief with immediate effect. Pinewood Shepperton believes that the favourable tax environment for UK filmcreated by recent Government legislation, and the creative excellence offered tofilm makers by the UK film industry makes the UK an attractive and long-termdestination for making films. However, a number of film production companies usefinance partnership structures as one of their sources of funding and thechanges in legislation announced on Friday may affect the ability of some filmprojects to achieve the financing necessary to commence production. The Board will provide a further update at the time of its preliminary resultsannouncement on 27 March 2007 if there should be any material delays orcancellations to planned film projects. Notes to Editors: A full text of the HMRC announcement may be found using the attached link: www.hmrc.gov.uk Enquiries: Tom Buchanan / James Olley Brunswick 020 7404 5959 This information is provided by RNS The company news service from the London Stock Exchange