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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ingenious Music | LSE:IGM | London | Ordinary Share | GB00B05L0J61 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 67.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9991J Ingenious Music VCT PLC 17 December 2007 Ingenious Music VCT plc ("the Company") Interim Management Statement For the period 1 August 2007 to 14 December 2007 INVESTMENT ACTIVITIES & PERFORMANCE We are pleased to report that following investments in Sirens and Peter Gabriel's Real World Records, Ingenious Music VCT plc has now fully committed the fund. This last investment complements an already diverse portfolio of emerging talent and established musical acts. It is usual during the Christmas period for the UK music market to be saturated by a flurry of major artist albums, compilations and re-releases. It is therefore not surprising that Ingenious Ventures Limited ("the Manager") has reported that the release of a number of albums backed by the Company have been re-scheduled for the early months of 2008. The record companies and the Manager both feel that this will give the artists a better chance of commercial success as a release in the Christmas market could easily be lost. The Manager continues to monitor all of the Company's investments and the Company has begun to receive royalty accountings in relation to the albums already released. 1. Sirens Formed in the late 1990s, Sirens are a three-piece girl band with a sound that is an exciting fusion of Motown Soul and Missy Elliott cool. Signed by Kitchenware Records in 2002, their last album, 'Control Freaks', was a success in the UK, Europe and Japan. They are currently working on their second album, 'La La Land', in conjunction with producers Wayne Rodrigues (Natasha Bedingfield), Justin Trugman (Eminem, Janet Jackson) and DeeKay (Lemar, Misteeq). The album will be mixed by Dave Pensado who is noted for his work with Christina Aguilera and The Black Eyed Peas. 2. Real World Records Real World Records was launched by Peter Gabriel and WOMAD in 1989 to provide talented artists from around the world with state-of-the-art recording facilities and gain exposure to audiences beyond their geographic region. Artists signed by Real World Records to date have included: The Blind Boys of Alabama, Nusrat Fateh Ali Khan, Afro Celt Sound System and Sheila Chandra. Since then, the company has achieved considerable success with sales of nearly 6 million albums, with 15 of the albums breaking the 100,000 units barrier. The co-investment in Real World Records from the Company and Ingenious Music VCT 2 plc provides the label with a total funding budget of £1.75 million to sign and release a roster of 10-15 artists. NET ASSET VALUE 30 November 2007 31 July 2007 Net assets attributable to shareholders (£'000) 13,733 13,833 Shares in issue (number) 15,093,283 15,093,283 A copy of this interim management statement can be obtained from the following website: www.londonstockexchange.com Enquiries to Sarah Cruickshank Ingenious Ventures Limited 15 Golden Square London W1F 9JG 0207 319 4000 This information is provided by RNS The company news service from the London Stock Exchange END IMSFGMMZVDKGNZM
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