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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Utv Motion | LSE:UTVM | London | Ordinary Share | IM00B1XD9T43 | ORD USD0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.80 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1970E UTV Motion Pictures PLC 20 September 2007 FOR IMMEDIATE RELEASE 20 September 2007 UTV Motion Pictures Plc Finalisation of financing for The Happening UTV Motion Pictures Plc (AIM: UTVM) ('UTVM' or the 'Company') is pleased to announce that, further to disclosures made in its admission document dated 26 June 2007, the Company has finalised arrangements for the production of the live action movie The Happening. Further to the memorandum of understanding signed with Blinding Edge Pictures Inc. (a movie production company established by the director, M. Night Shyamalan) an agreement has now been signed with Twentieth Century Fox Film Corporation ("Fox") for the financing of 50 per cent. of the cost of production. The cost of production of The Happening is estimated at $67 million, split equally between the Company and Fox. The Company's commitment, under the agreement for $33.5million, has been met with the issue of letter of credits by two financial institutions which matures in 24 months. The movie is expected to be completed within the next 24 months and world wide distribution of the movie is being arranged by Fox. Revenues from The Happening will be split equally between the Company and Fox. ENDS CONTACTS UTV Motion Pictures Plc +91 22 2495 2513 Siddharth Kapur - Chief Operating Officer Grant Thornton (Nomad) +44 (20) 7383 5100 Fiona Owen This information is provided by RNS The company news service from the London Stock Exchange END MSCBXGDCIDDGGRG
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