Issue of Loan Notes
January 21 2008 - 6:20AM
UK Regulatory
INTANDEM FILMS PLC ("INTANDEM" OR THE "COMPANY")
ISSUE OF LOAN NOTES
The Board of Intandem Films Plc, the AIM-listed feature film financing and
sales company, announces that it has today raised additional working capital of
�175,000 by way of an issue of an unsecured convertible loan notes for cash
(the "Loan Notes") to Graham Hampson Silk, an existing shareholder and loan
note holder.
The principal terms of this agreement are set out below:
Principal amount: �175,000
Conversion price: 5.5 pence per share represents a premium of
100 per cent. over the mid-market closing
price of 2.75p on 18 January 2007
Conversion terms: the Loan Note may be convertible into new
ordinary shares at any time (in whole or in
part) until 31 Dec 2010, other than during the
Company's Close Periods (as defined by the AIM
Rules for Companies).
Interest rate: a fixed rate of 9 per cent. per annum, payable
quarterly in arrears on full or partial
redemption of the Loan Note
Redemption conditions: the Loan Notes are repayable at the request of
the investor (in whole or in part) after 31
December 2008 on giving one months' notice.
The Company may repay the Loan Notes at any
time after 31 December 2010 upon giving one
months' notice.
On conversion, a maximum of 3,181,818 new Ordinary Shares, representing
approximately 3.8 per cent. of the existing ordinary share capital, will be
issued.
On 15 May 2006, the Company issued �192,500 unsecured convertible loan notes to
Graham Hampson Silk. On full exercise of these loan notes, together with those
issued today, Graham Hampson Silk will be interested in 6,681,818 new Ordinary
Shares representing approximately 8.0 per cent. of the enlarged share capital.
The issued share capital of the Company is 83,175,000 ordinary shares.
Contact:
Intandem Films Plc
Gary Smith
Tel: +44 (0) 20 7851 3800
Nominated Adviser to Intandem Films Plc
City Financial Associates Limited
Ross Andrews
Tel: +44 (0) 20 7492 4777
END
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