Magazine article Screen International

Pinewood to Raise $44M for Studio Expansion Plans

Magazine article Screen International

Pinewood to Raise $44M for Studio Expansion Plans

Article excerpt

The funds will be raised through the placing of 8 million shares at a price of $5.54 (£3.75) per share.

Pinewood has also agreed new bank facilities of up to $200m (£135m) with Lloyds Bank, The Royal Bank of Scotland, HSBC and Barclays Bank that will also be used to finance the building work.

The expansion plans, which are known as the Pinewood Studios Development Framework (PSDF), are intended to address "capacity constraints" by doubling the existing capacity of Pinewood Studios through the addition of 323,000 sq ftof studios and stages, including three studios of 40,000 sq ft.

Pinewood chief executive Ivan Dunleavy said: "Today's announcement represents another significant step forward in the on-going development of the company and the implementation of PSDF to the benefit of shareholders as a whole and the UK creative industries.

"The board is encouraged by the visibility of the level of forward bookings for the next financial year. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.