PREMIERE CLOSE DEAL ON PERRIER'S BOUNTY

November 2008

Premiere are delighted to announce along with Parallel Films and Number 9 Films that production has   commenced on Perrier's Bounty, starring Cillian Murphy, Jim Broadbent and Brendan Gleeson. The film is being directed by Ian Fitzgibbon (A Film With Me In It) from a script by Mark O'Rowe (Boy A, Intermission).

 
Set in contemporary Dublin , Perrier's Bounty is a fast paced comedy-thriller featuring three unlikely fugitives on the run from gangster supremo, Perrier, who is desperate to retain his pride and cash after the accidental murder of one of his loyal gang. With only 24 hours to escape certain death, the trio must beat the clock, stay awake, and above all, pay Perrier's bounty. 

Murphy (The Edge of Love, The Wind That Shakes the Barley, Breakfast on Pluto, Red Eye, Batman Begins) is set to play the lead, with Broadbent (upcoming, Inkheart, Indiana Jones and the Kingdom of the Crystal Skull, Hot Fuzz, The Chronicles of Narnia) as his long-lost father. Gleeson (upcoming, Paul Greengrass' Greenzone, title role in HBO's Churchill, In Bruges, the Harry Potter films, Gangs of New York, 28 Days Later) will take the role of Perrier. 
 
The film will be produced by Alan Moloney from Parallel Films and Stephen Woolley and Elizabeth Karlsen from Number 9 Films, whose last production How To Lose Friends & Alienate People opened Number 1 at the box office in UK and Ireland and has grossed over $7m so far at the box office.

The film started shooting from November 10th on location in Dublin , London and Louth in Ireland . It will be Ian Fitzgibbon's second feature following A Film With Me In It, which debuted successfully this weekend in Ireland .

 
Perrier's Bounty, a Parallel Films and Number 9 Films production with the participation of Bord Scannán na hÉireann/the Irish Film Board , Limelight and Premiere Picture. Optimum have taken UK and Irish rights. HanWay will handle worldwide sales at the forthcoming AFM.
 
HanWay Films' current slate includes ‘Franklyn' starring Eva Green, Sam Riley and Ryan Phillippe, Terence Davies' Of Time and the City, in which Premiere was also involved. Upcoming films include ‘Creation' starring Paul Bettany and Jennifer Connelly, Scott Hicks' The Boys Are Back In Town starring Clive Owen, from Tiger Aspect, and Harry Brown starring Michael Caine, produced by MARV Films.

PREMIERE PICTURE SLATE EXPANDS – CANNES UPDATE

20 May 2008

UK film finance house Premiere Picture has reached agreement to provide more than $30 million of finance to a range of projects, and is looking to add further pictures to its slate in Cannes .  

Newly signed pictures include “Welcome to the Rileys”, and “The Diary”, in collaboration with Future Films. “Welcome to the Rileys” is the second feature to be directed by Jake Scott. Ridley Scott is executive producer, alongside brother Tony Scott, John Wells and Michael Costigan as well as Future Films' Stephen Margolis and HandMade's Guy Collins. Rileys is shooting under a new venture between Scott Free, Future Films and HandMade Films.  “The Diary” is the latest project from Oscar-winning director Bille August.

Premiere Picture also said that it is adding broadening the range of funding arrangements under its unique Sovereign sole trading structure.  Said Premiere's Adam Betteridge:  "As well as being attractive to investors, Sovereign finance offers a number of benefits for producers, normally providing them with around 10-25% of the unsold territory value acquired in exchange for a negotiable recoupment corridor. The projects do not need to be British qualifying but should have strong commercial elements, and be in the $5-20 million budget range. We also look at projects with budgets outside this range on a case-by-case basis.”

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SOVEREIGN SOLE TRADERS CONTINUE TO RIDE HIGH AFTER AUTUMN 2007 PRE-BUDGET REPORT

Following Chancellor Alistair Darling's debut pre-Budget report on Tuesday October 9th, the continued focus by Her Majesty's Revenue and Customs on tax avoidance schemes was one of the less widely reported issues.

Financial advisers, tax accountants and their clients have seen a number of arrangements designed to avoid Income Tax and Capital Gains Tax abolished with immediate effect. It is clear that HMRC are continuing to act swiftly against tax avoidance schemes notified under the avoidance disclosure rules.

We are therefore pleased to advise that our Sovereign film rights trading proposal continues to remain unaffected, with HMRC fully aware of the tax mitigation structure we have developed.

Sovereign is a financial structure in its third successful year of operation which allows high net worth individuals acting as sole traders to trade film rights for profit. The structure is one of the few unaffected by the changes in UK Government treatment of film schemes earlier this year, largely as it is based on trading rather than tax avoidance. Premiere Picture Services acts as agent managing the day-today trade, including sourcing suitable film rights from film producers, arranging their purchase and their ongoing exploitation.  

The key features of Sovereign are:

• An attractive potential upside from the exploitation of a slate of film rights with a minimum
• forecast net return of 135% (for 40% taxpayers);
• Downside protection provided by a built-in tax mitigation strategy enabling individuals to
• shelter income and capital gains tax over a number of years;
• A business proposal in its 3rd consecutive year of operation and non-disclosable for tax
• purposes;
• Unaffected by recent Government legislation;
• Management of an experienced film team;
• Supporting opinions from leading tax counsel Jonathan Peacock QC, from legal advisors DLA
• Piper and Howard Kennedy, and from accountants MRI Moores Rowland (now Mazars LLP).

The present unpredictability in the financial markets and the continued HMRC moves against tax

avoidance schemes present much uncertainty for individuals and their advisers.

By contrast, our Sovereign proposal provides a highly attractive return on capital with the added benefit of individuals being able to shelter income and capital gains tax.

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THE WORKS UK DISTRIBUTION HAS ACQUIRED UK RIGHTS TO RICHARD ATTENBOROUGH'S 'CLOSING THE RING'

Screen Daily - Wendy Mitchell in London, 15 Oct 07 

The deal was struck with sales company ContentFilm International, which will announce a US deal for the film soon.

The Works plans a UK and Irish theatrical release on Dec 28. The film has its UK premiere on Oct 21 a the London Film Festival after premiering in Toronto .

The film is a love story set in the present day and in World War II. Shirley MacLaine, Christopher Plummer, Mischa Barton, Brenda Fricker, Neve Campbell and Pete Postlethwaite star.

ContentFilm has previously sold Closing the Ring to territories including Spain (Manga), Japan (Shochiku), Germany (Telemunchen), Australia (Hopscotch), the Netherlands (A-Film), and Canada (Odeon).

Mick Southworth, managing director of The Works UK Distribution, said: It is a great honour to represent this terrific picture from Lord Attenborough. We expect Closing The Ring to be particularly successful in cinemas across Ireland where it was filmed.

Meanwhile, The Works has brought on Mervyn Andrews as head of Irish distribution, and Closing the Ring will be the first film release he oversees. The industry veteran has worked for Walt Disney Productions, PolyGram, Redbus, and Lionsgate.

Southworth said: I have known and worked with Mervyn all my business life and there is simply no one better in the industry to lead our distribution activity in Ireland.

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FILM FINANCIER PREMIERE PICTURE APPOINTS HEAD OF

NEW BUSINESS DEVELOPMENT AND CLIENT COMPLIANCE

Premiere Picture continues to extend its operations and has appointed Kevin Williams to head up new business development and client compliance.   Kevin joins Premiere from the international tax team at Thomas Eggar Solicitors where he was primarily responsible for practice and business development.   He has wide experience of tax planning for high net worth individuals, family companies and entrepreneurs both in and outside the UK, ranging from personal tax planning through to the creation of offshore private family trusts and tax efficient structures.

Adam Betteridge, Chief Operating Officer of Premiere Picture, said: “Kevin's extensive experience in business development and in both financial and tax planning will help us to fulfil our ambitious growth strategy, building on the continuing high level of interest in Premiere Picture Sovereign, our successful sole trader rights trading product.   With Sovereign being one of the few film financing products left standing after the Chancellor's review earlier this year, we are seeing an exciting period of company growth, continuing excellent commercial returns for our clients and the opportunity to back more film projects.”

In addition to pure taxation advice, Kevin has significant experience of general financial planning, practice development and has written and provided comment extensively in the press.   Beginning his career with HM Revenue and Customs, he subsequently moved to Ernst and Young and then KPMG for a combined period of seven years.   To further broaden his experience, he then worked at a leading financial planning group with responsibility for business development and clients based in the Far East, and also with the Royal Bank of Scotland Group providing technical assistance to the group's Private Banking division.

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PREMIERE PICTURE EXPANDS OPERATIONS
FOLLOWING MAJOR EQUITY INVESTMENT

Film financier and production company Premiere Picture is significantly extending its operations following an equity investment in the group from an offshore private equity fund.  The group’s development plans include expansion of its sales and production departments, and opening a new London office which will further strengthen its relationships with the UK financing and film production community, and with City-based investors.

Since its foundation in 2002, Premiere Picture has set up and advised on numerous film financing schemes and products, both in its own right and for other parties, including several Hollywood studio partnerships.  The group was one of the first to use the sole trader structure, through its Sovereign product, which was unaffected by the Government’s clampdown on film financing schemes earlier this year.

Sovereign is a highly flexible structure, attractive to high net worth individuals, that can also be used in financing other investments with a similar income profile, and may lead to diversification of the group’s investment structures outside the film industry in the future.  Sovereign has recently backed a number of European and US productions, including Deco Entertainment’s picture, “Gospel Hill”, set to star Samuel L. Jackson, and has already raised significant funds for its summer 2007 slate.

As part of the deal, a new group holding company, Premiere Capital plc, has been formed and all companies in the group, including producer/financier Great British Films, will now operate under the Premiere Picture brand.  The new holding structure also enables the introduction of further capital in the future.

Premiere Picture’s COO Adam Betteridge said: “This injection of capital is a significant development for Premiere, which allows us to build rapidly on the unique market position we occupy with Sovereign, one of the few film investment products left standing after UK Government announcements earlier this year.  We have a strong slate of films going into production later this year, and our 2006/07 slate is already generating significant distribution income for our traders.”

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GLOVER, BASSET, STILES LINE UP TO CLIMB 'GOSPEL HILL'
Jeremy Kay in Los Angeles for Screen Daily
18 Jun 2007 23:46

Danny Glover, Angela Basset, Julia Stiles, Simon Baker, Adam Baldwin and The RZA have singed on to the political drama GospelHill from newly launched Deco Entertainment.

Giancarlo Esposito makes his directorial debut based on a screenplay he co-wrote with Jeff Stacy and Jeffrey Pratt Gordon. Spain's 6 Sales is handling sales.

The story centres on a former sheriff and former civil rights activist who are haunted by a man's death 30 years earlier.

When old dangers resurface to threaten their community, the men embark on a redemptive journey to prevent history from repeating itself.

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GLOVER, BASSETT, RZA TOPLINE ‘'GOSPEL HILL'’: Political drama directed and co-written by Giancarlo Esposito.
(May 21, 2007) www.Eurweb.com

*Danny Glover, Angela Bassett and rapper RZA have been cast in “Gospel Hill,” a film from the Los Angeles-based production company Deko Entertainment that marks the directorial debut of actor Giancarlo Esposito.
Julia Stiles and Simon Baker also star in the political drama, described by Deko partner Emerson Machtus as a "coming-of-age film for the civil rights movement and the U.S. in general."

The contemporary story follows the former sheriff of a southern town dealing with past sins, and the former civil rights worker withdrawn since the martyrdom of his brother thirty years before. Their final confrontation comes when a corporation descends on the town, echoing a struggle some thirty years old.

Esposito also co-wrote the screenplay, along with Jeff Stacy and Jeffrey Pratt.  Principal photography is scheduled to begin June 11 in South Carolina.      
Twentieth Century Fox acquired North American rights to "Gospel Hill," the first project from Deko Entertainment. 

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FOX READING 'GOSPEL HILL':
Studio takes North American rights for film

By JOHN HOPEWELL
Posted: Fri., May 18, 2007, 4:00pm PT  www.Variety.com

Twentieth Century Fox has taken North American rights to "Gospel Hill," the first project from the Los Angeles-based production company Deko Entertainment.
The deal includes a commitment for a theatrical release, Deko partner Emerson Machtus said.

Madrid-based sales consortium 6 Sales is handling international.
A political drama, "Gospel Hill" toplines Danny Glover, Angela Bassett, Julia Stiles, Simon Baker and rapper-actor RZA.
Marking the directorial debut of actor Giancarlo Esposito "Derailed", "Hill" is the contemporary tale of a former sheriff and former civil-rights activist who revisit the 30-year-old death of another rights worker.

From a screenplay by Esposito, Jeff Stacy and Jeffrey Pratt Gordon, "Hill" is a "coming-of-age film for the civil rights movement and the U.S. in general," Machtus said.
It will initiate principal photography June 11 in South Carolina.

Deco Entertainment was launched in early 2007 by producers Freddy Braidy, who is co-producing "The Heart Is Deceitful Above All Things," and the upcoming "Blonde Ambition" with Jessica Simpson and Luke Wilson; BAFTA-winning Cerise Hallam Larkin; and Machtus, who formerly headed up international acquisitions for Bauer Martinez Intl.
Per Machtus, "We will be making mid-range, normally English-language projects: sharp material that can attract assets to drive financing."

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PREMIERE PICTURE SCHEME UNAFFECTED BY CLAMPDOWN

Tim Adler, Screen Finance March 21st 2007

Premiere Picture Sovereign, the film investment scheme run by Premiere Picture, has been left unaffected by the Treasury clampdown.

Accountants and other observers say that Premiere Picture Sovereign is the “Last man standing” among the Generally Accepted Accounting Principle (GAAP) schemes recently outlawed by HM Revenue and Customs. This is because of its unique structure that differs from other GAAP schemes put out of business by HMRC earlier this month.

Premiere Picture Sovereign has invested in conman comedy Save Angel Hope starring Eva Birthistle and Kill Kill Faster Faster, produced by Carlo Dusi and Kees Kasander.

Premiere Picture has invested in 32 films in total representing £100 million-worth of production. Titles include children’s film Tooth, Plots With a View and Strayed, starring Emmanuelle Beart being sold by Wild Bunch.

Premiere Picture Sovereign launched in December 2005 with advisors including tax barrister Jonathan Peacock and legal advice offered by DLA Piper working alongside Howard Kennedy. Accountancy firm MRI Moores Rowland is handing the accounting side.

The company has also helped to develop Richard Attenborough’s new feature Closing the Ring, a love story set in the Second World War, being sold by Content Film.

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