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Intandem Films Plc Announces Placing


Wednesday, 12 Jun 2013 02:00am EDT 

Intandem Films Plc announced that it has conditionally raised GBP831,000 (before expenses) by means of a Placing of 166,200,000 new Ordinary Shares at a price of 0.5 pence per new Ordinary Share to new and existing investors. The Company has also entered into a GBP1 million Equity Financing Facility (EFF) over a period of 36 months with Darwin Strategic Ltd. Darwin is a majority owned subsidiary of Henderson Global Investors' Volantis Capital. The Company intends to utilise the proceeds of the Placing to pay down short term debt, to secure select commercial projects and for general working capital purposes. Any requirement for future funding, including use of the EFF, will be dependent on the commercial progress the Company can report during 2013. 

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