RNS Number : 4623H
Photon Kathaas Productions Ltd
20 June 2013
20 June 2013
Photon Kathaas Productions Ltd.
Trading update
As announced on 5 June 2013, the Company announced it had commenced pre- production on its latest major budget movie, Dhruva Natchatiram ("Pole Star"). The film is budgeted at approximately $9.5m and is likely to be released early in 2014. Filming had been due to start in early June, however due to an unexpected delay, filming is now anticipated to start in approximately three weeks. This delay was due to the lead male actor being required to finish other work commitments. As a result there is a consequent delay to the receipt of an initial tranche of milestone funding of US$300,000 for the film which is linked to the start of filming. As a result of these uncertainties the Company has been advised by its auditors that they will not be able to finalize the annual accounts for the year ending 31 December 2012 by 30 June 2013.
As a consequence, the shares of the Company have been suspended today pending publication of those accounts. The Company expects to be release its annual accounts in the second half of July.
Enquiries
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Photon Kathaas
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Michael Rosenberg
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020 7938 4026
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Venkat Somasundaram, Chief Executive
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+65 6224 4991
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Cantor Fitzgerald Europe (Nominated Adviser)
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020 7894 7000
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Richard Thompson /Tom Sheldon (Corporate Finance)
David Banks (Corporate Broking)
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College Hill
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020 7457 2020
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Adrian Duffield
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This information is provided by RNS
The company news service from the London Stock Exchange
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