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Photon Kathaas (PKP)

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Thursday 20 June, 2013

Photon Kathaas

Trading Update

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

 

Photon Kathaas


Michael Rosenberg

020 7938 4026

Venkat Somasundaram, Chief Executive

+65 6224 4991



Cantor Fitzgerald Europe (Nominated Adviser)

020 7894 7000

Richard Thompson /Tom Sheldon (Corporate Finance)

David Banks (Corporate Broking)




College Hill

020 7457 2020

Adrian Duffield


 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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