James Bond studio Pinewood announces £30m fundraising to double its capacity
It's the studio where James Bond has battled villains, Harry Potter has cast off his muggle side and Superman has proven, once and for all, that he's definitely not a bird or a plane.
Now Pinewood Studios in Buckinghamshire has announced plans for a £30m share issue to raise funds to help it build extra studios. Under the plans, eight million shares will be placed, at 375p per share. The news sent shares in the Aim-listed company down 2.47 per cent, to 414p.
The company added it had also secured new bank facilities of up to £135m with Lloyds, RBS, HSBC and Barclays.
The extension will include 100,000 sq m of studios (Source: Pinewood)
Under its expansion plans, the 76-year-old studio – which built the first underwater stage in Europe – aims to double its capacity in the next 12 year, with a scheme to build another 100,000 sq m of new facilities, including 12 stages and the supporting infrastructure.
The company has said the new scheme, which will cost it £200m, will provide over 8,100 full-time jobs, generating £36m of tax payments per year.
Today Ivan Dunleavy, Pinewood's chief executive, said the announcement "represents another step forward" for the company