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Intandem Films PLC
15 June 2005

Intandem Films Plc (the 'Company')

Directorate change





The Board is pleased to announce that Alastair John Kennedy has been appointed
as Finance Director with immediate effect. Mr Kennedy is a Chartered Accountant
having trained at Ernst and Young. Mr Kennedy was previously employed by
Electronic Arts UK Studio where he was finance director for four years.



Save as disclosed below, there are no further details required to be disclosed
pursuant to schedule 2(f) of the AIM rules.





Andrew McWhirter, the previous Finance Director, resigned as a director of the
Company and the Board accepted his resignation 14 June 2005. Mr McWhirter's
part time consultancy contract with the Company has been terminated.



Alastair John Kennedy, age 41

Current Directorships Past Directorships

Vacationer Ltd None




End


IFM is a film finance company which joined AIM this quarter. It creates a revenue stream and turns a profit by taking a % cut of feature films - helping with both production & promotion/marketing activities. Several films on the books this year including films previewed at Cannes in May 2005.
New Finance Director announced today previously with Electronic Arts (ERTS on NASDAQ) - over 5 years seeing a share price climb from ~$28 to the $60 mark today. One to watch - literally! DYOR

Further info: www.intandemfilms.com

Maybe your right on a general basis sd but surely with proven active companies like Stephen Woolley and Channel 4 together with the team at Intandem, the process will be quicker and as soon as they make announcements, it is a demonstration of that activity. I have read an interview with Mr Woolley that Stoned was in development for several years before Intandem came along and put it together in six months. At least they're getting funding from third parties for development. Like I said, I will wait for more positive signs before taking the plunge, but this has huge upside potential as, like an oil exploration company, it only needs one strike to make a massive difference....just look at Cairn!

With oil, when you look for it right through to when you find it, you know it's worth $65 a barrell. With a film, when you start it right through to when you've fininshed it, you have no idea what it's worth until you start to market it. Big difference.

Altoid - you must be able to find better shares to invest in somewhere in the UK markets.

However, I do wish IFM well, since I am a well-invested champion of their broker/NOMAD DGT.

sd

Screen International reviews STONED [ 10/08/2005 ]

Mike Goodridge in Los Angeles 10 August 2005

Dir: Stephen Woolley. UK. 2005. 102mins.

Veteran UK producer Stephen Woolley makes an accomplished directorial debut with Stoned, an absorbing portrait of Brian Jones, the founding member of The Rolling Stones, and the events surrounding his death on July 2, 1969. Rich in period atmosphere and music, the film possesses the same knowing style and historical intrigue as Scandal and Backbeat, both of which Woolley produced.

Like those titles, Stoned should cause a stir in theatrical markets (it is pencilled in for a November 11 release in the UK), especially given the publicity that will be generated by its rock legend subject, the salacious alleged murder at its heart and the enduring popularity of the Stones themselves who have a new CD and tour which kicks off later this month.

Playing at a slew of film festivals this season it enjoys a world premiere at Edinburgh, followed by Toronto, San Sebastian, Rio De Janeiro, Dinard and Stockholm Stoned will pick up attention wherever it screens, setting tongues to wagging and journalists to scribbling.

Based on three books published in the 1990s, the film explores the last three months of Jones life in which Frank Thorogood, the builder renovating his country pile, developed a close relationship with his new boss and was present the night when he drowned in his swimming pool. Both Thorogood and Jones had been taking large quantities of drugs and alcohol. A verdict of death by misadventure was recorded at the time.

In 1993, on his deathbed, Thorogood allegedly confessed that he murdered Jones. The subsequent books, including one by Jones Swedish girlfriend Anna Wohlin, who was also at the house on the fateful night, all asserted that the death was not accidental.

Playing Thorogood and proving again that he is one of the UKs most compelling actors is Paddy Considine, this time sporting a thick London accent. A veteran of World War II, Thorogood was a fairly straight fellow who lived a dreary life in post-war suburbia.

When his best friend, the slick, dubious Stones manager Tom Keylock (Morrissey) enlists him to supervise some home improvements at Cotchford Farm, the East Sussex house where Jones (Gregory) lives, Thorogood is reluctant to take on the job and immediately resistant to the neuroses and apparent helplessness of the rock star.

Slowly, however, he becomes intoxicated by Jones charisma, sexual magnetism and louche lifestyle. Despite continuous mockery and taunts from Jones and his entourage, Thorogood proves a dependable housekeeper, cook and friend, and even becomes sexually enamoured of his boss.

But Jones, who had long since stopped working with the band and was burning through money fed him by the Stones organisation with increasing resistance, never treats his builder as anything more than a glorified servant.

Jones himself is cursed by a lack of work ethic and self-discipline, some extreme sexual peccadillos and an increasing propensity to self-destruction. Although the unquestioned guiding hand behind the creation and musical direction of the Stones, he was fired from the band shortly before his death and had lost the love of his life Anita Pallenberg (Mazur) to Keith Richards (Whishaw).

The film is most beguiling as a portrait, never more relevant than in todays celebrity-obsessed popular culture, of that mysterious star quality possessed by figures like Jones and the allure it holds for the people around them. The glamour, affluence and sexual shenanigans of the famous are in this case dangerously bewitching to the common man.

The chief shortcoming with the film lies in its narrative structure. As scripted by Robert Wade and Neil Purvis, Stoned attempts to tell the history (in flashback) of Jones and the bands rise to fame, in parallel with the Jones/Thorogood story.

While the Jones/Stones background gives context to the Jones character, it distracts from the Jones/Thorogood story which in itself is more dramatic. Likewise the films point of view veers between Jones and Thorogood, who is arguably ironically - a more fascinating character.

Woolley displays a second-nature grasp of his camera and his actors and pulls off some memorable scenes, notably one in which Wohlin (Novotny) is goaded by Jones to seduce Thorogood as well as the tense climactic build-up to the drowning.

Leo Gregory, a young English actor with upcoming credits including Green Street Hooligans and Tristan And Isolde, is generally successful at creating a seductive character in the amoral Jones, a former public school boy who commanded the respect of his musical peers like Hendrix and Lennon before his death at the age of 27.

The director did not enlist the participation of the surviving Stones in the production, and ensures that Richards and Mick Jagger are secondary characters with little part to play in the downward spiral of Jones life.

Like with The Beatles in Backbeat, there is no Stones music on the soundtrack; instead the film effectively employs the blues standards which were covered by the Stones in Jones time as well as other classics of the period like White Rabbit, Lazy Sunday Afternoon and Time Is On My Side.


More news

Stockdog you are correct but you are also wrong ! Oil exploration companies are worth little until they find that pool of oil. Then they become mighty giants. It is exactly the same with IFM. One blockbuster will see this trading in the teens two...three...who knows ! The whole of the stockmarket is a gamble however with this priced at less than the floatation price it is certainly worth buying at these levels prior to any news which may drive the stock higher.

BP and SHELL were minnows previosely ! So was FOX and TIME WARNER

The real answer is you or I really do not know but in terms of risk/reward it is certainly worth a punt.

My point was that each new film is an entirely new product - it may be oil - it may be rocks - you don't know till you've spent all the money - their price in the market is different. Tell me where the futures market in films is - Chicago, New York, Toronto - it's not a commodity, it's a consumer product.

Fox and Warners make films for $40-140million until they get it right and then spend 10's of millions marketing them. STONED probably cost 4 million and I bet the budget was skin tight and they had to compromise ont he script and when they'd found out what they'd got there was no extra money available to make it better than it was. It will be lucky of it gets a half decent US release which will cost at least $10million - who is releasing the film in the US? This is crucial not jsut in terms of how it does there, but as platform to underpin the entire rest of world release.

STONED - festival darling - box office, who knows (or cares)? I've known Steve Woolley since he was a teenager running the Scala Cinema - great chap - but he has had mixed fortunes to say the least.

Interesting book to read about Steve and Nick Powell (now runs National Film School) from their Palace Days, called "The Egos Have Landed" - enjoy.

Wish him, you, it all the best, but it is not a business to be relied upon for your pension plan.

sd

I get the feeling that you should be holding premium bonds SD or just going for FTSE100 stocks !

Not sure you get very far in life throwing childish insults out at people who offer genuine advice - just need to quietly decide not to follow it. Not to jump into a river full of rapids is not necessarily the same as being afraid to swim.

SD, I respect your views as you clearly have experience of the film world and the stockmarket. My whole reason for looking at this share is that the gearing potential is huge. I am working on the basis that if the company can get a flow of projects, one of them will generate at least the market cap in revenue and provided they keep control of overhead, most of that revenue will flow through to profits. I have looked into the film world a great deal over the last few months and I believe that the main driver at the moment is DVD but in the future the internet will help to drive revenues higher by bringing in more customers, albeit at a lower price. You've made it clear that for whatever reason you don't like the company but you're obviously fascinated otherwise preumably you wouldn't waste your time posting on the board.
By the way, presumably you're an investor in Circle Oil

Distribution Agreement

Intandem Films Plc ( "Intandem" or the "Company")

Distribution Agreement

The board announces that the Company has secured the UK distribution for the
feature film Stoned (the "Film") in a co-distribution agreement between
Intandem and Vertigo Films.

It is anticipated that the Film will be launched in cinemas in the United
Kingdom and Ireland in November 2005 followed by a DVD release in the Spring of
2006.

Under the terms of the agreement with the Film's financier, Audley Films,
Intandem will be entitled to revenue from the direct distribution of the Film
in the United Kingdom and Ireland from cinemas, DVD, all forms of television
and airlines.

Intandem is the worldwide sales company for the Film and the UK distribution
agreement follows sales to Japan, Benelux, Brazil and several other
territories. Intandem is also in negotiations for distribution agreements in
the United States, Germany and France.

Following the Films premiere at the Edinburgh Film Festival, Stoned has also
been invited to several prestigious, international film festivals that take
place during September and October of 2005 including Toronto, San Sebastian,
Dinard, Chicago and Rio de Janeiro.

Intandem is also pleased to announce that it has secured a worldwide
distribution agreement for a soundtrack of the music from the Film with Milan
Music, a specialist soundtrack company whose offices are in Paris and Los
Angeles. The soundtrack album for Stoned is planned for release in the UK
through Warner Records to coincide with the cinema release in November.
Internationally, the soundtrack will be distributed through Universal Music.

Stoned is a feature film based on the last three months of the life of Brian
Jones, the founder of The Rolling Stones, who died in his swimming pool in
1969. It has generated controversy in the media as it challenges the official
verdict of "Death by Misadventure."

Gary Smith, Chairman of Intandem, commented:

"We are delighted to be linking up with Vertigo Films for the UK release of
Stoned. They share our marketing vision for the film and we are looking forward
to the release in November. The soundtrack deal will ensure that we have a
comprehensive campaign for the release of Stoned featuring the internet,
targeted publicity, advertising and a soundtrack album available in the record
stores. As Brian Jones was an original rock'n' roll rebel who died at the age
of 27, the film should appeal to young people as well as the audience who were
around in the 1960s"

Notes

Intandem was established in November 2003 and was floated on AIM in April 2005.
It is a feature film company which arranges finance for the producers of films
and acts as an international sales company. It does not invest in the
production of films.

Vertigo Films is a UK producer and distributor of films. It has previously been
responsible for The Football Factory which to date has sold over 500,000 units
on DVD and is the producer of The Business which is currently on general
release and this week entered the U.K box office charts at number 5.

Audley Films is a film production and finance company that financed the
production of Stoned.

Stoned was directed by Stephen Woolley and stars Leo Gregory, David Morrissey,
Paddy Considine, Monet Mazur Amelia Warner, Tuva Novotny, David Walliams, and
Ben Whishaw.

Contact

Gary Smith Intandem 020 7851 3800

07834 965 323

Liam Murray City Financial Associated 020 7 090 7800
Limited

Sadly, films that premiere at Edinburgh are not usually highly rated on the commercial circuits. What is crucial is the November American Film Market where any critical success of the festival circuit can be used to help sell the remaining territories w/wide. Don't know what the budget was - about 4million is my memory/guess - so maybe there are another $2-3 million primary sales left to make - yielding probably 20% to IFM = 250k ish in turnover. A US deal is critical - anything over $250,000 minimum guarantee should probably be accepted now - $.5m would be high end - my guess.

sd

What do you think of this distribution deal sd. Presumably it should yield some decent revenue particularly on dvd. The tie up with Vertigo who have had success with Football Factory and The Business is interesting. Also they say they are in negotiations with three other countries. Still not dealt but am getting more tempted with this sort of news

"Under the terms of the agreement with the Film's financier, Audley Films,
Intandem will be entitled to revenue from the direct distribution of the Film
in the United Kingdom and Ireland from cinemas, DVD, all forms of television
and airlines."

This tells you everything and nothing - what %age of revenue. I've not heard of Vertigo who are definitely a niche operator, maybe stronger on DVD releasing than theatrical. Can't see that many prints going out - 20-30, or 100 prints plus the marketing spend to support it. However, theatrical release should be geared to get maximum public interest for the DVD release without losing money on it. The DVD revenues could be much more interesting bottom line.

"Intandem is the worldwide sales company for the Film and the UK distribution
agreement follows sales to Japan, Benelux, Brazil and several other
territories. Intandem is also in negotiations for distribution agreements in
the United States, Germany and France."

It is indicative that no major European territories have yet been sold (other than UK). Japan is an imprtant sale, but does not much influence the rest of world appetite or prices. Benelux, Brazil - so who are the "others"? If you can't make major territory sales as the film is being finished or first shown, the danger is buyers sit on their hands and wait for the price to drop. Don't forget, there is no absolute value to any film, it's competing against whatever else is on offer from other sales agents.

LOL Are you positive on anything ?

Intandem is also in negotiations for distribution agreements in
the United States, Germany and France.

So it is happening and a good time to buy in.

We also have other revenue generating deals;

Intandem is also pleased to announce that it has secured a worldwide
distribution agreement for a soundtrack of the music from the Film with Milan
Music, a specialist soundtrack company whose offices are in Paris and Los
Angeles. The soundtrack album for Stoned is planned for release in the UK
through Warner Records to coincide with the cinema release in November.
Internationally, the soundtrack will be distributed through Universal Music.


So that again is positive !

Following the Films premiere at the Edinburgh Film Festival, Stoned has also
been invited to several prestigious, international film festivals that take
place during September and October of 2005 including Toronto, San Sebastian,
Dinard, Chicago and Rio de Janeiro.

More publicity...more potential.

I see that it is also not only IFM that you talk down so I have a bloody good idea who you are.

Oh and btw the 150K sale the other day was the Owls.

moneyman - you have no idea who I am, since you refuse to believe the evidence before you. So let me explain. I work in the film business - right at it's heart. I spend the majority of my day advising on film-financing and/or closing actual deals on films ranging from $5 to 25 million budgets, mainly across Europe, Canada and South Africa. I know an enormous amount about the subject and am moderately well-respected by the industry. I make my entire living from it - and a good one too.

I am saying what I believe to be true - it's not a reliable business for PI's to be in. The other thread I am currently debating from a bearish standpoint (not against the stock, just think it too risky an investment today at this price in these circumstances) is CHP. There are many other threads (by far the majority) where I am highly enthusiastic - look at SEO, DGT, FAO, PSG, KMR, EEN, ASC.

The record deal is worth diddly squat in $ terms - but helpful to the marketing effort with a co-ordinated release. The festivals you list frame the film within a certain well-established and commercially limited perspective as regards its profitability. There are two world events that are important for sales - Cannes in May and AFM in November. Oh, and Toronto is a good third place to be - how many sales did they conclude there last week? But Dinard, San Sebastian, Rio de Janeiro - they're local government tourist events - very flattering to be asked to attend, but not in the least sales generative - in fact there is probably a stgrong correlation between films invited to art festivals and poor commercial performance - no causality explained. This is my best advice. Maybe this one will break the pattern, just don't pin you hopes on it. It's still just one movie.

I'm happy to be argued against - even happier for you to prove me wrong and make some money, since I do not hold any position in IFM either way myself.

BUT, please do not take the argument outside the issue into the realm of personal and incipiently abusive mud-slinging - it's beneath you.

good luck

sd

BUT, please do not take the argument outside the issue into the realm of personal and incipiently abusive mud-slinging - it's beneath you.


Seems that you are the one dragging the dirt ! You seem to relish on making trouble and yes that is above me.

If you are in the film business then I suspect that it may not be going well for you by the amount of posting you do on this BB.

Enjoy your day !

moneyman - your suspicions are the last refuge of a troubled mind. Relax, stay friendly, I wish you well. Since you don't like my information or informed views I'm more than happy to bow out from this thread. Bye bye.

btw - I've got so much work on currently, I'm working 12-14 hour days and even round the clock to get all my business closed. Don't presume what you are ignorant of.

sd

sd, your views are indeed informed and provide a useful balance. However, i believe you spoil the views by some clear bias against this company by turning what are at worst neutral news into negatives. For example, saying that san sebastian is a tourist film festival smacks of a lottle jealousy. I would have thought that Spanish distributors attend the festival which is a perfect opportunity to achieve a sale. However, I have bowed to your superior knowledge up to now and value your input. My view is that IFM has the POTENTIAL to be a ten bagger during the next 12 months but they need more films and distribution for Stoned.

Altoid
Of course I have a clear bias against this company - I've looked at what I know about it and come to a negative conclusion about it. Why would I stay neutral? Totally respect Moneyman and your right to disagree, happy to have the error of my analysis pointed out. I've made some enormous howlers on other thread - quite capable of it here.

I'm happy to admit I don't know everything (or indeed even enough), let alone interpret it correctly, but I say what I see.

Don't understand your comment re being jealous of San Sebastian - fabulous place, lovely festival. If a sales agent is waiting to sell a film to Spanish distributors there, it probably means they have not found one already via another means. That's all. Sales agents cannot afford to go to morethan a couple of festivals - it's simply too expensive. Only last year Milan's MIFED was cynically squeezed out of existance by US's AFM deliberately moving from February to November. This was largely at the request and support of sales agents wanting to reduce three major markets to two to save overheads.

It is such a tough world out there in independent film financing and distribution, I admire anyone who tries. But it's not a place for my pension investments.

Sorry, broke my word to Moneyman not to post here again. I guess I am as thin-skinned as the next when my sincere motives are questioned.

sd

Thanks SD. As I said, your input is helpful to my understanding. Interesting what you ay about the expense of markets. I read in Screen a couple of weeks ago that two or three sales companies have closed down including Renaisance and Portman. Any insight there?