Wed, 10 Feb 2016 | BUSINESS SALE
Pinewood Studios, famous for hosting box-office smashes such as James Bond and Star Wars, could be sold as its owner looks to ‘maximise value’ for investors.
Pinewood Group has appointed advisers to carry out a strategic review of the company’s structure and capital base, after recently failing to gain enough new investors or to diversify its shareholder base.
The company, which trades on the junior AIM market, stated that its shareholder register was so ‘tightly held’ that its ambition for a main market listing was being held back.
The announcement comes on the back of its raised annual profits guidance. This follows stronger than expected revenues across the board since the release of its half-year results in December.
Pinewood Group said one of its main options included selling the business, which comprises Pinewood Studios in Buckinghamshire, Shepperton Studios and Pinewood Studios Wales. The company also has an international network of studios in countries such as Canada and the Dominican Republic.
The firm has continued to be at the forefront of the TV and film industries with commercial successes such as Spectre and Star Wars: Episode VII The Force Awakens being filmed at Pinewood Studios.
Pinewood chief executive Ivan Dunleavy said: “We believe Pinewood has the potential to build on the strong performance of the last few years to grow further both in the UK and internationally.
“The board is now looking to identify the best ways to create the appropriate capital structure to allow the Company to realise its goals in the best interests of shareholders.”
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