Fashion On Screen Plc (“FOS”), the film and entertainment company, today Friday July 19 listed its shares on Europe’s Vienna Stock Exchange following a £100,000 private placing alongside the listing. It is anticipated that trading on the market will commence on Monday 22nd July.
The company has previously raised over £3 million and plans to start production of its first major feature film REVolution, the story of the kidnapping of world motor racing champion Juan Fangio ahead of the 1958 Cuban Grand Prix, later this year.
It has appointed Peter Macdonald as director. He is one of Britain’s most respected film directors and cinematographers, who has directed a number of successful movies including Rambo III, The NeverEnding Story III, and box office number one Mo’ Money.
The company has a number of other films under consideration including Finding Clive, a romantic comedy with songs, and horror movie Scream Room which is being produced by FOS’s associate company The Horror Lab.
FOS Managing Director, Nevern Johns, said: “The UK film industry has had a real renaissance in recent years, with growth forecast at 3 per cent annually, and it is expected to be worth £72 billion by 2021.
“With the exciting slate of films we are preparing we are confident we can enable our investors to take part in this growth. At the same time we are looking to implement an acquisition policy which will strengthen the company’s balance sheet.
“We have chosen to list in Vienna because it was recently granted European Growth Market status by HMRC, meaning stamp duty is not applicable to share transfers, and has the ability to clear share sales via the Euroclear system meaning British stockbrokers will have the ability to trade thus enabling our shareholders to deal in the stock if they wish.”
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1. The Company has listed on the Direct Market of the Vienna Stock Exchange (Wiener Borse): https://www.wienerborse.at/en/market-data/shares-others/quote-direct/?ISIN=GB00BDDVW715&ID_NOTATION=262378934
2. The company’s Ticker code is FOS and the ISIN is GB00BDDVW715.
3. Shareholding in FOS Plc is administered by registrars Avenir (https://avenir-registrars.co.uk/) and all share transactions processed by the Company’s appointed brokers, Optiva Securities (https://www.optivasecurities.com/).
About the Vienna Stock Exchange
Founded in 1771 by the empress Maria Theresa, the Vienna Stock Exchange is one of the oldest in the world. In its early years, it was a marketplace for trading bonds, bills of exchange and foreign currencies. The first time that shares were traded was in 1818, and the first corporation to be listed on the exchange was the Austrian National Bank.
After the war, the exchange reopened in 1948. The stock market was not as robust, but the bond market recovered in 1952. Bond market trading grew until a turnaround in 1985 when an American analyst drew attention to the potential of the Austrian capital market, which triggered a stock boom.
Trading volumes on the market were up 15% in October 2018 compared to October 2017.