18/03/2005 Shed Productions (“Shed”) opens the Main Market
18 March 2005
Shed Productions (“Shed”) opens the Main Market
Shed was established in 1998 and is now one of the UK’s largest independent television production companies. Shed specialises in contemporary, original drama programming and content and produces and owns the intellectual property rights to Footballers Wives and Bad Girls.
The placing price for Shed is set at 88p per ordinary share, which will give the company a market capitalisation of £44million. The placing consists of 25.5 million ordinary shares, representing 51% of the 50 million ordinary shares in issue.
The listing is a natural step in Shed’s development and comes at a time of considerable opportunity for both the Company and the independent production sector. The changes in the independent television production market, including the new terms of trade set out in the Communications Act, are expanding the opportunities for profitable growth.
Commenting on the listing, Eileen Gallagher, CEO of Shed said: “Our quotation on AIM will allow us to attract and retain the best creative talent as we build our portfolio of leading productions. We have a strong business model, new programming coming through and are well positioned to capitalise on changes in the independent production sector – all of which provide good opportunities for growth.”
Ingenious Corporate Finance and Bridgewell Securities advised Shed on the flotation.