Investment
03 October 2007 - 10:24PM
UK Regulatory
RNS Number:0673F
Capital Ideas PLC
03 October 2007
CAPITAL IDEAS PLC
("Capital Ideas" or the "Company")
INVESTMENT
The Directors of Capital Ideas are pleased to announce that the Company has made
an investment of #50,000 in BritFilms Group plc ("BritFilms") an online channel
establishing itself as a recognised video sharing site for independent
film-makers. Capital Ideas will receive 17,111,111 new ordinary shares of 0.1
pence each in BritFilms, representing approximately 7.5 per cent of the enlarged
share capital of BritFilms.
BritFilms is a growing online film channel which is looking to generate revenues
from advertising similar to other online social networking sites. It has already
grown its user base to 823,000 in just 16 months, adding 385,000 new users in
September 2007 alone, and is currently receiving 4.5 million hits per month on
its BritFilms website.
Renwick Haddow, Chairman of Capital Ideas, said "I am very excited by this
investment as we believe that online films represent a growing market
opportunity. In a relatively short space of time BritFilms has become the number
two in its sector and continues to grow month on month. There is interest from
venture capitalists in this arena, plus media companies who wish to acquire
these businesses for both their user base and for associated advertising revenue
- a major source of income for online companies. We are hopeful that BritFilms
will prove to be a successful investment for Capital Ideas."
For further information, please contact:
Renwick Haddow Capital Ideas plc +44 (0) 207 623 3345
David Youngman WH Ireland Ltd +44 (0) 161 832 2714
Ian Callaway SVS Securities plc +44 (0) 207 638 5600
This information is provided by RNS
The company news service from the London Stock Exchange
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