EIS film scheme to call EGM over prospectus 'mistakes'

Professional Adviser
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Producers of Red Light Runners, who are attempting to finance a Hollywood blockbuster being through...

Producers of Red Light Runners, who are attempting to finance a Hollywood blockbuster being through a UK enterprise investment scheme, are going to have to call an extraordinary general meeting (EGM) and issue a supplementary prospectus to get around errors in the way the scheme was launched according to legal advisers. The project is unlikely to be put back on the shelf given the successful raising of the first £2m tranche of funding out of the £8m needed to finish filming. But the EGM will be required because certain articles are likely to be changed in relation to the spli...

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