PKP Photon Kathaas

TIDMPKP

RNS Number : 1804K

Photon Kathaas Productions Ltd

12 July 2011

12 July 2011

Photon Kathaas Productions

Second film Veppam, profitable before launch

Chennai, 12 July 2011. Photon Kathaas Productions Ltd. (AIM: PKP, "PKP", "the Company") the South Indian film company, announces that it has completed the sale of the domestic theatrical rights of its latest movie, Veppam, for US$600,000. Total revenues for this production are now approximately US$870,000. The TV rights, international theatrical rights and the rights to the Telugu dubbed version Veppam were previously been sold for a total of US$270,000.

These revenues exceed the management's expectations and with costs of approximately US$550,000 the production is under budget, which serves to reinforce the Board's belief that the Company's studio-led business model is making good progress and will continue to maximise revenues and profit margins.

In light of the recent discussions concluding the sale of the domestic theatrical rights, the movie is now scheduled for release on 29 July 2011.

Venkat Somasundaram, PKP Chief Executive said:

"We are delighted to have made a material profit on this production even before the film has been released.

"Revenues to date have exceeded our expectations and the production efficiencies of our studio model have allowed us to bring the movie in under budget.

"We are looking forward to the release date of 29 July."

Enquiries

 
 Photon Kathaas 
 Venkat Somasundaram, Chief Executive      +65 6224 4991 
 Reshma Ghatala, Head of Marketing         +91 44 2820 2988 
 
 Seymour Pierce Limited                    020 7107 8000 
 Nandita Sahgal/Tom Sheldon (Corporate 
  Finance) 
  Laetitia MacManus (Corporate Broking) 
 
 College Hill                              020 7457 2020 
 Adrian Duffield/Jon Davies 
 

About Photon Kathaas Productions

Photon Kathaas Productions is the first film company specifically created to make and distribute films of different genres to a primarily South Indian audience, speaking the languages of Telugu, Tamil, Kannada and Malayalam.

PKP benefits from a special creative relationship with its chief creative officer, Gautham Vasudev Menon. Gautham is one of the leading directors and producers in South Indian cinema. He has been involved in nine films to date, not only as a director but also as a screenplay writer, an executive producer and a producer. His earlier films include: Minnale (2000), Rehna He Tera Dile Mein (2001), Kaaka Kaaka (2003), Gharshana (2004), Vettaiyadu Vellaiyadi (2006), Pachaikili Muthucharam (2007) and Vaaranam Aayiram (2008).

A. R. Rahman is PKP's creative adviser. He is an Indian film composer, record producer, musician and singer and is credited for totally overhauling the style in which music is made in India. A. R. Rahman has won two Academy Awards (Slumdog Millionaire) 25 Filmfare Awards, four Indian National Film Awards, a Bafta Award, two Golden Globes and two Grammy Awards.

This information is provided by RNS

The company news service from the London Stock Exchange

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