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Wardour Pictures – ‘Hot Potato’ Information Memorandum Updates
It is in the nature of Film-Making that the situation changes all the time right up to and, in many cases, beyond the start of Principal Photography.

While it would be impractical and wastefully expensive to reprint the document to reflect each change, it is important that investors and would-be investors be kept apprised of any significant textual alterations.

Please be assured however that nothing substantial has changed in that the investment limits are the same i.e. £1.97m and that the percentage of equity for Wardour A and B shares has not altered.
So, with that in mind, I have listed below the most significant differences between the printed version (and that which is on the website) and the current changed circumstances:

General Changes

• The CVS scheme referred to in the IM only applies until 31st March 2010 when HMRC approval was withdrawn. Any Corporate investment after that date will not benefit from this legislation.

• The budget of the Film is now £6.7M
  
  

• The Film is due to start Principal Photography on September 27th 2010.

• All casting detail is available on the ‘Cast’ Page of the website.

Specific Changes

• P17
• Exact details of the make-up of the final budget have yet to be completed, but the structure here is broadly the same – Wardour Pics, Co-Producers and Co-Financiers, Government Tax credits, and some Gap funding.
  
  
• P17
• Tax Credit: Due to filming approximately three fifths of The Hot Potato in Belgium to take advantage of their generous Tax structure, the UK spend is now lower and it is expected that the Tax Credit from HMRC will be around £650,000.
  
  
• P34 + P37
• Tony Townson has now purchased the Ordinary Shares previously held by the Estate of Anthony Burton.

Peter Joly
Executive Director
Wardour Pictures

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