Wrapping up £1.8 million-plus in funding for “Salty,” a new film by director Simon West, of ‘The Expendables 2″ (2012) and “Lara Croft: Tomb Raider” (2001), Hollywood takes a trip to the UK. The equity crowdfunding campaign for “Salty” marks the first time that retail investors worldwide will be able to participate directly in profits made by a major Hollywood film, with a minimum investment of £1,000. This weekend, the campaign reached its funding target on UK equity crowdfunding platform SyndicateRoom.
West said,
I am delighted to have achieved this “world first” by selling shares in my upcoming film directly to investors, the movie-going fans themselves. Now it’s up to me to make a great film and repay their support with great returns!
As of this writing, the campaign has 123 investors, and the campaign is now overfunding with £ 1,961,000 invested. “Salty” is offering 99.98% equity, and a pre-money valuation of £300. Lead investors include Tim Hanbury, business angel and non-executive director of Salty Film Ltd.; Ben Levine, CEO at asset management fund LMR Partners; James Hanbury, Fund Manager at Odey Asset Management; Stefan Renold, Chief Investment Officer at LMR Partners and one of Forbes’ ‘30 under 30 in Finance’ in 2012; and Robin Birley, owner of 5 Hertford Street, a Private Members Club in Mayfair. The crowdfunding investment is also eligible for Enterprise Investment Scheme (EIS) tax relief, and all investors will own their slice of the movie through holding shares in Salty Film Limited, proportionate to the amount they have invested.
Envisioned by West as ‘The Hangover meets Get Him To The Greek’, Salty is in final negotiations with an all-star A-list cast, to be announced shortly.
According to the press release,
Produced by Los Angeles and UK-based production company, Simon West Productions, Salty is adapted from the novel by Mark Haskell Smith. Directed by Simon West and produced by Harry Stourton (Lara Croft: Tomb Raider) and Jib Polhemus (Con Air, Lara Croft: Tomb Raider, Generals Daughter, Expendables 2, When a Stranger Calls, The Mechanic, Wild Card) the film is an action-comedy, rich in colour and exotic locations, which follows an ageing rock star and reformed sex addict muso who is persuaded to take a holiday to Thailand by his wife, a former supermodel. Things take a turn for the worse when she’s kidnapped by Thai pirates raising money to buy a new boat. The screenplay is written by Mark Haskell Smith (novels Moist, Delicious, Baked, TV series Star Trek Voyager and The Magnificent Seven) and Toby Davies (The Mitchell and Webb Look, Yonderland, Crackanory).
In six days, Salty will close to further funding, on March 21 at midnight.
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