Press

The Theatre Fund, a new alternative to the traditional theatre investment model, will launch in November 2011. Advised by Act Productions Limited, an established leading theatre producer, The Theatre Fund will give individual investors the opportunity to participate in the continuing success of West End theatre production, and through its innovative structure will offer unique advantages including:

  • Significant tax advantages (unlike traditional theatre production investment) for qualifying investors, under the Enterprise Investment Scheme (EIS). These include up-front income tax relief of 30% and profits free of capital gains or income tax;

  • An enhanced percentage financial participation for investors (including a 70% share of profits compared with the traditional 60%, and participation in pre and post-recoupment producer royalties traditionally retained by the producer);

  • Diversification of investment risk across a professionally selected portfolio of productions (in contrast with the traditional theatre investment model where profit or loss on investment is solely dependent on the success or failure of one show);

  • The opportunity to invest in all Act Production shows, including those ineligible under The Theatre Fund criteria;

  • Additional privileges as available, including complimentary tickets to opening night or preview performances, invitations to meet cast, and access to VIP house seats across the West End.

Qualified investors can find further information and register their interest in The Theatre Fund from www.thetheatrefund.co.uk

The position of Adviser to The Theatre Fund will be filled by Act Productions Limited. Act is one of the West End’s leading theatre producers with a track record of over 15 years of first rate West End productions across a comprehensive range of genres. J. Alan Davis (Managing Director) heads Act’s management, which is supported by a Board including highly experienced non-executive directors: Roger Wingate (Chairman), Lord Chandos, David Parkhill and Adam Kenwright. Through their company, CMP, veteran general managers Nick Frankfort and Tobias Round have agreed to provide general management as required for The Theatre Fund productions.

Act’s position in the market means that it is aware of a high proportion of the potential productions at an early stage in their development. After the launch of The Theatre Fund, Act will not invest for its own account in eligible productions unless The Theatre Fund has been given a similar opportunity to invest.

Notes to Editors

West End Theatre

West End theatre attendance and revenues have had over seven years of consistent growth despite the negative economic backdrop, with 2009 revenues exceeding £500m for the first time and attendances achieving a record 14.26 million. Total revenue for plays was up 11% through the end of 2010 year on year to date compared to 2009. Despite hard economic times in the UK, 2010 proved to be another successful year for London Theatre. More than 14 million theatregoers attended a performance in one of London’s major venues last year. This impressive number, though down 0.79% on 2009, led to a record year at the box office, with theatres taking £512,331,808. (Source: Society of London Theatres, “SOLT”). www.solt.co.uk

Act Productions Limited

Act Productions is a leading theatre producer in the West End, of national and international tours, and on Broadway. With a distinguished history from its founding in 1994, Act remains committed to the development and production of theatre with the utmost creative and commercial integrity.

Current and past productions include: Death and the Maiden (Comedy Theatre); Yes, Prime Minister (Apollo Theatre, UK tour, Gielgud Theatre); Legally Blonde the Musical, 2011 Olivier Awards triple winner (Savoy Theatre); Being Shakespeare, starring Simon Callow (Trafalgar Studios, Sky Arts); Flare Path, starring Sienna Miller, directed by Sir Trevor Nunn (Theatre Royal Haymarket); Birdsong starring Ben Barnes (Comedy Theatre); and Olivier winner ENRON, (Apollo Theatre). www.actproductions.co.uk

Roger Wingate – Chairman

Theatre has been part of Roger Wingate’s life throughout a business career that included property for many years, as Chairman of Chesterfield Properties PLC, and currently encompasses interests in film distribution (Artificial Eye) and Cinemas (Curzon). His father owned the Comedy Theatre until his retirement in the mid-1960s. Roger added the Phoenix Theatre, the Albery (now Noel Coward), Wyndhams, Piccadilly and the Whitehall (now Trafalgar Studios) to form Associated Capital Theatres. The theatre portfolio was sold to the Ambassadors Theatre Group in 2000, Roger having opted to concentrate on production through Act Productions.

Roger was responsible for rebuilding and reopening the Donmar Warehouse 20 years ago, having appointed Sam Mendes as Artistic Director at the design stage. He retains a close connection with the Donmar as Board member and also sits on the Board of the Soho Theatre.

J. Alan Davis – Managing Director

Alan joined Act Productions as Managing Director in 2009, having returned to the UK after twenty years in the international entertainment business based in Los Angeles. His experience spans all aspects of the entertainment business at companies ranging from Warner Bros, to independent film, television and music productions. Alan also served as the Managing Director of BAFTA/LA, as Chairman of the Britannia Awards, and on the inaugaral British Film Office Executive Committee in Hollywood. During his tenure at Act, Alan has overseen the company’s involvement in productions including Yes, Prime Minister, Legally Blonde, Being Shakespeare, Flare Path, Birdsong, and ENRON.

Nick Frankfort and Tobias Round (CMP) – General Managers

Roger Wingate’s relationship with Nick and Tobias developed during their shared involvement with the Donmar Warehouse, where Nick was the Executive Producer and Tobias was General Manager. In 2006 Nick and Tobias formed CMP, their current general management and production company. Nick has over 20 years of experience in the theatre industry. Tobias Round worked at IMG and Adventures in Motion Pictures before joining the Donmar in 2003. www.cmplimited.com

Lord Chandos

Tom Chandos is Chairman of the listed companies Invista European Real Estate SICAF and Real Estate Credit Investments Limited and a director of Albany Investment Trust plc. He is Chairman of the independent television production company Splash Media Limited and the digital content agency Zone Limited and a director of RSMB Television Research Limited, a joint venture between Havas and WPP.

He has a background in investment banking and principal investing at Kleinwort Benson and the European affiliate of Allen & Company. He was a founder director of Cine-UK Limited, a predecessor company of Cineworld plc, of the Russian television group International Network Television Holdings (TV3) and of the e-commerce business Moonpig.com.

He is Chairman of Esmee Fairbairn Foundation, one of the UK’s largest charitable foundations, and a member of the House of Lords.

Adam Kenwright

Adam is as Managing Director of aka. Aka promotes many of London’s most successful theatre companies, arts venues and productions (www.akauk.com) , He is also a member of VisitBritain and a board member of Old Vic Productions, The Lyric Theatre in Hammersmith and SOLT.

David Parkhill

David Parkhill is Director of Business Services at VisitBritain, a director of the Donmar Warehouse Theatre, Deputy Chairman of the Bush Theatre and was Chief Operating Officer of the Southbank Centre.