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News_July10_Layout 1 09/07/2010 08:20 Page 1 Issue 8: July 2010 www.edge.uk.com Edge’s entertainment EIS enjoys Glick welcomes Budget cheer for VCTs most successful fundraising yet DGE Group founder David Glick has Another £5.5m brings Edge’s EIS total to nearly £12m. Ewelcomed changes in the Budget which should benefit Venture Capital DGE has announced that the fourth issue been bringing the successful Edge Performance Trusts (VCTs). of its Enterprise Investment Scheme VCT formula to the EIS sector. E With gains from investments in VCTs continuing (EIS), the Edge Performance EIS, raised “With these two funds, Edge is committed to to remain exempt from Capital Gains Tax – £5.5m in its latest fund-raising round, helping investors make the most of the many raised in the Budget to 28% for higher rate meaning Edge has now raised a total of opportunities for growth in the creative and taxpayers – Glick forecasts that VCTs will £11.7m over its four EIS offers. entertainment industries.” become even more attractive to investors. The news comes as Edge confirmed a final Edge’s reputation has been built on the quality of “We have been consistent in arguing that VCTs fundraising figure for its Edge Performance VCT a team which includes not just renowned provide an ideal vehicle to encourage private F Share Offer of £29,056,655, nearly three times entertainment industry dealmaker Glick himself, capital to invest in the creative industries,” he its original £10m target. but also impresario Harvey Goldsmith, former Sony said. “On that basis, this looks like a progressive The Edge Performance EIS has been created to Music business affairs head Alasdair George, VCT budget.” invest in companies in the entertainment industry. pioneer Gordon Power, Elton John manager Frank Meanwhile previously VCTs have been restricted The fourth issue is targeting a return to investors Presland, former Emap and HMV Group chairman to investing in companies whose business was wholly or mainly in the UK. The Budget clarified of £1.30 for each £1 invested over its six year term Sir Robin Miller and superstar DJ Pete Tong. that in future the requirement will be only that before taking into account the benefit to investors Companies in which Edge funds have invested investee companies have a base in the UK. of available tax reliefs. have promoted more than 200 live concerts in total “This is a particularly welcome development in Edge founder David Glick said the growing since December 2006 featuring artists ranging an international business like entertainment,” success of the Edge Performance EIS marked a from Kanye West to Backstreet Boys, Eric Clapton said Glick. “Given Edge’s deep industry relations new milestone for the company. and recent Grammy Award winner Jeff Beck. worldwide, I expect that this will open up “Edge is best-known for its Venture Capital Trust Edge has since broadened its investment remit to significant new opportunities for our investors.” (VCT) product, and with £77.2m raised over the embrace the wider entertainment industry. Edge Group funds have raised almost £90m past five years, the Edge Performance VCT is now One of the first examples of this approach has been over the past four years. one of the most popular VCT funds in the UK with an investment in Coolabi, the licensing company which investors. But we are gaining increasing traction holds the rights to such popular children’s characters with our EIS fund too. Key to our success has as Bagpuss, The Clangers and Purple Ronnie. Busted star Bourne plots West End debut DGE Legal is supporting former Pallot Signs to Geffen EBusted star James Bourne on the legal work surrounding his move into musical DGE Legal director Richard Baskind theatre, Loserville: the Musical, which he has advised critically acclaimed has co-written with writer and composer E Elliot Davis. artist Nerina Pallot on her signing to Geffen Records, just as her Bourne and Davis are currently plotting the West End debut for the show which was songwriting career is hitting new successfully staged last year at Bracknell's heights with two tracks on the new South Hill Park Arts Centre. Kylie Minogue album. Loserville’s story was inspired by the album Pallot – who has been represented by Edge Welcome to Loserville, released in 2005 by Bourne’s post-Busted band Son of Dork, and is for all of her career – is reunited in the deal set in 1971 America, focussing on a Michael Dork, with Universal Music executive Colin Barlow a computer geek and his high school friends. with whom she signed her first record deal. Edge Legal partner Richard Baskind said, In the meantime she has released three “Loserville shows a new side to James Bourne albums and built a flourishing career as a and demonstrates how he can embrace a new musical form with skill and assurance. We all writer for other artists, including Kylie, for have high hopes for its West End opening. It whom she wrote the title track of the new should be a great night out.” album Aphrodite and Diana Vickers. Bourne himself has said, “We think it will appeal Said Baskind, “People often bemoan the to people who aren’t necessary regular musical music industry’s ability to nurture long term theatre goers; we hope it will convince some regular music lovers who might not be into artists, but Nerina is a notable exception musicals that there is something in it for them.” who is set to reach new levels of success. More information is available at We are delighted to work with her.” www.loservillemusical.tv News_July10_Layout 1 09/07/2010 08:20 Page 2 Deacon takes the helm at Ungaro News in Brief DGE Legal has helped award-winning own name as well as for mass market retailer Long-time Edge Legal client Gavin E UK fashion designer Giles Deacon to New Look. Rossdale has completed the first album the creative directorship of fabled French Deacon was first approached by Ungaro from his band Bush for nine years. fashion house Emmanuel Ungaro. managing director Marie Fournier in April. She Rossdale revealed in an interview with The deal, negotiated by Edge Group founder praised Deacon’s “gravitas and sensibility to re- LA’s famous KROQ radio station that David Glick and Edge Legal’s Al Philp, will interpret the rich heritage” of the Ungaro Everything Always Now will be released see Deacon take the helm of Ungaro and brand. in October and is expected to be unveil his first ready-to-wear collection for the Al Philp said, “Giles is refreshingly down to accompanied by a tour. Bush have sold brand in Paris in October. earth and a pleasure to deal with, so it has more than 14m albums... Best wishes to Longstanding Edge client Deacon – been a delight to work with him on securing Liz Marshall, formerly PA to David Glick, who renowned for his womanswear – is expected this significant new deal.” has left to join Colin Lester, the new CEO of to restore the design credentials of the Universal-backed management company traditionalist fashion house after its Twenty First Artists... Edge Legal has controversial liaison with popstar-turned- negotiated a worldwide record deal with designer Lindsay Lohan. Warner Music for actor Oliver Tompsett, Deacon was named Best New Designer of best known for his portrayal of Fiyero in 2004 after debuting his first collection at the West End production of Wicked – London Fashion Week, and was Designer of “the untold story of the Witches of Oz”. the Year just two years later in 2006. Tompsett, 29, has a long pedigree in Last summer he was awarded the prestigious musicals, having made his West End ANDAM Grand Prix for his work. debut in the Madness musical Our The designer will add the Ungaro brief to a House, later appearing in Mamma Mia. workload which includes collections under his George pays tribute to Siphiwo DGE Group director Alasdair George “Sip was a supreme performer, said George, Ehas paid tribute to South African opera “and gave every indication that he could be one singer Siphiwo Ntshebe who has died of the greats of modern opera. Sadly it was not suddenly aged 35. to be, but all of his friends and colleagues George acted as legal advisor to Ntshebe – were touched by the care with which dubbed the Black Pavarotti - who had been the World Cup organisers recognised predicted to make his international breakthrough him in the opening ceremony.” at the opening ceremony of this year’s World A video of Ntshebe performing Cup in South Africa where he was to have was played at the ceremony appeared with long-time supporter Nelson and Sony Music has now Mandela. released his debut album for the company However Ntshebe contracted meningitis and posthumously. died on May 25, barely two weeks before the World Cup opened. George had worked closely with Ntshebe’s team to negotiate a worldwide record deal with Sony Music who were set to launch the young star’s career around the world. Edge Key Contacts About Edge Group Edge Group is a leading advisory and Edge Media is a specialist corporate investment boutique for the entertainment finance house with a particular expertise in industry buying and selling rights catalogues The Edge difference is its unrivalled network Edge Investment Management has of entertainment industry professionals which quickly built a strong reputation in tax ensures quality deal flow and industry-leading efficient investments in the live music and expertise to evaluate opportunities events business. Edge Legal offers a highly commercial approach working with clients to develop For more information visit David Glick Alasdair George Gordon Power Richard Baskind companies and careers www.edge.uk.com This document has been approved by Edge Investment the Edge Live Protected EIS Funds or any other body corporate as to its completeness.