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Red light wants EIS green light

Stars including Reservoir Dogs&#39 Michael Madsen are seeking financing through a UK Enterprise Invest-ment Scheme to produce Red Light Runners, a Lon-don-based heist caper film.

Budgeted at £8m, the film needs to attract an initial £2m – the minimum to cover the production costs of a straight-to-video film – by July 17 before its producers can continue raising the money needed to make a feature film.

If the deadline is not met, then investors will receive their money back but if the money is raised they will benefit from the EIS structure, which allows for income tax relief and CGT-free returns if their investment is held for at least three years.

Investors can read the script of the film on the internet at www.redlightrunners.co.uk. The film will also star Eastenders actor and former Spandau Ballet bassist Martin Kemp, Christopher Penn and Ian Buchanen while Radio One DJ Sara Cox may have a role.

Co-producer Clark Westerman says: “This is not a minority art film. It is aimed at the UK and US mass markets and has the benefit of a list of well known, highly respected actors. It is the best EIS to come along in a long time.”

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