Ashfords LLP advises DQ Entertainment on its fund-raising to remake The Jungle Book
The Exeter office of Ashfords LLP has advised DQ Entertainment PLC (DQE) on its fund-raising of £4.1m to remake the much-loved children's tale The Jungle Book.
With its main operations in India, DQE is an award-winning global producer and distributor of animation and visual effects for feature films, TV, video, internet, mobile and next-generation console games.
Having established itself as a producer of quality animated content for television, DQE has increasingly focused on the production of high definition 3D stereoscopic animations and, most recently, animated feature films.
Since the company’s admission to the AIM in 2007, DQE has expanded its product mix from that of a pure outsourcing animation service provider to being an integrated entertainment production and distribution group that owns a portfolio of IP rights.
The first feature film being developed and produced from DQE's IP is The Jungle Book.
DQE Chief Executive Officer Tapaas Chakravarti was delighted with the AIM share placement.
He said: "We are delighted to have had such strong support both from new and existing shareholders, enabling us to achieve such a successful fundraising.The response to this placing underlines the continued support and confidence in the Group and its future business prospects.
"We are particularly excited about The Jungle Book Feature Film. DQE has appointed a highly skilled team from the world of feature animation including Screenwriter Billy Frolick (Madagascar, Holy Cow), Co-Directors Jun Falkenstein (The Tigger Movie, The Smurfs, Despicable Me) and Kevin Johnson (Alvin and the Chipmunks: Chipwrecked, Harry Potter & The Sorcerer's Stone, Astro Boy, Stuart Little), and Production Designer James Hegedus (Shrek)."
Ashfords partner Louise Workman, who secured the deal and has previously worked with DQE, said: "We are delighted to have been able to assist DQE with its fundraising. This is an exciting time of growth and expansion for the company, and we wish them every success for the future."
As well as representing an increasing number of AIM clients, Ashfords LLP partners have also acted as nominated advisors on a range of corporate governance matters for numerous clients.
