Think Entertainment Shareholder Action Group

bonney writes "

A meeting took place with Nick Underwood and Graham Calderbank at NSM offices at Warwick on the 12th March, it was a constructive meeting, which was in a presentation style, covering the past, present and future. Most of the questions were covered during the presentation, which was put over in a very professional manner and was with openness and honesty. We were made very welcome and didn’t feel that they had put themselves out to see us, and it was just as valuable to them as it was to us.

The question why Chris Jones was sacked was asked but NSM couldn’t comment, it was made clear that without Chris’s tenacity we wouldn’t be here now, so he should be thanked for that and now sit back and wait for the share’s to relist like everyone else.

The Anderson legal claim is still under review by the board. While there is a claim against AA they have to weigh up all the options, the limited liability and the signing off of the 2001 accounts. We owe (under the terms of the CVA) AA ‘historic’ money so a deal could be done.

The CVA is on track to be completed by the terms of the CVA do*****ent (up to 18 months).

Wilf Shorrocks was discussed we have all read NU’s letter so don’t think we need to comment any more apart from saying WS has had his chance and it’s time to move on, lets concentrate on NSM and WS on Peak Entertainment

One thing that was put over very strongly was that they are running a tight ship, the offices at Warwick had to be taken on at short notice and negotiated a very completive deal which is about to be reviewed, if they can’t get the terms to suit NSM they will move, the new offices in London have also been taken on at a reduced rent for 18 months.

Butt-ugly Martians, discussions are still on going with Universal as how to move forward with this product, it is a very complex IP. I’ll try and put it in layman’s terms, the royalties that are collected are paid back to the original investors first (i.e. NSM/MYP/DCDC/NASTY WOLF) so Universal won’t get any money back until all these have their money back, income is coming in from existing contracts, they have permission from universal to write to all licensees to collect monies owed to NSM, it might not look promising on future programmes at the moment, but that might change, but it is promising on income.

Jellikins is being revamped and renamed The JELLIES the existing programmes will be altered to a more educational format. Optical Image are involved because they own 15% and are doing it at very little cost, discussions are on going with TV stations, Rik Mayall is still involved.

Percy Fisher, well you are all in for a shock on this in my opinion, they have a cult classic on their hands Rob Paulsen, Rik Mayall, Matt Lucas are all involved, they have picked a programme where there is a gap in the market, some big TV stations have already shown interest.

Junk Planet is in its early days and will need some work

Lime TV is there to bring in income while the IP’s are developed, selling TV programmes and TV ideas is Kate Bourne’s speciality.

Relist was discussed but no time frame was given, it is in everyone’s best interest that the company has a sound footing before an attempt to relist on the stock market.

Communication with shareholders was discussed and our case for keeping shareholders more informed was taken on board and they agreed that is something to improve on.

So all in all a very good meeting and the progress the company has made is very encouraging, the future is bright.

I have tried to convey how the meeting went to the best of my ability, but one thing you have to remember is that it is very difficult to take notes and concentrate with the progress of the meeting, and it is very hard to give the meeting justice in written format. "