RGM completes $4m capital raising

20 July, 2010 by IF

By Brendan Swift

Biosignal – soon to be renamed RGM Media – has raised just over $4 million to expand the talent agency into a global media and entertainment business.

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The company now plans to finalise its acquisition of RGM Group according to an Australian Securities Exchange statement released today.

RGM has previously said it planned to spend about $2.42 million of the proceeds to produce action film Point Break 2; about $736,000 to expand its artist management services and increase the size of its content development and management teams; and about $300,000 on a new TV joint venture with Mark Burnett International.

An estimated $547,000 will be used to pay off the costs of the capital raising, including $340,000 in commissions paid to brokers who sold the offer to the public.

The Singapore-based company was founded by Robyn Gardiner in 1982 and is best known for co-representing high profile actors such as Cate Blanchett.

RGM's move into film and TV production marks a new direction for the company, which generates the bulk of its revenues by taking a 10 per cent commission on artists' earnings and 12 per cent for literary clients.

 

 

 

 

 

 

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