An eclectic team of peopledriven by executive producer Barrie M. Osborne (The Lord Of The Rings), producer Richard Keddie and Bangkok-basedfinancier Robert Mullis have won a licence to raise money in
Others named as part of theMullis Capital Film Licensed Investment Company (FLIC) are actors Hugo Weavingand Noni Hazelhurst, director Fred Schepisi, Melbourne-based lawyer MarkBirrell, joint managing director of corporate travel management companyTravelEdge, Grant Wilson, and banker Simon McKeon.
McKeon is part-time
Richard Keddie will act aschief executive and is the only one of those named likely to have a full-timerole in the company. He was one of three producers on the feature
The Australian Governmenthas capped the amount of concessional capital that it is possible to raiseunder the FLIC licence between now and
By levering up otherdomestic and also international investment, Mullis Capital plans to fund fouror five films each budgeted between $7.4m-$15m (A$10m-A$20m). In Australianterms, these are big budget films. Investors in film can get a 100% taxdeduction on their investment whether it is through a FLIC or not, but the FLICoffers additional benefits including the expertise of the managers.
The Mullis FLIC plans towork with the best talent that
"To make the industrysustainable in the long term the industry cannot rely just on government," saidMcKeon. "It also requires commercial money."
The licence can also be usedto raise money for television, but he expects Mullis to only fund features.This is likely to be via high net worth individuals and private groups ratherthan small investors.
More details about theMullis FLIC's plans will be made public early in the new year. Four companiesapplied for the one licence available.