Vancouver: Vancouver-based Rainmaker Entertainment is increasing the financing expertise on its board of directors at the same time as it solidifies a business plan that will keep it solely in post services.

Corporate finance lawyer Stuart (Tookie) Angus, a senior partner at the firm Stikeman Elliott and a Rainmaker director since 1997, has been elected chair effective immediately.

Meanwhile, Rainmaker’s independent committee, struck March 10 to consider ways to enhance shareholder value, has delivered its report. According to the report, shareholder value can best be enhanced by focusing on the company’s core post-production businesses.

Rainmaker’s core post businesses have grown consistently with revenue increasing to $27.5 million in 1998 from $9.9 million in 1995, while earnings (before general and administrative costs and taxes) increased to $5.1 million in 1998 from $2.8 million in 1995.

‘We will continue to build the organization by following our successful strategy of broadening our service offerings to our clients,’ says Rainmaker ceo Bob Scarabelli. ‘Our focus will be on increasing revenues with initiatives such as DataLab, The Crossing Visual Effects Studio and the expansion of our art and cgi departments while working to refocus management’s attention to the bottom line through a company-wide cost analysis and reduction program.’

Negotiations for the sale of Rainmaker’s production and distribution division Pacific Motion Pictures continue.