Artisan (UK) PLC
29 November 2001
Artisan (UK) plc buys stake in The Wigmore Group plc
The Board of Artisan (UK) plc is pleased to announce that it has agreed to
acquire a stake in The Wigmore Group plc, via a placing of 16,558,000 ordinary
shares at 3p, representing 29.64% of the enlarged share capital.
The Wigmore Group plc ('Wigmore') is a support services group, providing
repairs and maintenance to the property industry. Wigmore intends to obtain
fixed term contracts with public sector businesses and also focus on the
commercial leisure and licenced premises sector.
Wigmore has posted a prospectus to its shareholders outlining the placing and
an open offer and its intention to apply for an AIM listing. Trading on AIM is
expected to commence on 2 January 2002. The fundraising is conditional upon
shareholders' approval at Wigmore's AGM on 20 December 2001.
The Board of Artisan believes this as a good opportunity to forge alliances
with Wigmore and since the disposal of its contracting business earlier this
year, is keen to take an interest in the property services sector.
Artisan also believes there is scope to create business synergies in the
property services sector with Wigmore, due to Artisan's current business
operations and Wigmore's intended operating sectors.
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