AGM Statement

Artisan (UK) PLC 06 November 2007 ARTISAN (UK) PLC AGM STATEMENT At the Annual General Meeting of Artisan (UK) plc, the business park developer and housebuilder, Chairman Michael Stevens made the following statement: 'Since our June period end, the Group has made solid progress. In particular, our commercial developments company, Artisan (UK) Developments, is enjoying a very satisfactory level of interest in forward sale and let opportunities, particularly at its two new sites in Kings Lynn and Ipswich.' 'I am delighted to announce today that we have contracted the forward sale of a self store unit at our Ipswich site. This is a substantial 80,000 square feet building on a 20,000 square feet floor plan which, subject to planning permission, will commence construction in spring 2008.' 'Rippon Homes, the Group's East Midlands based house building subsidiary, is still finding that each sale is hard won, in line with the experience of housebuilders in other parts of the UK. The number of potential purchasers visiting our sites, and sales reservations made, has varied widely over the period. It is still too early to discern a clear pattern, since success for the current year will depend on the key residential seasons - this Autumn and Spring 2008 - generating sufficient sales.' 'The acquisition of new sites, both as replacement stock and new outlets, is key to the Group's growth, and much effort is directed towards this by both divisions. Whilst land with a planning permission remains in short supply, we have continued to purchase land successfully, and we are tendering for more land as sales income progresses.' 'We found sales of commercial units a little slow coming out of the summer, but this is counterbalanced by very good progress on our forward commercial sales objectives for the current year. Whilst we expect trading, particularly residential, to be weighted towards the latter part of the current year, your Board is confident that a good result can be achieved for the year as a whole. However these remarks are made with the caveat that the group cannot avoid general market conditions, and I remain concerned that the financial consequences of the difficulties in the sub prime sector could further impact the wider economy.' All the ordinary and special resolutions put to the AGM were duly passed. Artisan (UK) plc Chris Musselle Chief Executive 01480 436666 email@artisan-plc.co.uk Brewin Dolphin Securities Limited Nominated advisers 0845 270 8613 Andrew Kitchingman Bankside Consultants Financial PR advisers 020 7367 8888 Simon Rothschild 07703 167065 Louise Mason Company website: www.artisan-plc.co.uk This information is provided by RNS The company news service from the London Stock Exchange FE
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