Banking update

RNS Number : 5529W

Artisan (UK) PLC

01 February 2012

 



1 February 2012

Artisan (UK) plc

("Artisan" or the "Company")

Banking update

Shareholders will be aware that Artisan's ordinary shares will be suspended from trading at close of business today and the cancellation of these ordinary shares from the AIM market will be effective as at 7am on 2^nd February.  The Company will be putting in place a matched bargain facility through Brewin Dolphin and we shall announce on our website when this facility is available. 

As previously announced, Artisan's banking facilities had been extended by the Company's lender  until 31 January 2012 in order to provide additional time to conclude the negotiation and documentation of a new facility. This process is still ongoing and accordingly the lender has agreed to extend the facilities by a further 2 months to 31 March 2012 in order to complete the process of entering into the new facility.

The Directors are confident that new facilities can be agreed.  Our lender remains supportive of the Company and the negotiations are proceeding in a cooperative and positive manner with the aim of structuring facilities that update the facility terms to a current market basis, agree new equity requirements and seek to provide the Artisan group with sustainable funding for the future.

Following its delisting, the Company intends to maintain an "Investors" section on its website at www.artisan-plc.co.uk, and to make available there, subject to considerations of commercial sensitivity, details of significant events and developments of interest to shareholders.

Enquiries:

Artisan (UK) plc Chris Musselle	Tel: [phone]
Altium Adrian Reed Adam Sivner	Tel: [phone]
Bankside Consultants - Financial PR advisers Simon Rothschild	Tel: [phone]

www.artisan-plc.co.uk

 

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