Artisan (UK) PLC
23 June 2000
ARTISAN (UK) WILL RETAIN 69.51 PER CENT INTEREST IN RENAMED BICKERTON GROUP.
Shareholders in Bickerton Group plc, the AIM listed investment company, will
be asked at an Extraordinary General Meeting to be held on 17 July 2000, to
approve changing the company's name to ENVESTA plc to more accurately reflect
its new specialisation as an investment vehicle specialising in the
IT/technology sector, following the successful transfer of all its former
building and contracting interests to the Bickerton Construction Limited
subsidiary of Artisan (UK) plc.
Shareholders will also be asked to approve the proposed acquisition of a 73
per cent interest in Propertytrade plc, an internet portal focused solely on
the UK commercial property market, for £2,835,000 satisfied by the issue of
6,300,000 new ordinary shares in Bickerton at 45p each, the redemption of all
the Preference Shares in Bickerton Group held by Artisan (UK) via the issue to
Artisan of 1,100,000 New Ordinary shares at 45.45 per share, and the
appointment of Mr Martin Pryce, a Director of Propertytrade, and of Mr Steven
Lipman, Executive Director of Propertytrade's parent company Safeland plc,
Executive Directors of ENVESTA plc.
Of the current Bickerton directors Mr Stephen Dean, executive Chairman of
Artisan (UK) will remain on the board as a non executive director and Mr
Christopher Musselle, Finance Director of Artisan (UK), will continue in that
role with the new company.
Resulting from the proposed acquisition of the interest in Propertytrade plc,
Artisan (UK) PLC will retain an interest in the enlarged share capital of
ENVESTA plc of 16,248,884 shares representing 69.51 per cent, and Safeland plc
6,300,000 shares representing 26.95per cent of the enlarged equity.
Following the issue to current Bickerton shareholders of the circular calling
for the Extraordinary General Meeting and setting out the proposals, dealings
in the shares of Bickerton Group plc were today restored at the company
request.
Bickerton shares were suspended on Friday 9th June 2000 at 45p.
Issued on behalf of Artisan (UK) PLC by Boswell City Financial PR Limited.
Enquiries:
Artisan (UK) plc 01480 436666
Stephen Dean, Chairman
Chris Musselle, Finance Director
Boswell City Financial PR Limited 020-7583 2001
Glenda Boswell Mobile 07768 235 735
Rodney Johnson
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