Information  X 
Enter a valid email address

Artisan (UK) PLC (ART)

  Print      Mail a friend

Tuesday 19 September, 2000

Artisan (UK) PLC

Artisan EPA Statement

Artisan (UK) PLC
19 September 2000

                             ARTISAN (UK)plc                                

The Board of Artisan (UK) plc ('Artisan') has today issued the following
announcement in regard to the Extraordinary General Meeting of plc ('EPA' or 'enterpriseAsia') called for 10.00am
Wednesday 20th September 2000. 

Whatever the outcome of the voting at the EGM, shareholders deserve, as a
matter of courtesy, to be made aware of relevant facts.  These are:

The Board of enterpriseAsia have, at a conservative estimate, wasted
completely unnecessarily some £200,000 of shareholder's money on producing 3
circulars, setting up a shareholder telephone help line and canvassing
operation and hiring private investigators in pursuit of a personal vendetta
against Artisan's Chairman and which the Artisan Board believes they have
allowed to obscure the real points at issue.

The original proposal by Artisan for representation on the Board of EPA was
put forward in a spirit of co-operation but was only agreed by the EPA board
after it had issued its first circular to shareholders.  In view of the
caustic personal attacks and clear lack of intent of mutual co-operation
contained in this circular, the Board of Artisan could see little point in

Whether Artisan has representation on the enterpriseAsia Board, or not, it
will carefully scrutinise the investments EPA makes.  For example, in what can
only be interpreted as an arrogant disregard for shareholders, the latest
sizeable investment of £1.2m for only 8% of Net Fun is dismissed in a mere
seven-line announcement devoid of any detail.

Artisan (UK) plc currently holds 21.8% of the shares in enterpriseAsia at an
average cost of 7p per share. As EPA's  largest single shareholder, whatever
the outcome of the EGM, Artisan will continue to act in what it believes to be
the best interests of all enterpriseAsia shareholders. Whether from inside or
outside the enterpriseAsia boardroom, it will continue to attempt to broker
transactions.  Artisan has already received two informal approaches in this

In the event shareholders vote not to change the Board, Artisan intends to
maintain its shareholding  in enterpriseAsia as a possible key to achieving a
positive outcome for the benefit of all shareholders.


Artisan (UK) plc                                                 01480 436 666
Stephen Dean, Chairman 
Chris Musselle, Finance Director

Seymour Pierce Limited                                           020 7648 8700
Sarah Wharry

Boswell City Financial PR Ltd.                                   020 7583 2001
Glenda Boswell/Rodney Johnson


a d v e r t i s e m e n t