The Artisanal Spirits Share Discussion Threads

[shawzie] 28/9/2009 14:23

On close of the Aspen offer in July, Aspen holding was 69.6%, leaving about 726,426 shares required to reach 75%.
Non-tangible assets were written out of the last accounts, so any losses should be operating losses plus any revaluation of property assets.
This may well leave a NAV per share in excess of £1.00, so can we see ART
shares heading to at least 60p? Annual results could be interesting, especially if get some indication of "the way forward" for the Company.

[waldron] 27/9/2009 08:08

courtesy of:

maxk - 27 Sep'09 - 07:36 - 341 of 342


The Solucar solar power plant in Sanlucar la Mayor near Seville, Spain



Slide show here:

[grupo guitarlumber] 20/9/2009 09:32

When seeing is not believing
Connexion edition: August 2009
By Lucy Stubbs

In a quiet back street in Périgueux, the capital of the Dordogne, stands the musée du trompe l'oeil. Trompe l'oeil means "a trick of the eye" and the paintings work by creating the illusion that what you see before you really exists.

As you reach the entrance to the museum, it is already hard to tell what is real and what is not. The front door, deliberately left shut to tease visitors, appears to be an ornate wood panelled door. You approach it, imagining it will need a good push to discover that it is entirely illusory; only the handle is as it first appeared.

Once inside, the tour guide smiles knowingly as visitors approach objects such as artists' easels, notice boards and tiled walls then waits for the cries of disbelief as visitors realise they have been fooled.

Anne-Marie Cherrier, a distinguished artist whose works include a number of frescoes in Bordeaux chateaux, opened the museum, the only one of its kind in Europe, in 2002.
She said: "I'm passionate about the art of trompe l'oeil and wanted to share it with others. I was lucky to find good artists prepared to show their work here."

So keen is Ms Cherrier to share her skills, she runs intensive five-day courses in her workshop to teach others the technique. Students from as far afield as Sweden and the US have visited to learn the craft.

Trompe l'oeil has been around since ancient Greece and flourished in Roman times where it was used to create the illusion of space and a sense of greater opulence in Roman villas.

In Pompeii a trompe l'oeil window looked out over a courtyard and a complex though entirely illusory mosaic floor.

Although the art form disappeared during the dark ages, it was later revived by Italian artists who found it a useful technique for making churches appear bigger and therefore more magnificent.

Dutch artists embraced it in the 17th century and it is said they created trompe l'oeil easels in prominent positions in their studios to give the impression they were hard at work.

In reality, they were often out or using false easels to conceal their real projects from rival artists.

The fashion for paintings and murals spread across Europe but it remains a mystery as to why today it is universally described using the French term.

At the musée du trompe l'oeil, the secret of the deception is revealed. "It's all a question of geometry," the guide said. A horizontal line across the canvas at average adult eye height and then a piece of string is dropped down midway. "This point is called the vanishing point" the guide added. For the illusion to work, everything else in the picture must line up with this point.

Despite technological advances, it seems trompe l'oeil is still capturing our imaginations. Over the last 15 years, interior designers have reported big increases in customers wanting trompe l'oeil effects.

Artist and interior designer Graham Goodbody, of Painted Creations in Nice, said: "Views through open windows and doors are popular as they give the illusion of space and light but we've also done exteriors like painting flowers and trellises onto walls."

Other projects have included painting a mansion's walls to create the illusion it was made of gold.

Large murals on the sides of buildings are known as urban trompe l'oeil and are becoming increasingly popular. Lyon is France's trompe l'oeil capital as it has more than 60 installations, including the Mur des Canuts in the main picture.

Aïcha Bezzayer, from Cité Création, a cooperative of 50 artists specialising in producing large scale trompe l'oeil and frescoes, said: "This year we'll complete 31 frescoes and trompe l'oeil. We produce trompe l'oeil around the world but we have a workshop in Lyon and ever since we started in 1978, our work has been very popular here."

The technique has been widely used in Paris to disguise extensive building work or to show the public how a project will look when completed. Famous department store Printemps had its façade clothed in a 170m trompe l'oeil of the store to conceal renovation work. It even included reflections of other buildings in its windows.

Elsewhere in the city a Dali-esque trompe l'oeil façade in Avenue George V attracted world wide attention.

The world of fashion is catching on, too, with the current vogue for body painting, first popularised by Demi Moore in 1992 on the front cover of Vanity Fair where she appeared, from a distance, to be wearing a suit and tie.

Today's less radical fashion includes ranges by designers such as Louis Vuitton, Comme des Garçons, Nina Ricci and Chanel.

For details of other sites in France, try the website www.trompe-l-oeil.info which pinpoints murals from all over the country



Photo: The Mur des Canuts in Lyon by Claude Fézoui

[jfishy] 08/9/2009 09:24

I'd regard any cold calls as a scam to be honest.
Why would someone go to so much trouble to buy shares when they could buy them in the market.
Bet there is a significant premium offered followed by a requirement to pay a transfer fee or similar up front...and then they never buy the shares. OR you send off the certificate & never get paid.

[wiganer] 04/9/2009 20:27

There are a few of these scammy calls at the moment on various shares- e.g. see WTH website.

[edmas] 04/9/2009 20:19

Hi- no it was from japan!!!
Wondered if it was a set up/con.
'consortium trying to buy!!!!'
Have few shares - not worth buying very strange. Took their company name- it actually does have a web site~??????

[jfishy] 04/9/2009 10:21

Nope, but then my shares are in a nominee account so they won't have my details on the share register.

What was your phone call?
I'm guessing it was Aspen calling to ask if they can buy your shares at a premium so they can take control of the company?

I'm assuming the steady price rise is due to them buying in the market.
The big question is: Will they get their 75% or not?

[edmas] 03/9/2009 21:19

It is very quiet on here.
Excuse this question. Has anyone received a phone call regarding Astisan Shares?

[gizzimodo] 20/8/2009 08:22

so what happens now, failed to acquire 75%, guess he can pick up the balance in the market.

[jfishy] 07/8/2009 14:18

Excerpts from the update:

"Further to our previous correspondence of 17th July 2009, as on 6th August 2009, Aspen owns or has contracted to acquire in aggregate 9,112,783 Artisan shares, representing approximately 68.3 percent of the existing issued share capital of Artisan. In accordance with the terms of the Offer, the Offer has now been extended and will remain open for further acceptances until 19th August 2009."

So they 68.3% which isn't enough so they are asking again.

"The Offer Price of 34.125 pence per Artisan share values the existing issued share capital of Artisan at approximately GBP4,547,791 and represents a premium of approximately 14 percent to the closing price of 39.5 pence per Artisan share on 25 June 2009, being the last business day prior to the announcement of the Offer."

Forget the NAV, I find it unbelievable that Aspen can have to cheek to offer way below the close price.

"It is Aspen's current intention to retain Artisan's admission to trading on the Alternative Investment Market (AIM) following completion of the Offer. However, Aspen reserves the right to apply for cancellation of the admission to trading should it so decide."

We intend to do this! (but we might just change our mind)...how bizarre. Not sure I understand why they said this. Perhaps sell the assets then sell the shell for a reverse takeover? After all the listing itself has some value.

"If Aspen receives acceptances under the Offer in respect of 90 percent or more of the Artisan shares to which the Offer relates for the purposes of sections 979 to 982 (inclusive) of the Companies Act 2006, Aspen may choose to exercise its right under those sections to acquire compulsorily the remaining Artisan shares."

So, they may not compulsorily buy remaining shares...and they might leave the shares trading on AIM...can't see it somehow.

I'm sell not selling to them.

[shawzie] 03/8/2009 16:05

Aspen might not gain 90% of shares but could consider de-listing from AIM altogether - either maintaining a sole primary listing elsewhere, remaining public but unquoted or going private - in order to reduce the regulatory and financial time and cost burdens associated with maintaining a quotation.

To de-list, a company will generally need to send a circular to
shareholders and obtain the consent of 75% of votes cast by
shareholders in a general meeting (unless a waiver can be
obtained, e.g. where another listing is being maintained).

I am aware that the recent offer indicated that it was not Aspen's intention to delist, but we can only wait and see.

[jfishy] 01/8/2009 19:50

Gizzimodo, that makes sense but I'm inclined to believe there is something very fishy going on here - why were the loan terms agreed originally anyway? I get the feeling that if the non-execs, rest of the board etc were acting in the interests of shareholders then they would have refused the terms of the loan.

Only time will tell I suppose.

If the vote goes against Aspen what will happen?
Will Aspen dump its shares into the market?
If so, will institutions vote for Aspen as they will get a better return than if they vote against?

Either way the vote goes, the future looks bleak to shareholders unless ART shuts up shop, sells off all the assets returns capital to shareholders, but I can't see this happening myself.

[gizzimodo] 31/7/2009 14:02

This was probably the intention the moment they acquired the initial shares a few years back - who is to say they will get the agreed number of votes. My shares are held in a nominee account as many probaly are, the default option i received was to decline the offer by doing nothing, quite simple really. If the directors believe the offer to be well below true value why not realise true value by selling off the assets. Let Aspen have the assets not the shares.

[jfishy] 31/7/2009 11:31

"Had the Loan Notes been converted on 31st December 2008, the value of Artisan's
net assets at that date would have been GBP17.639 million, equating to a net
asset value of 132p per Ordinary Share."

...so Aspen are effectively making 100p per share if the get away with this. I suspect they will as well as this was obvious the moment the loan was announced.

[taurusthebull] 23/7/2009 22:33

I agree with you,i will not be taking up the offer at 34p when the asset value is over a £1.If Aspen want them,they can buy them in the market thus hoping the price will rise.

[jfishy] 21/7/2009 12:16

Well, I have refused to take up the offer.
How this will play out I've no idea, but to me, anything to make it difficult for this people that act like thieves the better if you ask me.

In the meantime, I'll make a not of all the directors & never be on the shareholder register of any company they direct ever again.

[prallum] 20/7/2009 18:12

How many acceptances do they need to compulsorily take control of all the shares?

I believe that it is around 90%.

Aspen finance can have my 1500 shares if they give me £3 each for them.

[shawzie] 17/7/2009 20:39

I was pleased to note in the Offer Document that the Independent Directors,
have decided not to accept the Offer in respect of their own holdings of Ordinary Shares and have stated that the NAV per share was 121p at end of 2008.

No doubt with further trading losses in the first six months of 2009, the NAV per share will be lower at June 30,2009 but should still be around 100p.
Leading up to the present Offer, the Directors cleaned out the Balance Sheet
by getting rid of Goodwill and making Impairment Charges.
Perhaps we will see further writedown of property assets to reduce NAV.

[jfishy] 17/7/2009 19:41

"The Independent Directors of Artisan, who have been so advised by Brewin Dolphin, are not recommending the Offer to Artisan shareholders, and believe that each Artisan shareholder should consider their own personal circumstances in deciding whether or not to accept the Offer."

The only part of the document that doesn't stink.
However, I doubt it will make any difference.

Difficulties due to economic conditions?
Unless those conditions have been here for the last 9 years I'd love to know how my shares have gone from £1k to £50 in that time...

[gurp] 17/7/2009 18:49

got the offer docs, yep, all stinks.
seems questionable to have a chairman with a finger in both camps
difficulties atm due to difficult economic conditions - what about the boom times over the last 10 years?
wouldn't waste the ink completing the form & my worst wishes for the future for those responsible

[shawzie] 28/6/2009 18:48

prallum
why not send your question via an email to one of the non-executive directors of ART?

[prallum] 27/6/2009 12:05

If the company needed more money why were the existing shareholders not given access to provide these funds via loan notes or a new share placing.

[prallum] 27/6/2009 12:05

If the company needed more money why were the existing shareholders not given access to provide these funds via loan notes or a new share placing.

[jfishy] 26/6/2009 17:37

"How was Aspen able to get this deal on such favourable terms?"

Who are the beneficaries of Aspen.
Who is responsible for running ART...

Ah.