The Artisanal Spirits Share Discussion Threads

[gjabrj] 03/3/2006 12:35

reply received

I am sorry you wish to take such a negative view. The placing is to support
the additional bank funding that can be used to enhance the growth of the
Company and benefit all shareholders. Our bankers regard this as an
important commitment to match their own commitment to Artisan. It is a very
clear sign of the support of Mr Stevens has for Artisan; indeed there is a
formal undertaking that these new shares will not be traded for at least the
next 12 months.

Whilst I understand your sentiment as regards offering all shareholders the
opportunity, it was the reluctant view of the Board that this would be
ineffective. The new European Community originated Prospectus Directive
requires that a full circular to shareholders be prepared and this would
have been cost prohibitive for the likely funds raised.

All of our steps have been taken with consultation of the whole Artisan
Board including the independent non-executive directors who take their role
very seriously. The price was also discussed with our Nominated Advisor who
you will notice provided a fair and reasonable opinion on the transaction.

If you still wish to sell shares then so be it and I wish you well.

Chris Musselle
www.artisan-plc.co.uk

[pete1970] 03/3/2006 12:28

blueblood, you should try holding WTV, they are worse trust me!

[blueblood] 03/3/2006 11:27

Now wtf would you want to buy 85k of this tripe @ 3.44p?

[gizzimodo] 03/3/2006 10:30

Look at the longer term view, yes he has taken the shares at well below NAV and the market price. This finance will cost ART nothing and short term return Stevens nothing. He must have confidence in the future i.e turning the share price round for all of us with improved results and a return to healthy dividends or more likely a sale of the whole company.
The shareholders would have approved this some while ago but do agree with the sentiments above this has come at a time when there is no trust in the board !!

[gjabrj] 03/3/2006 10:29

No reply as yet.

[gjabrj] 03/3/2006 08:30

I have read the latest RNS and am absoloutely disgusted.

How the hell can Aspen Finance purchase 40 000 000 shares at 2.75p when to buy in the market the buy price was 3.75p.

Who allowed this?

Why weren't the shareholders offered the shares at the same price in a placing?

This stinks, and after all the previous trouble with Dean and Chris Musselle running the company how can shareholders ever trust this shabby company again?????????????/

Very pi$$ed of shareholder.
Holding 350000 shares reducing to nil asap

I would appreciate a quick repy"


Copy of email i sent to Company.

[bsg] 03/3/2006 08:29

What have the done with the profit from the last two years ?

[gjabrj] 03/3/2006 08:13

Was the trading statement a ploy to get the share price down so stevens could get the shares cheaper???

Fuks sake

[gjabrj] 03/3/2006 08:11

Is Stevens Dean in disguise?

Well I'm out asap.

[wakeland] 03/3/2006 08:07

Don't worry they will probably be trading below 2.75 once results are out as with ART's form they are almost certain to include yet another profit warning. A 10 year bull run on housing and still they are getting nowhere.

[jhan66] 03/3/2006 08:04

I too disagree with the terms.

They're decidedly unfair. No point in complaining to the closed-company operating here. I've sold up this morning & won't be back.

[swiftnick] 03/3/2006 07:43

Fair and reasonable?

I don't see anything fair and reasonable about diluting our holding by placing shares with a related party at a 50% discount to net asset value.

[canford cliffs] 03/3/2006 07:18

seems a bit on cheap - why didn't we all get a chance to buy at 20% discount?
_______________________________________________________________________________

Artisan (UK) PLC
03 March 2006


Artisan (UK) plc

Placing for Cash and Director's Shareholding

Artisan (UK) plc ('Artisan' or 'the Company'), the residential house builder and
commercial business park developer, is pleased to announce that it has today
placed 40,000,000 ordinary shares in the Company at 2.75p per share to raise
£1.1 million for additional working capital. These shares have been placed with
Aspen Finance Limited, a company of which Michael Stevens is a director and in
which he has a beneficial interest. Aspen Finance Limited is now interested in
69,666,667 ordinary shares representing 21.21% of the Company's issued share
capital.

The funds raised by this Placing, together with the expected increased debt
funding facility to be provided by the Company's Bankers, will be utilised to
progress the Group's land acquisition programmes to replace and expand the
number of sites available to Rippon Homes and Artisan Developments, as announced
in the Company's trading statement made on 24 February 2006.

Under the AIM Rules, the placing of shares with Aspen Finance is regarded as a
related party transaction and therefore the Board, with the exception of Michael
Stevens, have carefully considered the terms of the Placing and, having
consulted with the Company's nominated adviser, consider the terms to be fair
and reasonable insofar as the Company's shareholders are concerned.

Further Enquiries:

Artisan (UK) plc: Chief Executive 01480 436666
Chris Musselle

[bsg] 01/3/2006 12:09

I guess that 1500 sell was the last straw ! LOL.

[vaneric] 28/2/2006 10:53

I can't imagine that Persimmon would be interested in a tiddler like Artisan, this is more their style.

[gjabrj] 28/2/2006 09:42

I'd settle for 6p.

[canford cliffs] 28/2/2006 09:40

SLL................I'm pleased we are in agreement on this point, however I would think a fair takeout price would be closer to 10p. lol!

[gjabrj] 28/2/2006 08:22

I'm for a takeover!

That way I'll get a better return of capital.

[sll] 27/2/2006 21:56

Canford - ART trades on a PE of a modest 5.8 (per ADVFN) and PSN on 12.5 (that may need review after today). The former has a market capn of circa 10m while the latter some 4.1bn+. We are not it seems comparing like with like, apart from via the Rippon sector. However, what the respective PE's (and your argument vis a vis respective management merits, if right) suggest is that PSN could buy ART at double today's ART rating and then attach a 12 plus multiple to ART's profits while still adding shareholder value (ignoring any cost savings which there would of course be). Also (per you) PSN could grow the acquired ART profits faster than ART (if you are right). Should be a no-brainer for PSN at 7p per share, not to mention the discount to TNAV. There must be others out there, larger than ART and smaller than PSN, who can do these sums as well. Many thanks for franking the undervalued rating that ART today commands.