Trading Update

 

TIDMFAN 
 
RNS Number : 1044T 
First Artist Corporation PLC 
22 September 2010 
 
 
 
                          First Artist Corporation Plc 
                        ("First Artist" or the "Company") 
 
 
                                Trading Update 
 
First Artist Corporation plc (AIM:FAN) provides an update on trading following 
the closure of the summer football transfer window. 
 
Strategic Update 
 
First Artist announced on 10 August 2010 that it was in talks which may or may 
not lead to an offer being made for the Company. Discussions are continuing 
although there can be no assurance that an offer will be forthcoming. 
 
First Artist Sport 
 
It has been widely reported in the press that this year's summer football 
transfer window was quiet when compared to recent years. The performance of 
First Artist Sport was in line with the general conditions of the football 
market. Selected transactions successfully completed during the summer football 
transfer window include: 
 
·              Jermaine Beckford - Leeds Utd to Everton 
·              Steven Fletcher - Wolves from Burnley 
·              Lars Jacobsen - Blackburn to West Ham 
·              Victor Obinna - Inter Milan to West Ham 
·              Stipe Petikosa - Tottenham Hotspur from Spartak Moscow 
 
The Company continues to examine various options for the future of First Artist 
Sport. Under the international accounting standard IFRS5, the business continues 
to be classified as "assets held for sale". 
 
Media 
 
To date, 2010 has been a quieter year compared to last years in this sector but 
generally theatre audiences in both the London's West End and Broadway have held 
up well. Our theatre-focused businesses (Dewynters and SpotCo) look towards 2011 
with a positive outlook based on a series of new shows coming to market next 
year. 
 
The Finishing Touch is looking towards a busy Christmas season and has recently 
signed: 
 
·      Exclusive agreements secured with both the Museum of London and the 
Science Museum to manage and deliver all of their Christmas events in December 
2010; 
·      Four day Anniversary event managed and delivered in Sorrento, Italy for a 
Management Consultancy client; 
·      Three day International Conference in Barcelona, Spain for a large 
manufacturing company; 
·      300 events secured between October - December for an Educational client; 
and 
·      Three year Public Sector contract awarded in August 2010. 
 
 
Enquiries: 
 
First Artist Corporation Plc 
Jon Smith / Shirley Stapleton                              Tel:  [phone] 
 
Seymour Pierce Limited 
Stewart Dickson / Tom Sheldon                         Tel:  [phone] 
 
 
 
Disclosure Requirements 
 
Under Rule 8.3(a) of the Takeover Code, any person who is interested in 1 per 
cent. or more of any class of relevant securities of an offeree company or of 
any paper offeror (being any offeror other than an offeror in respect of which 
it has been announced that its offer is, or is likely to be, solely in cash) 
must make an Opening Position Disclosure following the commencement of the Offer 
Period and, if later, following the announcement in which any paper offeror is 
first identified. An Opening Position Disclosure must contain details of the 
person's interests and short positions in, and rights to subscribe for, any 
relevant securities of each of (i) the offeree company and (ii) any paper 
offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) 
applies must be made by no later than 3:30pm (London time) on the 10th business 
day following the commencement of the Offer Period and, if appropriate, by no 
later than 3:30pm (London time) on the 10th business day following the 
announcement in which any paper offeror is first identified. Relevant persons 
who deal in the relevant securities of the offeree company or of a paper offeror 
prior to the deadline for making an Opening Position Disclosure must instead 
make a Dealing Disclosure. 
 
Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, 
interested in 1 per cent. or more of any class of relevant securities of the 
offeree company or of any paper offeror, must make a Dealing Disclosure if the 
person deals in any relevant securities of the offeree company or of any paper 
offeror. A Dealing Disclosure must contain details of the dealing concerned and 
of the person's interests and short positions in, and rights to subscribe for, 
any relevant securities of each of (i) the offeree company and (ii) any paper 
offeror, save to the extent that these details have previously been disclosed 
under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must 
be made by no later than 3:30pm (London time) on the business day following the 
date of the relevant dealing. 
 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of an offeree company or a paper offeror, they will be deemed to be a 
single person for the purpose of Rule 8.3. 
 
Opening Position Disclosures must also be made by the offeree company and by any 
offeror and Dealing Disclosures must also be made by the offeree company, by any 
offeror and by any persons acting in concert with any of them (see Rules 8.1, 
8.2 and 8.4). Details of the offeree and offeror companies in respect of whose 
relevant securities Opening Position Disclosures and Dealing Disclosures must be 
made can be found in the Disclosure Table on the Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the Offer Period commenced and when any offeror was 
first identified. If you are in any doubt as to whether you are required to make 
an Opening Position Disclosure or a Dealing Disclosure, you should contact the 
Panel's Market Surveillance Unit on [phone]. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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