Business
CONVERSION OF LOAN NOTES
CONVERSION OF LOAN NOTES.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n RNS Number : 2888U Artisan (UK) PLC 22 June 2009 \n \n\n\n22 June 2009\nARTISAN (UK) PLC\nCONVERSION OF LOAN NOTES\n\nArtisan (UK) plc ('Artisan' or 'the Company'), the AIM listed house builder, commercial property developer and property investor, announces that Aspen Finance Limited ('Aspen') today served notice on the Company to convert the £1,750,000 of loan notes it holds in the Company ('the Loan Notes') into Ordinary Shares of 20 pence each in the share capital of the Company ('Ordinary Shares') at a conversion price of 34.125 pence per Ordinary Share. \n\nIn accordance with the terms of the loan note instrument dated 1 August 2008 constituting the Loan Notes, the Company has seven days following service of the conversion notice in which to allot to Aspen the 5,128,205 new Ordinary Shares ('the New Ordinary Shares') resulting from the conversion of the Loan Notes. \n\nAspen will, on allotment of the New Ordinary Shares, hold 7,551,113 Ordinary Shares, representing approximately 56.7 per cent of the Company's enlarged issued share capital. Michael Stevens, Chairman of Artisan, is beneficially interested in the Ordinary Shares held by Aspen.\n\nAs a result of this allotment, Aspen will be obliged to make an offer to all other Artisan shareholders to acquire their Ordinary Shares in accordance with Rule 9 of the City Code on Takeovers and Mergers ('the City Code') which Aspen has confirmed to the Company will be at a price of 34.125 pence per Ordinary Share.\n\nFurther announcements will be made in due course.\n\n\nFor further information please contact:\n\n\n\n\n\nArtisan (UK) plc:\nChris Musselle\n\n\n\n\nChief Executive \n\n\n\n\n01480 436666\[email protected]\n\n\n\n\n\nBrewin Dolphin Investment Banking:\nAndrew Kitchingman\nSean Wyndham-Quin\n\n\n\nNominated advisers\n\n\n\n0845 213 4730\n\n\n\n\nBankside Consultants:\nSimon Rothschild\nLouise Mason\n\n\nFinancial PR advisers\n\n\n020 7367 8888\n07703 167065\n\n\n\n\n\nCompany website: www.artisan-plc.co.uk\n\nImportant Dealing Notice\n\nThe attention of shareholders of Artisan is draw...