Business
Correction to Offer Document
Correction to Offer Document.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n RNS Number : 5887W Artisan (UK) PLC 30 July 2009 \n \nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\n\n30 July 2009\n \nUnconditional mandatory cash offer\nby Aspen Finance Limited\nunder Rule 9 of the City Code \nfor Artisan (UK) plc\n\nCorrection to Offer Document\n\nThe offer document relating to the unconditional mandatory cash offer by Aspen Finance Limited for Artisan (UK) plc ('Artisan') (the 'Offer Document') had an error on page 7, in paragraph 6 of part 3 of the Offer Document - the Letter from the Independent Directors of Artisan.\n\nThe intention of the Independent Directors was to compare the Offer Price with the net asset value per share of Artisan at 31st December 2008, the date of its last published balance sheet, after taking into account the shares that had been issued as a result of the conversion of the Loan Notes which had occurred since that date, in order to assist shareholders in considering the Offer. However, the value of 121p per Ordinary Share quoted in the Independent Directors' letter did not reflect the increase in net assets arising from the conversion. \n\nHad the Loan Notes been converted on 31st December 2008, the value of Artisan's net assets at that date would have been £17.639 million, equating to a net asset value of 132p per Ordinary Share. \n\nThis error does not affect the belief of the Independent Directors that the Offer represents a substantial discount to the Company's net asset value. Nor does it alter their published views on the merits of the Offer, as set out in the Document.\n\nThe definitions used in this announcement are contained in the Offer Document.\n\nThis announcement does not constitute, or form part of, an offer or an invitation to purchase any securities.\n\nImportant Dealing Notice\n\nThe attention of shareholders of Artisan is drawn to the fact that under the City Code, there are certain dealing disclosure requirements in respect of relevant securities during an offer perio...