Artisan (UK) PLC
17 May 2001
ARTISAN (UK) plc
(AIM)
ARTISAN AGREES TO PAY CONVERTIBLE LOAN NOTE
Artisan (UK) plc today announces that it has agreed terms to repay to
Starmount Ltd its £4.1 million convertible loan note.
The loan note will be repaid by way of £1.1 million in cash and the issue to
the loan note holder of a replacement loan note for £3 million. This
replacement loan note is not convertible into the company's equity.
Commenting on the arrangement, Chairman Stephen Dean said 'apart from the
obvious savings there can no longer be any real or perceived overhang in the
possible issue of ordinary shares'.
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Enquiries:
Artisan (UK) plc 01480 436 666
Chris Musselle, Finance Director
Seymour Pierce Limited 020 7648 8700
Sarah Wharry
Cater Barnard plc 0870 0660830