(ART) Artisan (UK)

ARTISAN (UK) PLC ("Artisan" or the "Group")

Result of Annual General Meeting and Cancellation of Trading on AIM

Further to the Company's announcement on 21 December 2011 and the circular sent to shareholders, the Company announces that at its Annual General Meeting ("AGM") held today, shareholders passed a special resolution to cancel the admission of the Company's ordinary shares to trading on AIM (the "Cancellation").

The Cancellation will be effective from 7am on 2 February 2012 and trading in the Company's shares on AIM will cease at close of business on 1 February 2012.

The other resolutions on the agenda for the AGM were also passed.

Norman Saunders and John Hemingway both retired as directors of the Company at the AGM. The Board is grateful for their contributions as non-executive directors for many years and wishes them well for the future.

For further information please contact:

Company website: www.artisan-plc.co.uk

ARTISAN (UK) PLC ("Artisan" or the "Group")

AGM STATEMENT 2012

At the Annual General Meeting of Artisan, the business park developer and housebuilder, to be held today (25 January 2012), Chairman Michael Stevens will make the following statement:

"Artisan's results for the year to 30 June 2011 once again reflected the very difficult market conditions experienced by house builders and developers generally.    The fall in realisable property values, combined with low trading levels, predictably resulted in the trading losses.

These difficult conditions continue to inhibit the Group's ability to make sales progress in terms of both volumes and values.

Commercial activity is relatively quiet but, as previously announced, we have secured the forward let of a 30,000 sq ft office unit in Peterborough.  Since the year end management has achieved the sale of one stock unit, agreed terms on another and are close to contracting the let of a third stock unit.

Residential sales remain difficult due to a lack of confidence from potential customers, who are finding that difficulties in obtaining mortgage funds has restricted their ability to conclude sales.  Whilst margins on older sites are under pressure, although interest in newer sites has shown that reasonable margins are feasible.

Our banking relationship has been under negotiation for some time.  We have been advising shareholders of this situation as successive extensions have been put in place. A new facility arrangement with our bankers is essential for continued trading and such arrangement must be on terms under which the directors and Artisan's major shareholder believe are sustainable.  A condition of the new facility will be the issue of new equity or similar, as we have made clear in the Annual Report & Accounts., and further equity may be required in the future.  To facilitate this, one of today's resolutions concerns the restructuring of our share capital to lower the nominal value of our ordinary shares, without affecting the rights attaching to them.  

As I have said before, we have continued to review the existing operations and assess the best structure for the Group going forward.  Your board has decided to recommend to shareholders that the Company delist from the AIM market, as the directors believe the benefits are outweighed by the costs and other restrictions of being listed. If approved by shareholders, the delisting is expected to take effect on 2 February 2012."

Michael W Stevens

Chairman

25 January 2012

For further information please contact:

Company website: www.artisan-plc.co.uk