Result of EGM

Artisan (UK) PLC 13 March 2000 ARTISAN (UK) plc - 'BOARD CONFIDENT OF SATISFACTORY OUTCOME IN CURRENT YEAR' SAYS CHAIRMAN - BICKERTON OFFER DECLARED UNCONDITIONAL At the Extraordinary General Meeting of Artisan (UK) plc, the AIM listed housebuilding, property development, contracting and property refurbishment group, held today, chairman Mr Stephen Dean declared that with the passing by shareholders of all the resolutions at today's EGM, the company expected to declare the offer for the Bickerton Group unconditional in all respects shortly. Mr Dean told shareholders ' The eight months since our AGM in July last year have been a period of rapid development for the Artisan Group with the acquisitions of Joseph Driver and of Investment in Heritage plc, two investment properties in Sheffield for £2,250,000 in January and the signing of the heads of agreement for the purchase of a contracting and development company in the south west of England. 'Shareholder consent given today for creating new ordinary shares will enable us to acquire a further seven investment properties which have been independently valued at £9,415,000. 'With the agreed heads of terms for the sale of an industrial park in New Cross, London we have already begun the process of realising these investments to raise further working capital for the continued expansion of the group and I am pleased to report that, subject to contract, we have to date realised approximately 50 per cent of this portfolio' said Mr Dean. 'The acquisition of Bickerton is a further step in your Company's strategy for creating a national contractor/development group with some interests in internet services. In this regard I am pleased to tell shareholders that Bickerton's Gryphon Developments subsidiary now has Outline Planning Permission for the residential development of its 5.11 acre site at Black Fan Road, Welwyn Garden City which it had agreed to sell, subject to the grant of outline planning permission, for £5,423,000, cash, compared with a book value of £1.83 million' said Mr Dean. Looking ahead, Mr Dean told shareholders 'The Artisan group has increased substantially in size over the past 12 months and now has the potential for an annual turnover in excess of £100 million in a full year, and your board is confident of a satisfactory outcome for the current year in line with market expectations.' Enquiries: Artisan (UK) plc 01480 436666 Stephen Dean, Chairman Chris Mussel, Finance Director Boswell City Financial PR Limited 0171-583 2001 Glenda Boswell Mobile 0468 235 735 Rodney Johnson
UK 100

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