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Last checked at 
30 Nov 2011 16:59
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30 November 2011
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Artisan (UK) plc
("Artisan" or the "Company")
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Banking update
As previously announced, Artisan's banking facilities expired on 1 July 2011, at which time the Company's lender granted a 3 month extension and then a further 2 month extension to those facilities in order to provide additional time to complete a required valuation exercise and conclude the negotiation and documentation of the new facility.
This process is still ongoing and accordingly the lender has agreed to extend the facilities by a further 2 months in order to complete the process of entering into the new facility.
The valuation work and a security review have been completed and we are well advanced in negotiating new terms. Our lender remains supportive of the Company and the negotiations are proceeding in a cooperative and positive manner.
Whilst the Directors are confident that new facilities can be agreed, it is now expected that this would require an injection of new equity or similar.
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Enquiries:
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Artisan (UK) plc Chris Musselle | Β Tel: +44 (0) 1480 436 666 |
Altium Adrian Reed Adam Sivner | Β Tel: +44 (0) 845 505 4343 |
Bankside Consultants - Financial PR advisers Simon Rothschild Β | Tel: +44 (0) 20 7367 8888
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