Artisanal Sp.co Regulatory News (ART)

26 Nov 2007 08:42

Artisan (UK) PLC26 November 2007 ARTISAN (UK) PLC ATTEMPT TO REOPEN LITIGATION On 11th November 2005, Artisan (UK) plc ("Artisan" or "the Company") theresidential house and business park developer, announced that the AppealCommittee of the House of Lords had refused permission for Infiniteland Limitedand Mr John Aviss to appeal to the House of Lords. This ruling followed therejection, by both the High Court and the Court of Appeal, of the claimants'claims for damages for misrepresentation and breach of warranty in connectionwith the sale of Bickerton Construction Limited in 2001. This transactioncompleted prior to the appointment of Mr Michael W Stevens as a Director andChairman of Artisan. Without any letter before action or other prior notification, Artisan has beenserved with a claim by Infiniteland Limited and Mr Aviss, alleging fraudulentmisrepresentation in relation to the sale of Bickerton Construction Limited, andclaiming damages, including the claimants' costs in relation to the previousproceedings. Artisan has taken advice from the leading counsel who successfully representedthe Company in the previous proceedings. The Company is advised that theproceedings now issued are an attempt to re-litigate issues which have alreadybeen decided and rejected by the courts, and as such are an abuse of process. The Company is applying for the new claims to be struck out, and will press forthe earliest possible hearing of that application. The Company is advised by itscounsel that this application to strike out will succeed. Enquiries to: Artisan (UK) plcChris Musselle Chief Executive 01480 436666 email@artisan-plc.co.uk Brewin Dolphin Securities Nominated advisers 0845 270 8613LimitedAndrew Kitchingman Bankside Consultants Financial PR advisers 020 7367 8888Simon Rothschild 07703 167065Louise Mason Company website: www.artisan-plc.co.uk This information is provided by RNS The company news service from the London Stock Exchange