RNS Number : 4163Y
  First Artist Corporation PLC
  07 July 2008
   

    Date:                    7 July 2008
    On behalf of:        First Artist Corporation plc ("First Artist" or "the Group")
    Embargoed for:    0700hrs        

    First Artist Corporation plc
    Group Update 

    
First Artist Corporation plc (AIM: FAN), the media, entertainment and events group, today provides the following update. 
 
Dewynters
 
Further to the announcement of 15 May 2008, the Board confirms that it received two unsolicited approaches regarding the potential
acquisition of Dewynters, its wholly-owned subsidiary and the UK entertainment industry*s leading full-service agency. Both approaches were
rejected and discussions have been terminated. 
 
Dewynters is an iconic brand in the UK entertainment industry and the Board believes there is significant potential to build on its
reputation and success to deliver increasing value for shareholders. The business is well positioned to capitalise on the success of the
live events market over the coming years.
 
The Finishing Touch
 
As announced separately today The Finishing Touch, the Group*s events management business, has exceeded the third and final set of financial
performance targets detailed under the terms of the acquisition agreement dated 13 September 2005, achieving a 95% like for like increase in
operating profit for the twelve months ended 30 April 2008. As a result, the vendors of the company have achieved maximum earn-out payments.




    - Ends -



 Jon Smith, Chief Executive                    www.firstartist.com
 First Artist Corporation plc                  Tel: 020 7993 0000

 Emma Kane / Samantha Robbins / Sanna Sumner   FirstArtist@redleafpr.com
 Redleaf Communications                        Tel: 020 7822 0200

 David Floyd / Christian Littlewood 
 Dawnay, Day Corporate Finance Limited, NOMAD  Tel: 020 7630 4140

 Tom Jenkins                                                            
 Daniel Stewart, Broker                        Tel: 020 7776 6550




This information is provided by RNS
The company news service from the London Stock Exchange
 
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